IoT Data Is Transforming How Medtronic, Nest, and Tesla Work

June 20, 2018 - 4 minutes read

The Internet of Things (IoT) isn’t just about devices; it also centers around connectivity, data sharing, and improved user experiences. Most companies are still trying to get a hold of how developing custom IoT solutions can benefit their operations, but Medtronic, Nest, and Tesla are way ahead of the game.

They’re already utilizing IoT data to transform their businesses from the inside out.

Medtronic’s Analytics Are Saving Lives

Medtronic is a well-known MedTech company, with offices from Boston to Singapore. But this big corporation doesn’t allow the sheer size of its operations to affect the quality it offers patients. Seeing data science take over numerous major company strategies convinced the company to jump into the deep end of the waters.

Medtronic has created a division in its Medtronic Care Management Services department that monitors patients remotely, collects data about biometrics and symptoms, and portals this into a bigger database. Using algorithms, this technology ultimately sends alerts for doctor review. The company has helped over 95,000 patients, and it helps physicians spend less time taking notes and have more quality time with the patient.

Nest’s Reinvestment In Their Customers

The Google-owned company has been known to catch burglars on its smart home monitoring system. Nest has also released more connected devices for the home, like thermostats and doorbells. The company employs IoT in its thermostats, for example, to track customer behavior in changing temperatures. The strategy saves their customers up to 15% on cooling bills and 12% on heating bills.

This isn’t necessarily a unique concept in theory; almost any company that collects data about their customers has the power to leverage that data and put it back into the company for the customers. The fact that Nest is actually taking the time to do this is what differentiates them from others.

IoT Data is Driving Tesla’s Improvement

Tesla is constantly working on improving user experience for their smart cars by leveraging their multitude of data-gathering sensors, now outfitted on cars all over the globe. The company, whose cars are all equipped to become autonomous, or self-driving, one day, updates its software remotely. These updates usually carry improvements made for problems that IoT data identified for the Tesla data science team.

One time, Tesla saved 29,000 car owners time by sending a quick fix for charging plugs to all cars immediately. Another time, in September 2017 during Hurricane Irma, Tesla gave their vehicles extended range by changing the software to improve battery performance. With remote, seamless updates, the company saves thousands of mechanic and factory hours. Customers don’t have to take time out of their busy day to go to the dealership, either.

What Can Data Do for You?

IoT data is a powerful resource that many organizations still aren’t harnessing. But the three examples above show it’s already having an immense impact in transportation, smart energy, and even in healthcare. Enterprises everywhere should start to consider how they could leverage IoT data in their operations.

It’s an inevitable part of the future for enterprises, and rightly so.

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