What Do We Mean When We Say: Wireless Value Realization
I recently had the opportunity to participate in a prerelease technology challenge showcasing a new generative AI product portfolio. For three weeks, my team and I were privileged to participate with thousands of others in a generative AI sandbox with total freedom to play with any of the products that caught our fancy.
More importantly, we were able to develop our own "product" custom-designed to solve any problem of our choosing. Prizes were involved and while we didn't win, it was certainly exciting to see how other competing team extended the product capabilities and created solutions far beyond the vision of the product creators. The best part of the experience was that we were free to productize a solution designed to meet the needs of our individual team.
This prerelease test was a little unusual in that we weren't asked to just identify defects in the product and documentation and provide feedback on usability. The vendor actually encouraged us to do more than just kick the tires of their generative AI product. They wanted us to push the limits of their product and not only uncover new possibilities but see how far we could push and extend the product capabilities with a view to identifying new use cases and potential markets.
Why? Because at the end of the day, the vendor wanted what every supplier wants. They want to be able to extend the product to as many use cases as possible in the greatest number of potential markets to realize the maximum possible value for the product.
What is Wireless-Value Realization?
As consumers, most of us want to know that our money is well-spent and that we have received the best value for the goods or services we purchase. For business enterprises, the concept of wireless-value realization is quite similar. Enterprises spend massive amounts to develop new technologies and want to ensure that they are achieving the maximum business value possible from their development investment dollars.
Wireless-value realization focuses on how enterprises are able to glean the most value from their wireless technology investments. This includes businesses that may be adopting wireless technologies for the first time, existing businesses seeking to improve and expand their wireless experience, along with enterprises developing new products and services to support wireless technology adoption and implementation.
To realize the most value for your investment dollars, enterprises need to identify wireless target use cases that will deliver high value to the consumer and to the company's investment. Enterprises also need to be aware of emerging trends in wireless technology and understand how those trends may impact wireless technology markets and what opportunities those emerging trends may present both within an enterprise and in the products they may develop to support market trends.
A Giant Leap for Wireless
Wireless technology is poised at the edge of what may be one of the most prolific explosions in wireless industry growth. To paraphrase from Star Trek, wireless technology is about to boldly go where no wireless technology has gone before. There are several actors setting the stage for this expansion in wireless technology. Notable among these are the rise in adoption of 5G networks and the increased use of the Internet of Things (IoT) technologies.
5G Networks and Mobile Devices — 5G networks provide higher speeds coupled with greater capacity than earlier wireless networks. The use of mobile devices is rising and there's no indication that this trend will lessen. In addition to communication, mobile devices are used for tasks including gaming, watching videos, or accessing the internet.
These tasks drive the need for higher speeds and greater capacity than is currently available in existing networks. As enterprises continue to adopt 5G networks, the potential expansion for the use of mobile devices in new use cases across all industry sections is likely to continue to increase.
Internet of Things (IoT) —The increased speed and capacity provided from 5G networks will benefit IoT technologies enabling adoption of new used cases across all industry sections. TechInformed.com reports that there are currently 15 billion IoT devices connected to wireless networks. Considering that the world population is a little more than 8 billion, this represents two IoT devices per person.
By 2030, it's anticipated that the number of connected IoT devices will grow to 50 billion connected IoT devices. Consider the following data from TechInformed.com:
- By 2030, 75 percent of all devices are expected to be IoT devices.
- Manufacturing, including life sciences, oil, gas, consumer goods, and utilities lead the way with 53 percent of these industry sectors current using IoT devices.
- Agriculture is a major emerging IoT market with agriculture-related IoT devices spend expected to grow to $30 billion by 2030.
- The use of IoT devices in the healthcare industry is expected to exponentially increase from $89 billion to more than $446 billion by 2028.
Other industry sectors will also greatly benefit from 5G and IoT including energy, finance, automotive, communication, and more.
Realizing Wireless Value: Emerging Technologies and Emerging Markets
Wireless-value realization is all about identifying new use cases, leveraging emerging trends and wireless advancements to deliver new products and services, improve the customer experience and satisfaction, and reduce costs of operation. To implement wireless-value realization, enterprises need to understand and assess where they are now and determine if this meets their organizational needs.
Setting clear goals and objectives designed to meet the business needs is key to success along with determining what key performance indicators (KPIs) indicate success. Next, enterprises design and implement wireless solutions leveraging the best wireless technologies available. Once implemented, the solution should be continuously monitored for success and adjusted to improve results and outcomes.
Benefits of Wireless-Value Realization
Adopting wireless-value realization strategies benefits enterprises and consumers alike. Wireless-value realization strategies help enterprises identify inefficiencies and improve efficiency. Comprehensive strategies also lead to improved performance, data privacy, security, and overall reduced costs of operation. The customer experience is enhanced due to performance optimization, improved flexibility and scalability, and minimized disruptions.