Have you specified and planned an IoT project thoroughly, only to get unexpected or even disappointing results? This is a situation, which many business executives have experienced. According to a recent survey by Cisco, close to three quarters of IoT projects are failing. Why is that?
Based on my experience, success is not based on the choice of technology nor the project plan. It’s the interaction between people and technology that define success.
In the survey, Cisco tells us that in the most successful projects partners are engaged in every step. However, many companies, which believe IoT can bring them great benefits in improving customer satisfaction or developing new business, are no experts in IoT. And if the companies do not have the needed experience in technology, how are they able to find the right partners? After all, you need to have a basic understanding of sensor technology, data gathering and analysis and many other aspects of developing an IoT solution, before you can even compare partners and their services.
In theory, remote monitoring of machines is straightforward – they are meant to function in a specified way and you know what to monitor. However, unlike machines, people do not always behave as expected. Be the people the ones developing your services or processes, or your customers or even the customers of your customer. One thing is certain: put people in the mix and unexpected things happen. Therefore, it is paramount to understand people and their expectations.
The same goes to IoT projects: assess the people first, technology solutions second. Because if you don’t, unexpected results happen, and they are not usually what you are after. And to get the best results, my advice to you is to find the partners who have experience in bringing IoT solutions to people and how these solutions have contributed in business goals.
Have you experience in successful IoT projects? Why did they succeed? Which were the key success factors? Please, let us know!
IoT Business Architect
Jasu is experienced in matching technology with business goals. At its best, new business development is a treasure hunt with the customer, where the treasure is to find mutually beneficial solutions.