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IoT needs innovative business models

The Internet of Things (IoT) can create profits in two ways: increase revenues by driving innovation and reduce costs by improving efficiency. However, many global organizations still lack good business models in their IoT implementation to connect different platforms, components and ideas to make full use the IoT potentials.

“An online survey of 465 IT and business professionals conducted last November among Gartner Research Circle members reported that 38% have no plans to implement IoT. The survey also found that 9% of the professionals questioned see no relevance at all in IoT technologies.”

Please check out Cliff Saran’s excellent article called “IoT adoption held back by lack of business case, software and skills” published on the ComputerWeekly website.

Alex Scroxton also publish another excellent article on ComputerWeekly called “Internet of things needs more innovative business models“. In Alex’s article, he said that there are too many cooks pushing ideas about how the IoT should work. In addition, IoT does not has a well-funded ecosystem like other technologies.

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