Date post: | 08-Sep-2014 |
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Technology |
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of UK-based firms lack the data center infrastructure required to analyze real-timeBig Data sets
Traditional product-centricorganizations lack capabilitiesin developing andmarketing IoT services
Existing product-focused salesforce is not equipped to sellIoT services
IoT places new demands on customersupport capabilities
Organizations lack Big Data analytics talent toeffectively interpret sensor data
of US-based IT professionalsreport are not prepared to secure an ecosystem of connected devices
Organizations Need New
Functional Skill SetsIoT Creates Significant
Technical Challenges
Why Have Organizations Been Slowto Get Off the Blocks?
60%
50%
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The Internet of ThingsAre Organizations Ready
For A Multi-Trillion Dollar Prize?
Cisco and GE estimatethat the size of the IoT pieis over $10 trillion
By 2020, over 40% of all datawill result from machinestalking to one another
For Most Organizations, These are Early Daysin the Adoption of IoT Solutions
supportremote operability
offer performance improvement insights
Maturity of IoT Solutions
Monetization of IoT Solutions27%
34%
10% 10%have madeacquisitions
have developed open platforms or APIs
do not generateservice revenuesfrom their IoT solutions
provide IoT solutions that integrate with third-party offerings
Organizations Are Not Utilizing All Options for IoT Capability Build-Up
Integration with Third-Party Solutions
70%
13% Home Applianceand Pharmaceuticals
IndustrialManufacturing
Medical Devices
Utilities and AutomotiveManufacturing
Insurance
Increasing order of maturity
Maturity of IoT Solutionsby Industry
Sources: 1. "The Digital Universe In 2020: Big Data, Bigger Digital Shadows, and Biggest Growth in the Far East”, December 20122. Bloomberg, “Cisco CEO Pegs Internet of Things as $19 Trillion Market”, January 20143. GE, “Industrial Internet: Pushing the Boundaries of Minds and Machines”, November 20124. ComputerWeekly, “Inadequate datacentre infrastructure is a barrier to big data analytics”, June 2013 5. Vitria, “The State of Real-time Big Data Analytics: 2013 Survey Results”, September 20136. PR Newswire, “SANS Announces Results of its 2013 Securing the Internet of Things Survey”, January 2014
How Can Organizations Build a Successful Internet of Things Solution
Acquire the Right IT
InfrastructureStrengthen Functional
Capabilities
Provide IoT-specific training andincentives to thesales force
Augment productmanagement capabilitieswith services expertise
Develop real-time customer support capabilities
Invest in scalable data storageinfrastructure to keep pace withgrowing volume of sensordata
Use distributed dataprocessing frameworksto manage data
Build real-time data analytics capabilities