In today’s world, literally any product/device/service can be connected. The most common ways are via Wi-Fi, sim cards, long-range networks (LoRA), and other such mechanisms but developments in edge and fog computing are pushing the limits of what can be connected even further. This phenomenon is called the Internet of Things (IoT) and businesses are rushing to make sense of it, and investing tremendous amounts of money and time trying to figure out what IoT means for them.
Why, though, are businesses rushing to adopt IoT? There appears to be a variety of reasons:
- Everyone else is doing it (not a great reason)
- Businesses want to capture as much data as possible to find new patterns and insights
- Businesses believe it will help them reach certain goals, such as moving from a product focused company to a service provider
Whatever the reason or rationale, every project should be business-outcome-driven with a direct link to value and ROI. Too many companies are entering into prototypes and experiments without a clear view of what success should look like, which is leading, in some cases, to failure.
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