A couple of days back we had the opportunity to lead a roundtable discussion at the Gartner AADI conference focused on the internet of things (IoT). It was an interactive session during which we shared our experience in the IoT space and the attendees vocalized their thoughts for defining their IoT strategy. The session was a popular one with people lining up to get in the room, demonstrating the growing level of interest in IoT. The group represented multiple verticals as IoT is the next wave of technical innovation that is influencing all verticals. But before an enterprise can design their IoT platform, they need to:
- Be realistic about the latency needs from the platform
- Factor in data growth before architecting the platform
- Always plan for new data sources getting introduced as the platform scales
- Not ignore historical data while generating the insights from streaming data
- Think twice before not storing all the ‘noise’ in the raw data as today’s noise could potentially become relevant at a later date
Additionally, IoT has to be treated like any other initiative by identifying the business value before an investment is made. This requires reviewing all the IoT use cases that will increase the revenue and / or optimize the current environment by reducing costs. Some of these use cases, that cut across verticals, are: customer experience management for offering promotions based on real-time data analysis, predictive maintenance, supply chain optimization, loss prevention / fraud prevention, etc.
Though IoT is a promising area, the adoption is growing gradually mainly because of the complexity involved and the lack of standards. We have taken that into consideration while designing our offering to make it easy for an enterprise to go from an idea on paper to a live system in production within a short period of time. If you would like to learn more about this offering, please leave a comment below or email me.