Customer demands are increasing day-by-day, so adopting machine-to-machine (M2M) and internet of things (IoT) technology to provide a better service can be a lucrative investment.
"The IoT revolution is coming and enterprises have a choice to be at the forefront of innovation and to reap the rewards of a connected and flexible workforce, or linger at the back, whilst the tide passes them by" says VP of Strategy at MobileIron, Ojas Rege.
Here are nine tips for bringing IoT into your firm.
1. What can M2M offer your firm?
Connected glasses, fridges and even cars can all be part of your business environment ©iStock/Ferrantraite
Greg Ford, managing director of software vendor Advanced Field Service says that the aim of an IoT strategy should be a creating a more efficient organisation.
"If implemented correctly, M2M can deliver a rapid return on investment, by cutting travel costs, reducing downtime and improving the management of stock and inventory" for service management firms, he says.
Head of the IoT practice at HCL Technologies, Sukamal Banerjee adds that the prevalence of data sharing will enable software platforms to "draw insights and identify parallel lines between businesses that never realised they were connected".
"For example, agricultural supply chains will see significant efficiency gains when sensors deployed in a farmer's field to monitor the soil conditions can forecast crop yields more accurately," Banerjee says.
"This insight will enable the rest of the supply chain to become more efficient, as manufacturers can automatically adjust the throughput of packaging to ensure shortfall or surplus is limited, while logistics firms can plan vehicle routes in advance to ensure the most effective utilisation of their fleets."
2. Plan your technology roadmap carefully
Don't be left with your head in your hands later down the line ©iStock/Francis Black
Picking a manufacturer of your devices or sensors is crucial as having multiple suppliers may make planning and gaining access to data more difficult - delaying widespread adoption in your firm. Pick the most reliable manufacturer that you can trust to stick with you in the long term.
Vice president and analyst at Gartner, Nick Jones said: "As with all hardware design, there are complex trade-offs between features, hardware cost, software cost, software upgradability and so on. As a result, understanding the implications of processor choices will demand deep technical skills."
Getting security right is crucial ©iStock/Pony Wang
Make sure you have addressed all security concerns, a hot topic at board level. Creating a security policy around IoT projects will put customers and your CEO at ease.
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