We’ve talked a lot about taking a phased approach to IoT adoption. One reason (of many) is that only 8% of companies use more than 25% of the IoT data they collect, according to recent market research. So the vast majority of companies invest in IoT, only to see a bunch of information on a dashboard — an adoption shortfall that leaves extensive untapped ROI potential on the table, right alongside all that unused data.
Fortunately, this failure to unlock real business value is reversible. That’s because each progressive stage in IoT implementation can increase potential benefits exponentially.
Many businesses assume they must go “all in” all at once. But taking on too much at a time can get companies stuck with a lot of data and no way to do anything productive with it. There are many possible reasons for this, but often it can come down to a simple lack of actionable steps to make progressive IoT adoption a reality.
The same experience that allowed us to define the phases of a successful IoT implementation, also has helped us identify actions that can help you achieve that success. The specifics of these steps can look different from one company to the next, but they will generally include:
• Work with key departments across your company to analyze business objectives. That will help you identify tangible and measurable goals that are relevant to your business.
• Figure out the sources of both your historical and real-time data. Then determine whether that data can actually contribute to achieving your set business objectives.
• Extend your collaborative analysis to identify your top 1-2 business priorities. Keeping these top of mind helps ensure you align your implementation to the right use cases.
• Based on your established goals and priorities, define what data you will need to measure as well as your optimal deployment method. Don’t forget to track results and align ROI.
For additional implementation tips, as well as a complete overview of the IoT adoption progression, check out our IoT Maturity Model infographic: