In a Mckinsey survey of 300 IoT practitioners, 40% identified that discovering and determining use cases and applications as a major capability gap for them. 48% mentioned managing data was another.
Such gaps can, and do, contribute to IoT implementation failures. A study by Cisco found that only 26% of the surveyed companies were successful with their IoT initiatives.
So, do we abandon IoT?
That is not an option.
Consider why: The Mckinsey survey also showed that IoT leaders gained significantly from their IoT projects. Even the IoT laggards claimed reasonable gains.
At Digi2O, we believe that the decision making process can be simplified using a basic framework that can ensure a very high probability of success. Suffice is to say that proper strategy and good planning are the keystones of a successful IoT implementation.
IoT projects are essentially data projects. Installing an IoT solution, without giving sufficient thought to why you are collecting the data and what you will do with the data, can be a recipe for disaster.
Below is a view of the framework which we use. It is simple but not simplistic. Zooming into each of the boxes in detail and executing them correctly can help you achieve your IoT objectives with a higher success rate.
I will be happy to speak with you if want to know more about how to go about your IoT project.
Meanwhile, I would like to know about your areas of concern, if any, so that we can serve the community better. Please write back to me in the comments section.
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