Question
Embedding machine learning and analytics software platform in hardware offers ongoing value to clients in several ways. Firstly, it allows for real-time data analysis and decision-making, which can significantly improve business operations and efficiency. Secondly, it can provide predictive insights, helping businesses to anticipate future trends and make proactive decisions. Thirdly, it can enable automation of routine tasks, freeing up human resources for more strategic work. Lastly, it can enhance product or service offerings, creating additional revenue streams and increasing customer satisfaction.
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In three years, Adobe Creative Cloud grew from nothing to a near-100% subscription model. Its transition inspired Microsoft, Intuit, and others. Even hardware companies are looking at subscriptions. Cisco sells the routers and switches that forward data packets between networks. A few years ago, it realized that, thanks to cloud computing, its clients didn't need as much of its hardware. So, Cisco decided to go all-in on services, focusing on the data inside all the hardware. Its latest hardware comes embedded with machine learning and an analytics software platform, offering ongoing value to clients. Today almost a third of its revenue is recurring.
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