Business are rushing into IoT like lemmings

Many companies are adopting IoT without knowing if it will help their business

Companies are rapidly adopting IoT even though many don’t know if they’re getting a good return on their investment.

Two-thirds of companies are now using or planning to use IoT, according to a global survey by research firm Strategy Analytics. That’s up from just 32 percent last year.

But 51 percent of those aren’t sure whether the new technology is paying off, said Laura DiDio, an analyst at the firm.

That doesn’t necessarily mean the internet of things isn’t saving them money or improving their businesses, DiDio said. But many organizations evaluate and deploy new technologies in such a fragmented way that they don’t know the full effects of their actions. It's actually better with IoT than with most other new technologies, where an even higher percentage can't measure the benefits, she said. But a disorganized approach isn't helpful in any case.

IoT comes in so many forms that it can fly in under the radar. In building management, for example, it may just come as an added feature for an existing system and never get labeled as IoT. Or one department will seek out IoT on its own.

In other cases, the CEO hears about IoT and and dictates that the company will adopt it without even examining the costs and benefits, DiDio said. That’s not the best way to go about it.

“You have to get all the stakeholders involved from the get-go, and often that doesn’t happen,” DiDio said.

Any localized IoT deployment can have broader implications because of things like data security, which was the top technical challenge of 56 percent of survey respondents.

And while data analytics is a common motivation for deploying the technology, many companies aren’t ready to make use of what they’re collecting. The survey showed that 42 percent found they had too much data to analyze it all efficiently. Meanwhile, 27 percent weren’t sure what questions to ask about the information, and 31 percent simply don’t store any IoT data.

“We’re still very much at the early stages of the learning curve,” DiDio said. “It’s challenging.”

Though a majority of companies have some IoT now, only 25 percent have an end-to-end deployment. Most companies will need vendors, systems integrators or consultants to help them get there, DiDio said. Big IT players are doing their part to cover the bases by forming partnerships and buying smaller, specialized companies.

The survey results came from 350 respondents, including small, medium and large enterprises. They’re using IoT for tasks that include video surveillance, smart building controls and health care.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Stephen Lawson

IDG News Service
Show Comments

Cool Tech

Toys for Boys

Family Friendly

Stocking Stuffer

SmartLens - Clip on Phone Camera Lens Set of 3

Learn more >

Christmas Gift Guide

Click for more ›

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Aysha Strobbe

Microsoft Office 365/HP Spectre x360

Microsoft Office continues to make a student’s life that little bit easier by offering reliable, easy to use, time-saving functionality, while continuing to develop new features that further enhance what is already a formidable collection of applications

Michael Hargreaves

Microsoft Office 365/Dell XPS 15 2-in-1

I’d recommend a Dell XPS 15 2-in-1 and the new Windows 10 to anyone who needs to get serious work done (before you kick back on your couch with your favourite Netflix show.)

Maryellen Rose George

Brother PT-P750W

It’s useful for office tasks as well as pragmatic labelling of equipment and storage – just don’t get too excited and label everything in sight!

Cathy Giles

Brother MFC-L8900CDW

The Brother MFC-L8900CDW is an absolute stand out. I struggle to fault it.

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?