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But the success metrics are but one of the challenges of IoT implementation. Almost all (96%) of those involved in IoT projects say they face challenges in one form or another.
The challenges range from policies to issues with the actual technology. For any of you involved in IoT projects, this list of challenges from those already involved in IoT may sound familiar:
58% -- Business processes or policies, such as privacy issues
51% -- User adoption of new technology
41% -- Timely collection and analysis of data
40% -- Sensors or devices....
Only a third (33%) of those involved in IoT have quantifiable metrics to track success, according to the study IoT Meets Big Data and Analytics. The study, conducted by Dimensional Research for ParStream, comprised an online survey of 200 businesspeople who have professional responsibility for IoT projects. Almost half (47%) said their IoT initiatives were driven by strategic business investments and 42% are targeting consumers. But the success metrics are still somewhat of a work in progress. Here’s how the success of IoT projects are evaluated:
But the success metrics are but one of the challenges of IoT implementation. Almost all (96%) of those involved in IoT projects say they face challenges in one form or another. The challenges range from policies to issues with the actual technology. For any of you involved in IoT projects, this list of challenges from those already involved in IoT may sound familiar:
Aside from IoT having a mystique to the term, why would this area be treated or approached any differently to any other new business proposition? After a business plan is developed, there should be a marketing strategy coupled with clear quantifiable metrics to gauge success and if those can be met then the prospects are extremely exciting.