There are a million reasons and ways to join the fold and create an IoT solution or service. Maybe it’s just “what’s next” for your industry. Maybe it’s been in the works for years but hasn’t taken off for any number of reasons. Whatever it may be, if you’re planning an IoT deployment, you’d better be doing so with consideration of how to manage your newly created “thing.”
A survey last year of almost 2,000 businesses revealed that only about 26% of companies are successful with their IoT initiatives. As this presentation puts it: “In the IoT world, smooth sailing is rare.”
We have seen our share of failed IoT attempts, too. So, I want to bring up some of the common IoT deployment pitfalls in the hopes that you’ll avoid them. But more simply than that, get some help and expertise on your side! So many IoT failures come from lack of experience in the IoT marketplace. It’s not worth bootstrapping it on the inside in the hopes of saving a few bucks. Trust me, it will cost you so much more in the end.
Here are 5 reasons you need help with your IoT Lifecycle Management
- Security. I’ve talked about this one a LOT because it’s the most critical failure point of any IoT deployment. The varied and unique nature of IoT devices opens them up to endless applications of threats that can be used against a company and its customers by hackers. The outlook around IoT security risk, in its most apocalyptic sense, is that the world is eventually doomed to a most major security breach that will enter home, hearth, and business through — you guessed it — IoT. Whether you’re onboard with that doom and gloom outlook, the threat for breach of IoT devices is real and significantly higher than with other systems. Locking down every aspect of an IoT device from a security standpoint is an absolute must.
- Complexity. The software development lifecycle (SDLC) is complex. Combine that with hardware that takes on all variety of forms and distribution, and you’ve got yourself potential for a massively tangled web if not expertly tracked and managed.
- Cost. Take into account the cost of execution, manufacture, repair, maintenance, security, and everything else, the money at stake for a company in association with IoT deployments is significant. An expert in IoT relationships knows where to look for cost benefits between IT and the business, and internal and external partnerships. Chances are, if you put inexperienced internal staff onto this, they won’t do it well. And what’s more, they won’t enjoy it. More on that next.
- Are your employees doing what they are best at? The same survey mentioned earlier states that internal expertise (or lack thereof) is slowing IT progress. IoT can be an entirely new ballgame, and so often companies will take their lead pitcher and throw them into a quarterback position. Not only does it often happen where the employee simply isn’t good in the new role, it also often isn’t their preference.
- Get something real out of the data. Utilizing IoT to collect and interconnect data is just the beginning of a successful IoT deployment. Taking the next step — figuring out lessons learned from that data and actively applying it to the business — is the real value. They say data is power, and it is. But only if you understand it. Once you do, you can use it to lower business costs, improve your products and decision making, keep your customers satisfied, and continually improve upon business efficiencies like maintenance, downtime, and response.
This list could go on (and in future posts, it probably will). But for now, consider how having an experienced team on your side through all these obstacles can effectively help you avoid them or address them in the most effective, profitable way.
I personally find the IoT space fascinating and unique in its challenges. It’s our specialty here at Wireless Analytics, and we can help you get off and running with confidence. I would really like to see you be one of the rare birds that makes it in this burgeoning world of connected devices, so reach out and let’s talk!