Internet-of-things technology is quickly moving beyond the hype and delivering tangible benefits to companies across a variety of industries. Gartner announced earlier this year that they are projecting over 20 billion devices will be connected by 2020. Reading stats like that is very encouraging and confirms the momentum Bsquare is seeing across several industries including Oil & Gas.

However, Cisco recently revealed that one-third of all completed IoT projects were not considered a success. While this information is worthy of note, it should serve as a reminder to managers using or considering IoT solutions that one of the first steps for an IoT project is setting clear expectations of what success means. Defining success early and for each stage in your IoT implementation is critical for all parties involved. Join Bsquare Wednesday, June 14th for a webinar hosted by Dave McCarthy to learn how companies in the Oil & Gas industry should progress their Internet of Things (IoT) initiatives from vision to advanced implementations.

Managers should take the following into consideration when establishing their vision for IoT and selecting a pilot project.

  • Identify business use case – this should be specific and limited in scope within a key business unit. Pilots rarely contribute to process change, so they should be used to determine the feasibility and value of a larger IoT deployment
  • Set clear timelines, budget, and success metrics in order to accurately assess effectiveness post completion. Specific, measureable goals keep projects from stalling or snowballing into a complex series of ambiguous pilots
  • Executive signoff – IoT implementations engage cross-functional teams including line-of-business owners, operations managers, and IT managers, so executive sponsorship is vital. Executive involvement during pilot projects allows for scalability during a full scale rollout in the future.

For more in-depth insights on the IoT journey in Oil & Gas beginning with business problem identification, advancing IoT initiatives, and ultimately making choices that maximize the lifetime value of the IoT solution, be sure to check out this week’s webinar.