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According to research from Vodafone, the number of IoT adopters across all industries has already more than doubled since 2013, equating to 29% of organisations globally and demonstrating how compelling the case for IoT is to businesses.
However, as Jason Kay, chief commercial officer, IMS Evolve writes, the results from Cisco’s IoT deployment survey show how decision makers must place greater emphasis on business objectives when implementing an IoT project; 60% of IoT initiatives stall at the Proof of Concept (PoC) stage and only 26% of organisations have had an IoT project that they believed to be a complete success.
Suspending operations or shutting stores for re-fit risks impeding customer experience, loyalty and brand reputation, and diminishing the potential business value of the solution. As revealed by the Cisco research, the value from IoT must be generated quickly, with as little disruption to the business as possible, or the project will quickly stall.
By leveraging the existing infrastructure and deploying an IoT layer across the existing environment, organisations can unlock the data that is inherent within it and achieve ROI and tangible value within a matter or months, even weeks. Rapidly releasing value from IoT is essential in adopting an outcomes-led strategy and accelerating the shift into digitisation with low capital investment and high return on investment.
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