TEKTALK STRATEGY

Strategic Focus: Internet of Things Drill Down – Part 2

Takeaways from the Dec 2017 Forbes State of the Internet Report

• The IoT is real and it is happening now.

  Almost two-thirds (64%) of companies believe the IoT is important to their current business, >90% believe IoT will be important to the future of their business, of all emerging technologies, executives believe IoT will be the most important, 51% of respondents say their company has significant IoT programs in operation or that these programs are a major contributor to their business

• Biggest challenges with IoT

  When building out IoT capabilities, companies say their greatest challenges are the inability to present a compelling return on investment (32%), keeping the IoT secure (32%), cross-department cooperation (31%), integration of disparate data (30%) and availability of skilled staff (29%).

• Best practices of companies with a successful IoT program
  By examining companies whose IoT initiatives are meeting or exceeding expectations, we’ve identified a few practices they follow to ensure success: IoT championed by the CIO (53%), include external vendors on their IoT planning team (61%), use a third-party platform as the basis for their IoT operations (81%).
• Why is IoT top of mind with IT executives right now?

  First, unlike more specialized applications like drones, IoT is seen as part of the future of virtually every industry from healthcare to financial services to transportation. Second, by being integrated into legacy operational technologies, IoT costs less to implement compared to other technologies. And third, IoT generates substantial new data that feeds other advanced
  technologies, like artificial intelligence or automation solutions, thereby accelerating transformation even faster.

• How do successful organizations build an IoT team

  Successful IoT teams include the CIO as the executive sponsor and the CTO as the manager of the day-to-day. Additionally, the teams include contributions from head of line of business, external IoT vendors, VP of information technology, product designers, security specialists, programmer, and
  mobile communications specialists.

• How successful IoT teams work with partners

  81% use a third-party IoT platform and 66% include partners as part of their IoT development team. The most commonly engaged partners in IoT programs include operational technology vendors, IoT specialist consultants, systems integrators, strategic consultants and IoT software/hardware vendors.

IoT is a force to be reckoned with and will continue to spike with ubiquitous Internet access and infrastructure-as-a-service. The time to engage is now, to keep your partners and customers ahead of the learning curve. TekEfficient can help. Schedule a time to speak with our consultants and maximize IoT success.