Enterprises Without IoT Strategies Are Already Behind

The Internet of Things (IoT) is already transforming the way information is processed and communicated in such a rapid way that enterprises without a powerful IoT strategy are likely to find themselves lagging behind.

Gartner recently predicted that by 2020, almost half of companies’ revenue will come from IoT. They also expect 25 billion “things” to be connected to the Internet by then, inevitably making our lives more interconnected and our devices more aware than ever. This prediction, alongside the fact that IoT is now prevalent in our everyday lives, means that enterprises without IoT technology are looking for solutions. Interestingly, they are looking to startups for help.

IoT Transcends Industries

Traditionally, technology was categorized by industry, application or type. Startups with innovations in telecommunication tested their technology with telecommunication enterprises; startups operating in the BI world test their technology with BI enterprises, and so on. Since IoT transcends industries and traditional categories, many enterprises lack the infrastructure to test new technologies in their existing ecosystems.

IoT technologies have been developed and integrated in nearly every industry from transportation to agriculture. Even healthcare is getting in on the action – there are now medicine boxes that can remind patients to stick with their prescription regimen. But without standardization and security, enterprises are apprehensive and reluctant to move forward with startups. Testing technology in IoT is still one of the leading challenges they need to overcome.

Fortunately, the recent transformation of IoT testing has simplified the process for enterprises as well as startups, allowing for rapid testing and thus adoption of IoT technologies - a feat that will undoubtedly improve the innovations in IoT and jumpstart B2B and B2C businesses to adopt it into their everyday strategies. Enterprises are able to test and scale new IoT technology while minimizing their risks and without compromising their data.

Security concerns, as well, are real. But they’re already being addressed. The challenge with IoT is the number of devices, most without security features, that will be added to a company’s network, essentially opening a backdoor for hackers. Beyond merely monitoring and detection through IoT, the fact is the proliferation of devices and the commensurate monitoring there will be an equal explosion in the number of potential security alerts.

Analyzing alerts is typically a manual process, and as we all know, tediously time-consuming. However, NYC-based Siemplify offers a solution they call Security Automation & Orchestration, which essentially comprises of a platform that automates the handling of large volume alerts plaguing security teams, providing the necessary collects data from endpoints in mobile devices and the IoT and places it into a larger context, enabling analysts to identify genuine attacks. The strategy is inevitable as the number of devices connecting to networks shows no signs of slowing down.

Game-Changing IoT Innovations

Historically, customer relationships were built on the foundations of face-to-face interactions. The Internet of Things disrupts all that and enables new mediums for communicating with customers.

For startups with innovations in IoT, a Pilot-as-a-Service platform provides much needed access to enterprise decision makers, whilst simplifying the process of large-scale testing for their technology.

Enterprises want to change the way people view and rely on objects. Whether establishing their own IoT technologies or relying on collaborations with startups, this requires more access to data from existing technologies.

From self-driving cars to autonomous drones and teller-less banks, IoT innovations seek to radically disrupt the world and the daily operations of businesses in a way that increases the reliance on technology and optimizes connectivity and data transference.

B2B companies that have previously perceived the IoT world as one reserved for B2C companies, now recognize the impact IoT has on their own operations and as a result, are seeking startups with IoT innovations in industrial capacities.

In Conclusion

Simplifying machine management and reducing human involvement are leading priorities of enterprises today; a solution which IoT aims to solve.

Author:.

A native of Atlanta, I'm the inside sales manager for a major software company in Georgia. I was always fascinated with the fields of marketing and computers and to be able to combine these two topics together for a living is a dream come true! I'm a huge fan of the Hawks and Falcons (No, not the birds. The teams!). Love old school rock music and that's pretty much all there is to know. For more information, you can visit my website.

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