Delivering added business value to existing product and services can be done through the Internet of Things (IoT). IoT can help organizations improve relation with customers without much physical interaction. Using IoT, personalized services can be delivered in a less personal way. The key to launching IoT is to think big. Organizations should be able to identify the limitations yet be able to offer integrated services including IoT and other services and applications. After creating an understanding of IoT, companies should communicate its values, potential, risks and ecosystem roadmap implications. An example of how IoT can be used to deliver personalized services can of the car insurer who, in the event of an accident of his customer, is informed immediately through the car's on-board systems. Read more at:https://channels.theinnovationenterprise.com/articles/7726-why-a-customer-is-never-a-thing

Digital privacy is dangling on the edge of the cliff as public cynicism has always been high. To battle this, there has been innovation in Big Data: Customer Empowerment. Usage-based insurance (UBI) programs can allow people to trade in their personal data in a transparent market transaction. Companies thus have data owners that are treated based on their data, thereby increase brand satisfaction and reaping larger profits. A survey hinted that half the consumers in U.S., U.K. and Australia are alright to share personal data in exchange for product/service incentives. Drivers of automobiles can now track their driving behavior with sensors that calculate personal driving profiles that are then factored into their auto insurance. Read more at: http://techcrunch.com/2015/06/29/the-latest-big-data-innovation-is-consumer-empowerment/