Is Your Organization Prepared for IoT? by Subramanian Iyer

Even as IoT promises significant benefits for companies, it will involve major changes in the way they operate and do business.

Apart from the consumer industry, manufacturing, distribution, and healthcare are the industries that are expected to be most impacted by the Internet of Things (IoT). Organizations in these industries will need to reexamine their entire business models, realign their partner strategies, and rework their processes to continue being competitive in the new, IoT-enabled world.

The benefits of IoT include improvements in operating efficiencies, product safety, location tracking, and time to market as well as potential cost reductions in resource usage. In order to leverage the benefits of IoT, organizations need to understand which areas the deployment of IoT is impacting and how they will be impacted, and prepare accordingly.

People

The emergence of IoT requires people to adapt to changing data visualization. Connected devices will provide relevant users an unparalleled view of detailed data. Businesses will be able to predict requirements through the supply chain, and access to equipment efficiency data will mean lesser breakdowns and predictable outputs.

Action item: Upskill people so they can view, track, and analyze issues across multiple channels including their desktops, mobiles, tablets, and consoles.

In order to leverage the benefits of IoT, organizations need to understand which areas the deployment of IoT is impacting and how they will be impacted, and prepare accordingly.

Process

IoT will enable process optimizations like never before. As information flow becomes faster, decisions will be made more quickly, increasing the overall market responsiveness to situations. Environmental conditions will decide production lines in factories and queues for specialized machines in hospitals, streamlining processes to a significant extent.

Action item: Ensure processes and methodologies are constantly upgraded to enable faster decision-making as data and analyses come in faster than ever before.

Technology

Availability of analytical information and data visualization on mobile devices means that enterprise-level optimization activities will be possible from remote locations, allowing for entire supply chains to be made visible point-in-time. Cloud-based solutions will allow for data to be converted into usable information instantaneously, accelerating the agility of organizations.

Action Item: Ensure the enterprise is equipped with modern technology that can send the right information to the right people, wherever they are. Read the complete article here.

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