How machine learning and IoT increase customer lifetime value - IoT Agenda

Any business looking to implement emerging technologies has one primary goal: to generate revenue. Deploying advanced digital technologies into business functions is no small undertaking; it requires a large financial investment, a reskilling of the workforce and a cleaning of vast amounts of data to ensure it's prepared to be analyzed. Simply put, if you take this on, you want to see the return. However, there's a fundamental problem with the approach many companies are taking with machine learning. They are using it to superficially enhance the customer experience, but stop short of transforming it into a true revenue-generating engine.