“What does it take to realize the potential of IoT? The following perspectives from industry and academia provide insight and advice for business leaders seeking to derive benefit from real-time data at scale.
IoT Is Ready for Business — Here’s How Business Gets Ready for IoT
Organizations that have made successful investments in the internet of things (IoT) have learned that delivering business outcomes is not only about implementing machine-to-machine communication, big data, analytics, and machine learning. These leaders understand that a return on investment is more about having a strategy than about adopting a technology. Achieving positive outcomes with IoT requires that businesses understand what is valuable in the data generated and collected by IoT-connected assets, processes, and people, and how they can put that data to work within their organizations.
Taking full advantage of this data can drive innovative new products and services and ultimately lead to productivity improvements, cost reductions, and increased customer engagement and satisfaction. These outcomes have been well documented by several highly successful (and vocal) early adopters. Still, for every IoT success story, someone else has struggled to deliver on an IoT investment. For many, the issue is not just the diverse technologies underlying IoT. The more significant obstacles may be identifying the right use cases, involving the right stakeholders, and committing early to a comprehensive data collection, management, and governance strategy.”