As stated in the article written by Kasey Panetta, “7 Technologies Underpin the Hype Cycle for the Internet of Things, 2016. “
“The IoT itself will help digital transformations but will take 5 to 10 years to gain mainstream adoption,” said Alfonso Velosa, research vice president.
The IoT remains on the peak of inflated expectations for the third year in a row as vendors push the hype even higher, but most companies struggle to find use cases beyond proof-of-concept.”
CIOs will be responsible for implementing IoT, but it will be challenging to get all the right skills in-house, given the diversity of technologies. Many companies failed to plan or even execute the IoT strategy. The companies don’t have the necessary building blocks, which I termed “DNA.”
What’s the DNA of the Internet of Things?
DNA comprised of three building blocks:
- D – Digital Transformation
- N – Networks
- A – Applications
What differentiates successful planning, execution, implementation, and adoption of IoT in a company is the maturity of its DNA.
- It’s an utmost important factor to get the mindset ready with their strategy to adopt Digital Services. We might be talking Digital Economy or Big Data Analytics whatsoever. Still, without a Champion that can break down all the barriers, especially in the mindset, that company will be doomed within the next 3-4 years when everyone else has increased their productivity multiple folds and created new revenue streams by adopting digital services. Both front-end and back-end systems must be in digital form. Interacting with customers is no longer sufficient for humans but must extend the reach using online and mobile services. We have to do away with the pen and paper process to be more competitive. Everything MUST be in digital format. Otherwise, your business will be eaten away by your competitor.
- Taking control of the utilization of your assets and understanding how your customer uses your products are essential. Thus, the assets MUST get connected to allow the companies to monitor their usage pattern. Please find the best connectivity options, whether inside a building or outside. It can be either a fixed or wireless, short-range or long-range, low-speed or high-speed network – everything depends on the kinds of data the sensor transmits.
- Get ready to transform your new process workflow. It will never be the same again. IoT will break down unnecessary barriers and automate the process flow. You might face some resistance internally when these new processes obsolete many manual tasks and jobs. However, you might need new applications to manage with the new approach, and thus new jobs are created. Therefore, many custom-built applications need to integrate into the legacy systems. But it also opens up unlimited possibilities for new applications for companies who wish to replace their old systems or want to adopt a new business.
IoT is a journey, and every trip needs to start with a single step. You might encounter different barriers and probably different options to arrive at the same destination along the journey. Choose the path that suits you because every company has its DNA.