A $13B diversified industrial component supplier with over 100 autonomous business units needed a strategy to unite all business units behind a common and shared approach to developing an Internet of Things (IoT) platform and IoT solutions. They realized that independent IoT activities at the BU level would become a disaster and they wanted to create a corporate innovation model that would support and accelerate individual business IoT efforts at low cost.
What started out as an effort to examine IoT technology rapidly turned into a project to redefine the company’s innovation strategy to deal with the digital transformation occurring throughout the industrial world.