The Internet of Things (IoT) entered our technology vocabulary in the late ’90s. Fast-forward to the present and it’s now a smart device-driven world where information and access are expected on demand. By 2020, Gartner expects there to be four Internet-connected devices for every human on the planet, and more than 65% of businesses will have adopted IoT products.
Adding IoT to your enterprise’s playbook could be the game changer you need to innovate solutions and increase revenue, but it’s a complex undertaking. Understanding your organization’s failure points will make identifying IoT improvement opportunities easier.
Understanding the purpose of driving your IoT plan can help align your strategy. There are five areas most impacted by IoT implementation, and your plan will likely start with a purpose based on one of these:
- Business insight
- Operating efficiency
- Revenue generation
- Process improvement
A successful IoT project starts with aligning multiple areas of the business with a common goal. Once the goal has been identified, your IoT reference architecture should be built by moving from the physical world and how you will collect data, toward the technologies to be implemented and integrated.
There is a lot of moving parts in implementing IoT, but the payoff is there for organizations willing to get in the game. Those with an IoT strategy will learn new truths about their business that are valuable and actionable. Those without may be leaving the playing field wide open for their competitors.
In our webinar, Outsmarting Smart Technology: Your Guide to Winning in the Data-Driven Future, our experts will lead you through the eight levels of an IoT reference architecture and provide thought-provoking applications for a variety of industries. It just might help you jump-start IoT in your enterprise.