Many industry prognosticators (and not a few vendors) are pushing Internet of Things (IoT) technology but are somewhat vague as to how financial results for actual businesses will be materially improved. Instead, they tend to focus on concepts like “digital transformation,” which sound promising but is difficult to quantify. This places many businesses in a quandary—they are aware of the fact that IoT holds great promise but they can’t really move forward without being able to identify a tangible ROI. And make no mistake, unlike consumer IoT, and even government-sponsored IoT initiatives (think smart cities), without tangible and quantifiable improvements in financial outcomes (i.e. an ROI), businesses will be hard pressed to move forward with the vigor that industry prognosticators think they should.
Please click here to read the entire article by Jerry Chase in Dataconomy.