You've seen the statistics: about three-quarters of IoT projects fail. Ironically, such numbers can be self-fulfilling prophecies.
To be clear, this number is outdated. The 2020 report from Beecham Research shows that IoT has a failure rate of over 58%, and there is good reason to believe that as technology and understanding grows, this number will continue to decline. In fact, serial to wifi converter this "three-quarters" figure can be traced back to a 2017 Cisco survey that found that 76% of IoT projects never reach the scaling stage. The survey also provided an even more compelling detail: Cisco cited a lack of collaboration between IT and the business as the main reason for IoT project failure.
In other words, stakeholder buy-in—full cooperation between company leadership, IT, operations teams, partners, and customers—is a prerequisite for gaining the benefits of enterprise IoT. It was true in 2017 and 2020, and it is true today. If you've calculated the data and determined that IoT is the answer to your operational challenges, the next step is to convince your team. This is a proven way to gain stakeholder buy-in, and you need to avoid adding daunting statistics.
Building an initial business case for IoT investments
As with any business investment, whether you plan to manufacture IoT products or leverage IoT technology to optimize internal processes, you need to build a compelling business case for your IoT spending. You'll also need to respond to your team members' concerns -- we'll cover these in the next section -- but the conversation starts with the business case.
For product manufacturers, what customer pain points will your IoT devices solve? How does your new IoT product line provide buyers with quick, recognizable value?
Are you just looking to improve operational efficiency for your IIoT and process optimization projects? Is it the reduced value of human intervention, rs485 ethernet adapter improving workplace health and safety, or any of the hundreds of other use cases that IoT addresses?
Whatever it is, keep your goals front and center when pitching your IoT project to your team. Start the conversation with a problem statement that clearly shows the challenge and how the IoT project will solve it.
この記事をシェア
