The Internet of Things (IoT) and Big Data are all the rave. If it has an on/off button and can connect – it’s supposed to be able to now provide value. Technology vendors and think-tanks profess new business capabilities and serious financial benefits.
So why are most organizations still on the sidelines evaluating if/when to consider deploying these next-generation business capabilities?
Why IoT initiatives don’t gain traction
Most organizations are “kicking the tires” without an effective plan to evaluate the true ROI. Others decided to take a test-drive but are “spinning their wheels”. Consider these challenges that slow IoT opportunities:
- Unfunded – struggle to define and prioritize IoT uses cases and develop a supporting business case to fund initial investment.
- Technology Driven – strategy based on technical capabilities instead of a clear value proposition and monetization plan.
- Narrowly Focused – exploring IoT in one business function, and have not evangelized the opportunity across the organization.
- Poorly Aligned – not linked their IoT initiatives with corporate value drivers, such as reducing costs or enabling new revenue streams.
Kicking the tires is a waste of time and money. Spinning wheels is frustrating and embarrassing.
Get a rolling-start – and burn rubber
IoT technology is largely plug-and-play, but deploying the business capabilities is NOT plug-and-play. It must be treated as a program that considers organization change impact, the need for process standardization & optimization, new areas of risk to mitigate, and talent gaps to support new analytical insights.
How Sense Corp helps progressive organizations approach IoT
- Create / identify use cases across the value chain.
- Rationalize where the organization sits on a business capabilities maturity curve.
- Benchmarking against the competition.
- Target business capability improvement. Understand dependencies.
- Evaluate and quantify the ability to execute vs. business value.
- Define and plan a roadmap that demonstrates incremental value commensurate with investment.
- Build a bullet-proof business case.
Consider a new approach to gain traction on your IoT or BIG Data initiative. Sense Corp can accelerate your organization’s time-to-value to deploy the next-generation capabilities you need now… without missing the race all-together.