As organizations embark on their digitalization journeys, a well-formulated Internet of Things (IoT) strategy is indispensable. Some choose to focus on IoT’s external benefits first, including generating new revenue streams, enhancing customer service and increasing engagement. Others initially target internal benefits, such as optimizing asset utilization and improving worker safety and security.
This research delves into the technical challenges in both the building blocks and implementation practices, organizational challenges, and examples from select IoT industrie
Opportunities and Challenges
- Early IoT adopters have by now identifed the key internal and external business value of the technology and moved their projects from experimentation to production.
- On the technical front, IoT has exacerbated application integration and data interoperability challenges with a wide spectrum of platforms, applications and protocols.
- From an organizational standpoint, team leadership, staffng, fnancing and skills development are the most important components to IoT project success. However, one in 5 IoT projects fail due to defciencies in these aspects, as reported by organizations participating in the 2017 IoT Strategies Survey.
What You Need to Know
- Security continues to be the most prevalent technical concern, with nearly two in five (39%) of the organizations identifying security as one of their top three technology barriers, as per the participating organizations.
- CRM and ERP are the business applications most likely to be impacted by the implementation of IoT in an organization.
- CEO and CIO involvement is critical to the early phase of IoT adoption, architecture and implementation.
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