Beyond the Hype: Three Ways to Maximize IoT Budgets

Those who execute purposeful planning and implementation when deploying Internet of Things technologies can ensure both short- and long-term success.
By Dayan Rodriguez

2. Employ custom integration networks to drive interoperability.
The largest challenge in IoT implementation is successfully connecting multiple IoT systems. As noted above, the underlying communications infrastructures connecting most systems 'do not speak the same language. However, modern IoT architectures, standards and networking solutions greatly simplify this area. Multi-protocol gateways, IoT-centric standard messaging protocols, and automated discovery and data population software platforms can reduce the effort and cost, while increasing scale and accuracy. When combined with hybrid edge, cloud and analytics architectures, IoT data can flow into big data analytics platforms much more cost-effectively than past implementations.

3. Engage all business areas to drive internal alignment.
For every IoT implementation, a cross-functional team with different mindsets and skills must be identified, followed by the determination of the key factors and functions for the success of the implementation, from company goals to industrial characteristics and interconnectivity, maximizing reuse of legacy equipment when it makes sense. Following a holistic approach with all relevant parts of the business contributing, in conjunction with a good understanding of industry standards, will maximize the impact of the IoT solution.

How Do You Define Success?
In order to utilize IoT networks and associated budgets most effectively, enterprises must measure efforts against specific metrics of success. Successful IoT integration means increasing awareness of your operating environment, making smarter, faster and more dynamic decisions, and improving business outcomes.

This could mean improving productivity on a manufacturing line, increasing resiliency to support new use cases, or making sure heavy industrial equipment systems last longer and save more money. It could even mean gaining more value from data through analytics or delivering new services to customers.

It is natural for additional implementation complexities to arise as the number of IoT devices and applications increase almost daily. The key question right now is not "What is the IoT?", "Should we invest in it?" or even "When should we invest in it?", but rather, "How are we going to implement the IoT?" While the Internet of Things is still a shiny new toy for some, that should not detract from purposeful planning and implementation. Those who execute this can ensure not only short-term, but long-term success.

Dayan Rodriguez is the VP and head of consulting for Internet of Things and Industrial Internet of Things at Genpact. Previously, he was the global business manager of the IT/OT Business Unit at Rockwell Automation, where he led the company's IIoT, cloud and managed services. Dayan has more than 18 years of experience in engineering, manufacturing, automation, information systems, IIoT, IT-OT convergence and industrial cybersecurity. He regularly lends his expertise when working with clients on challenging projects across numerous industries and verticals. He has deep expertise in applying IoT and IIoT programs for global clients, and serves as a subject-matter expert for end-to-end enterprise solutions for Genpact's customers.

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