In 2013, Cisco calculates that companies could produce $613 billion of mostly incremental profit by harnessing the growing networked world of people and things.
“Take the jet engine. It has about 20 sensors that capture real-time continuous data — temperature, engine performance, etc. If I can take that data and use it to model a consumer outcome — say, more time on the wing or less fuel burn — that’s worth an awful lot of money to my customers. A 1 percent change in fuel burn for an airline is worth hundreds of millions of dollars.”
‘Consumerization’ is happening in the healthcare market – an ongoing trend of turning patients into consumers. Patients are increasingly using their smartphones and tablets to access and manage healthcare information from anywhere at any time. These devices enable them to take a more active role in their care experience and empower them to choose their own care alternatives.