The Internet of things is exploding. Analysts predict that by 2020, there will be more than 50 billion devices connected to the Internet, which will generate a large amount of data that can be used by enterprises. However, the statistics so far are not ideal, almost 75% of commercial Internet of things projects are failing.
So how to avoid this in the business? Let’s look at some ways to help your company prepare for the coming wave of the Internet of things.
1. Plan ahead to avoid common mistakes
According to Cisco’s report, five major challenges facing enterprises may lead to the failure of Internet of things projects:
- Budget overrun
- Cross team integration
- Limited internal expertise
- Data quality
- Completion time
Most of these problems come down to proper planning. When organizing a project, take some time and thoroughly assess the budget requirements, how much time it will take, and whether your team has the expertise to handle the project. If you can’t guarantee your project’s budget or schedule, postpone it. It’s better to finish later than not.
2. Upgrade your security project
Security will become one of the biggest problems many companies face when they enter the Internet of things revolution. In a poll, this is the top reason why 50% of respondents have not yet implemented IOT in their business.
We have all seen the big data leakage in the past few years and its impact on related companies. It is important to avoid these types of data breaches and be prepared for when they occur. If your enterprise cannot handle the security needs of its Internet of things network internally, you can consider outsourcing.
3. Predict your data storage needs
The Internet of things is about data. The collection of a large number of data, and the subsequent analysis and implementation of these data, make the Internet of things so important for enterprises.
What’s the amount of data? By 2020, there will be about two ZBS a year, according to analysts. ZB is one thousand EB. 1eb is equivalent to 36000 years of HDTV material. The amount of data your enterprise can generate through the IOT network is unprecedented.
One option is to invest in your own local data storage system. Field storage or cloud storage combined with optical Internet is another alternative or supplementary method of local storage. Just look at a wide range of cloud storage providers and Internet solutions for small businesses to decide which is best for your needs.
4. Search and test analysis platform
You also need a way to filter all the collected data and use it with sophisticated analysis tools. There are several platforms to help you understand all the data that will be collected. IBM’s Watson analytics is a popular suite, but it’s important to find an analysis tool that fits your business and budget.
The process of testing a platform will also help you identify any areas that may be understaffed. Do you need to hire a new data analyst, or should your IT team expand?
5. start from the foundation
Instead of directly using complex Internet of things solutions to solve problems that may not exist in the enterprise, it is better to use Internet of things to solve long-term but relatively simple problems that may exist in the company.
Once you find the problem, use these easy to implement IOT solutions as a good starting point:
Use smart appliances and accessories such as smart locks and light bulbs to automate office maintenance. These devices increase efficiency and reduce maintenance and utility costs.
In order to realize the automation of inventory tracking and ordering, the smart RFID tag is installed on the goods in the retail place. These tags allow inventory tracking to be more accurate, while freeing up time for other tasks and saving salaries.
Use Amazon echo devices or other brand equivalent devices to make mundane tasks simpler and more efficient. For example, employees can use Amazon echo to ask Alexa to schedule meetings for them instead of manually adding them to their own calendar.
These solutions are only superficial problems. With the continuous development of technology and the Internet of things, and people find innovative ways to apply them, more choices may appear in the next few years.
6. Prove that your project is correct
While most companies can benefit from the Internet of things and big data, the timing for investing in your particular business, industry or local market may not be right. You don’t want to jump into the IOT trend just because it seems like a wise thing to do. Before you start the first IOT pilot project, make sure it’s a smart choice for your business.
Make sure your investment helps solve problems within the company, such as optimizing transportation, reducing costs, or improving employee efficiency.
The Internet of things is developing rapidly. Business leaders need to be vigilant to make sure their companies don’t get into trouble. Start preparing now so you can easily cope with the upcoming Internet of things boom.