Challenges to consider before adopting an IoT strategy

Internet of Things (IoT) is no longer a novelty in the business world, and more companies are considering an IoT strategy in order to remain competitive on the market. In fact, according to a survey, only 9% of companies admitted to not having any sort of IoT implementation in their organization. 

But what happens after you decide to go forward with the implementation of IoT systems in your company? Are you sure you are not focusing more on the benefits and overlooking the challenges of implementing new technology in your company? And even more important:

“Before taking the leap with IoT implementation, have you done thorough research on your specific business needs and how IoT could be used to improve your business process?” 

To address all these questions, I prepared a short checklist of the main action points to consider when assessing your company’s readiness to implement IoT.

1. Make sure to include the initial investment costs in your IoT budget planning

Especially in the early stages of IoT strategy implementation, the investment costs can get quite high because of the IoT skill gaps and the need to cross-train and upskill your employees with a focus on new technologies unique to IoT. Additionally, you need to make sure that the new connected devices are smoothly integrated into your business and compatible with the existent technology infrastructure.

2. Don’t underestimate the power of interoperability

As more IoT systems and devices become available on the market, more vendors and service providers appear, making it quite challenging to ensure interoperability between the wide variety of parts and pieces included in the IoT infrastructure. This is why it is crucial to make sure every IoT device will be able to communicate over a wide range of file transfer protocols, operating systems, as well as various types of equipment. 

3. Take into account that IoT implementation takes much longer than expected

Whether it’s because of business-related issues or technical issues like for instance not having an infrastructure capable of handling the IoT deployment, the implementation of an IoT system will take time. Studies show that the average of time-to-market is around 18-24 months and sometimes this timeframe can get even more prolonged so make sure you are ready for more delays.

4. Be proactive when it comes to IoT security concerns

When considering to adopt an IoT strategy in your business, you should make sure to secure the IoT system from the ground up before the IoT implementation, as it becomes more difficult to add safety features to the system later.

5. You should never overlook the data connectivity issues

When deploying an IoT system in your company, you should not ignore the fact that the Internet still does not run at the same speed in all locations. The number of connected devices is growing at a much higher rate than the bandwidth is increasing. Taking everything into account, the reality is that a successful IoT infrastructure will be highly dependent on good data connectivity to facilitate quick and quality communications. 

Final thoughts?

The IoT implementation process can be quite challenging and there are many things to consider before going forward with adopting an IoT system in your company. This short checklist of IoT challenges is only the tip of the iceberg but I would like to hear more about what other IoT issues you were confronted with at your company.

Share your thoughts in the comments section below!

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