Three important IoT trends to watch in 2016

Our research over the past year has revealed three important trends driving Internet of Things (IoT) adoption as we move into 2016.

It’s no longer just hype

First, IoT systems are moving beyond the hype. If you don’t have a strategy for implementing IoT changes in your business, you may already be behind competitors in your industry. There are no excuses here as industry use cases are well defined, including manufacturing, energy and utilities, transportation and retail. Business executives and developers are indicating through surveys that they are increasingly implementing IoT systems in order to transform business processes.

CAI_1.21_IOT_Trends_Twitter

Data and analytics will drive value

Second, a solid approach to big data and analytics is necessary to enhance the value of IoT implementations. Simply connecting lots of sensors and devices to a network is not enough. You must have an IoT information strategy. Data skills are needed to understand how to collect and integrate IoT data with data from other sources such as internal data stores. Advanced analytics and dashboards must be built to deliver insights from the data that these “things” generate. It is certain that business value will come only to those who improve their data capabilities including storage, integration and analysis.

Challenges must be overcome

Finally, there are adoption challenges including security and standardization across all elements of the IoT. Overcoming these challenges is essential to widespread adoption. Organizations must consider how to manage the complexities of connecting to a seemingly unlimited number of devices. In addition, standards must be developed so IoT devices, platforms and systems can communicate with each other.

To fully implement IoT systems, businesses need to establish an integrated fabric of devices, data, connections, processes and people. This requires that IoT systems be built on top of a solid technology platform including cloud, analytics, big data and mobile. Most important, security must be designed into IoT systems at every level.

Even with all the challenges, once implemented, IoT systems can be a game-changer for enterprises that embrace them, changing the way work gets done and improving the top and bottom lines. In 2016, watch for innovative industry leaders to break through these challenges and begin disrupting industry models and processes.

So the IoT has moved beyond hype. It is a key technology solution that will fuel the cognitive business era. IoT systems offer concrete business benefits like increased operating efficiencies, improved customer experiences and accelerated innovation. In 2016, we will start seeing more companies realize these benefits.

Additional reading

Re-published on Forbes on March 1

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Pingbacks & Trackbacks