VICE PRESIDENT OF SOFTWARE ENGINEERING, VIZIO
“Very’s a great partner to quickly standup a project and get domain knowledge into the process quickly. They spread their knowledge across their teams and yours to ensure the best product possible.”GET STARTED WITH VERY
Data, Data, Data
One of the biggest reasons to make a TV smart in the first place is collecting and leveraging data. A hallmark of a mature IoT product is predictive and/or prescriptive analytics, in which a device closely tracks and monitors user behaviors in order to influence it. In the case of the smart TV, at least on the surface, that equates to analyzing what people watch and using those insights to recommend more content—keeping them engaged—and selling more finely targeted advertisements.
As Loes explains, “Last year we focused a lot on Vizio’s free, ad-supported content… It’s all about discoverability of content and pushing those recommendations.”
This opens up new streams of recurring revenue for a company that traditionally relied on one-time hardware sales. Now, through a combination of extracting behavioral surplus, feeding it to machine learning (ML) models, and selling the resulting prediction products to advertisers and other bidders, Vizio has found a way to transform their business model.
The result is IoT maturity: a steady flow of recurring revenue.
Conclusion: The Smart Home Hub
As we approach the final stage of the maturity model, ubiquitous computing, we expect the smart TV to take on an even more prominent role in the smart home. As the largest screen in the house and from its place of privilege at the center of the living room, the smart TV is ready to step into an even greater position.
“What experiences can drive additional engagement?” asks Loes. He points to “fitness opportunities” and the “smart home hub,” concluding that “interactivity with your TV is going to grow. With that change to the interactivity model, you’ll start to see that give-and-take relationship at a higher frequency.”
Vizio may be the experts when it comes to televisions, but in order to bring their product in line with their vision for the 21st century, they needed IoT market expertise and IoT engineers. That’s why they called Very to help them build intelligence into their products.
“Very’s a great partner to quickly standup a project and get domain knowledge into the process quickly,” says Loes. “They spread their knowledge across both their teams and yours to ensure the best product possible.”