Organisations require effective IoT strategies to make adequate progress in an increasingly competitive business environment. However, barring some exceptional companies, there are stories of IoT failures galore. Successful managers and CTOs know of several secrets of the internal workings of the Internet of Things, which allows them to maximise profits while ensuring superior ROI.
2019 was an exceptional year for all IoT-driven technologies. The new decade also promises unlimited potential for future adopters. Scott Sandler, who is Rockwell Automation’s chief Cloud Technologies Manager, has stated that IoT managers will be agents of change in this decade. Rockwell is widely accepted as a pathbreaker in such fast-moving technologies.
To stay ahead of the curve, your organisation needs to stay abreast of the following points.
IoT insider secrets
Here are some tips which experts often rely on.
- Creating a distinct IoT department is necessary
To have greater chances of success in the long run, an organisation cannot rely on a generalised IoT workload. There has to be an in-house department which takes care of these new technological advances. This is what General Electric or GE has done successfully. They are currently pursuing their ambitious next-gen jet engine technology and the giant organisation claims that they will have an increased investment in IoT by up to US$ 60 trillion within 2 decades. It would have been nearly impossible had they not possessed a specialised IoT unit.
- Defining IoT roles is essential
Each person working as a team-member in the greater scheme of things must know what his or her role is, and must be trained accordingly. IoT has several components including video analytics, process and predictive analysis, and superior R&D prowess. Each of these job roles requires a separate skill-set and varying training method. These must be properly defined first.
- Security is paramount
Creating a secure IoT universe is crucial because the chances of cyber-attacks and data theft are on the rise. The security infrastructure has to be tamper-proof. Studies conducted by HP have showcased that almost 70 per cent of IoT devices are prone to attacks and security breaches. If your organisation is looking to make the leap, it has to create a secure environment first.
- Third-party IoT expertise can be useful
The standards of IoT are still mostly in development and deployment phases. It may not always be possible for a smaller organisation to keep up with the advantages and advancements. Outside sourcing of expertise may thus become a necessity. The outside partner will provide the technical expertise in lieu of payments. It is just like standard outsourcing, except that the vendor must be chosen with a lot more caution in this instance.
- It is difficult to always predict the future
You will find that the Internet is replete with a plethora of articles and data which apparently dissect the future potential of IoT. However, given the unpredictable nature of the technology, any prediction may eventually prove wrong. With more devices joining the ecosystem, the variables involved are also more numerous. Thus, a certain degree of caution must be maintained whenever a new feature or service is added.
Merely aiming big with IoT is not nearly enough. The implementation of the ideas will decide how well the organisation fares in 10-15 years, especially in the emerging technologies sector.