The Internet of Everything
Business Value of the Next Major Wave of IT Innovation
Whitepaper , Guidanz Inc © 2014
This paper was developed in collaboration with Cisco Systems
The Third Wave of IT Innovation
Over the past 65 years, two major waves of Information Technology (IT) innovation fueled a significant rise in productivity. Internet of Everything (IoE) is the third wave of IT innovation that is about to fuel the next rebound in productivity increase.
The first major wave signified the dawn of IT from 1950 through 1970s when automation and integration of business processes increased labor productivity by 3.2% annually. New data captured from activities such as order processing and manufacturing resource planning contributed to dramatic increase in the productivity during this period.
The Internet revolution brought about the second major wave of IT revolution during 1990s through 2000s. The rise of the Internet enabled consumers to participate in the IT revolution. Furthermore, Internet allowed integration and automation of processes across the global supply chain, beyond the boundaries of an organization. This led to the development of powerful platforms, rapid acceleration of economy and an annual productivity increase of 2.3 % in the 1990s and 2.7% in the early 2000s.
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