Post pandemic, businesses are more sharply focused on executing full-fledged IoT implementations
Now is time to get back to normalcy from Covid-19. Even though when the virus is not gone and is having a second wave in countries like the United Kingdom, Germany, Italy and many more, the urge to work on the full spirit is making more impact than ever before. The fallen economy and unemployment have made people step into companies even when it is preferably unsafe, but with regulatory norms. However, the adoption of technology by organizations that spearheaded during the remote working times is here to stay even after people returned to normalcy.
Ultimately, some businesses are adopting technology on a large scale than ever before. Pre-pandemic, organizations sought Internet of Things (IoT) strategies only to create data-driven products, operations and services. But today, businesses are more sharply focused on executing full-fledged IoT implementations. A survey conducted by Forrester consulting revealed the areas that IoT was being implemented and the struggles that companies faced while bringing the technology into their normal working cycle. Businesses use IoT largely to escape pilot purgatory and reliably scale their implementation to add organisational values. Some of the most impactful areas of IoT implementation are,
Here are some of the IoT implementations that could become new normal
Conquering data challenges and opportunities
When companies started working remotely, the collection and use of data drastically spiked. The data was used to analyze their past and to predict the future of the company. This became a new normal even when workers shifted back to committing to the company environment. The data collection and processing enables them to make the best possible decisions quickly, with the least risk. Ultimately, organizations are moving towards being ‘always-aware’ enterprises, which requires usable data from all relevant sources.
The company’s responsibility not just relies on collecting and utilising data, but also at keeping it secure. In both the consumer and industrial contexts, a company’s data management strategy will dictate the success of its connected ecosystem. This dimension is called ‘servitization.’ It leverages new opportunities and business models built on smart, connected products, in which businesses create knowledge-based service offerings around their existing product portfolio.
Developing the capabilities for ‘Always-Aware’ insight
Organizations merge their routine work with digital technologies to yield better outcomes. For example, a water pump manufacturer was undergoing loss as the company’s products were so reliable and long-lasting that the company was losing sales. Henceforth, the company integrated electronics and remote monitoring, which transformed it into a leader on the sustainable delivery of water and intelligence. The company constructed an IoT platform built on Microsoft Azure that enabled it to gather structured and unstructured data from 16 million pumps annually, using algorithms to perform analytics at the edge while sharing meaningful data securely via cloud.
Assessing the next steps
The Forrester study unraveled a set of recommendations that could help move organizations towards being an always-aware enterprise.
IoT novices should ensure that they have a clear objective and a path to distribute IoT data to key users.
IoT-aware businesses should focus on identifying structured, unstructured and analytics required stakeholders while also solidifying and aligning their IoT strategy both internally and with third parties.
IoT-Committed organizations can move into aggressively expanding the monetization of their IoT data