Month: February 2022

How can the IoT marketplace deliver on its promise? Let’s take a look at what it will take to succeed from an enterprise IoT customer perspective. Companies that have been successful in large-scale IoT adoption take five basic steps:

1. Identify who owns the IoT in the organization. Currently, many organizations do not have a clear IoT owner, and decision-making is scattered across functions, business units, and levels. Companies that have been successful in large-scale IoT implementations are addressing this situation by appointing a clear owner who can be representative of different functions and roles.
   
2. Design for scale from the start. IoT should be based on business outcomes. Too often, enterprise customers get carried away with technology and focus only on pilot projects, causing many enterprise customers to suffer as a result.
   
3. Invest in technical human resources. IoT technicians are in short supply. Hiring engineers and data scientists is important, but for organizations to be on the cutting edge, they also need to upskill their current employees in data science.
   
4. Change the entire organization, not just IT. Too often, IoT implementation is seen as a technology project run by IT rather than a business transformation. Technology alone will never be enough to unlock the potential of the IoT and deliver maximum value. Instead, the underlying operating model and workflow of the business must be redefined.
   
5. Monitor your processes. In general, IoT-based remote asset and process monitoring allows companies to reduce the time it takes to detect, analyze and fix problems with critical assets and processes. In addition, they can optimize human resources, improve the security of operations and reduce operating costs.

The IoT market is growing rapidly. Growth may be slower than expected, but that’s not because of a lack of confidence or belief in the impact this technology can have. Rather, we believe that operational factors are holding the market back. As we have seen, there are nuances at the level of customization and use clusters. This applies not only to growth, but also to tailwinds and headwinds. For the IoT to reach its potential, companies and their customers must address these issues.

Want to know more about this topic? Contact us and our experts will be happy to answer all your questions! 🙂