A new internet of things platform--and business
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Impact Story

A new Internet of Things platform and business

Back to How We Help Clients
Impact Story

A new Internet of Things platform and business

A global telecoms company knew that the Internet of Things (IoT) is taking off in a big way. But since many ‘smart’ products only worked with their associated apps, it’s difficult to build a true ‘smart’ ecosystem.

Our client asked us to do just that—transform the way consumers interact with IoT. Together, we built a new IoT business from the ground up, including technical design and execution for the new platform, onboarding a network of partners and users, and scaling the talent and capabilities to make the new business a success.

Moving products from the analog world to the Internet of Things

The challenge: moving products from analog to the IoT is tough. Real consumer success stories are hard to find.

The journey: 9 months to revolutionize consumer IoT

  • founded the new IoT business, staffed with an interim McKinsey team
  • hired world-class IoT, digital and mechanical specialists into the business, drawing from well-known tech firms and startups
  • built a consumer IoT technology platform with a radical approach to data stewardship—unbundling IoT devices and apps
  • designed, engineered, and launched the first product to showcase the platform and attract new partners
  • built an ecosystem of partners, including design agencies, startups, and hardware manufacturers, with more on the way
  • signed up the platform’s first customers

Impact after 9 months

60

world-class specialists

hired and onboarded

8

agreements signed

with agencies, startups, and manufacturers

1

fully operational business

ready to capture the IoT opportunity

Capability spotlight

Digital Business Building

A new approach to reinvention: we kick-start the transformation with Digital McKinsey product teams and interim management, building and operating a new digital organization. As we hire top talent into the group, we gradually scale down our team, transferring a fully functioning digital unit back to you.
Digital Business Building

Examples of our work

From empty warehouse to digital business

Recovering from a major cybersecurity attack

Turning machine learning into action pays off

A new Internet of Things platform and business

Out of the garage—a new digital bank

Transforming customer experience in wealth management