4.2.3 Business goals and opportunities
Business managers must also take into consideration business goals, business styles, tolerance to risk, and the level of technical expertise available. Business managers must analyse the feasibility of an IoE project based on how it contributes to business success. Considerations might include:
- Profitability − Determine cost and return on investment of implementing the IoE project as a result of efficiencies and improvements.
- Business growth and market share − Identify growth opportunities and competitive advantages due to the IoE implementation as a result of new insights.
- Customer satisfaction – Determine the impact to customer experience and loyalty as a result of improved responsiveness to customer needs.