Internet of Things (IoT) exists in virtually all sectors now. IoT’s biggest potential is in traditional activities such as logistics, transportation, capital goods and urban infrastructure. The sales volume of these activities is so important that even a small efficiency improvement can save tens of billions of dollars.
Many business leaders cite the IoT as one of their priorities. However, companies wishing to expand through service upgrade, reconfigure or reshape their organization should proceed with caution. It is not enough to work with a serious provider; we must also prepare the change carefully.
The following recommendations can quickly give tangible value for IoT strategies:
Walk before you run
Although companies must have a full solution before deploying IoT, getting a test from a solution provider is probably the smartest way to run and learn quickly.
For potential customers of the Internet of Things looking to truly benefit from this service, it is important to simultaneously rethink their entire business model. For engagement in the Internet of Things involves the entire organization, from production to sales through service management and course information systems. From the point where the marketing information manager brings an idea to product design and definition of a strategy and funding, the Internet of things will affect every part of the business. To maximize its value, it must be integrated into the business model from one end to the other. That takes time.
Show me the money
Develop and implement a business plan with a clear definition of success criteria to assess the expected return on investment. The stakeholders of the company must see the real benefits before investing in emerging technologies – that they can save money or because they enrich the offer. This is necessary to convince the Board of Directors and top management.
Each project needs a leader
Assign a senior executive to the project of Internet of things and complexity that will follow. His/her mission will be to help build and remodel the process. This is not so easy to bring a team to adopt new software – it involves the collection and analysis of data and it takes some time before the benefits are visible. This is one of the reasons why small businesses are adopting the Internet of things more quickly than large groups. Some are also very active in the development of new applications based on the Internet of Things technologies.
The implementation of the Internet of Things takes time and often requires new ways of working. Companies must overcome technical and business challenges to unlock this potential. Rely on a scalable software infrastructure is a way to access more quickly to the market. And once started, can maintain a competitive advantage by tapping the intelligence and ideas to meet the market conditions through connectivity and data analysis.
The word innovation is almost a cliche in the business world. Yet even on a superficial level everyone is working for innovation, few companies fully embrace a spirit of innovation. But in today’s innovation is not only a catalyst for growth, this is a vital point for the survival of a firm. Everyone feels it. The biggest problem is how.