The management solutions publisher IFS and the analysis firm IDC are joining forces to present a computer graphic about the rise of the Internet of Things in the enterprise. The document details the perspectives, issues and challenges of connected objects in view of a digital transformation.
The new technologies developed in recent years, especially the Internet of Things, have ushered in a new era for companies in all industries. A digital transformation has begun, and it is this phenomenon which guide growth and drive innovation in the decades to come.
In particular, connected objects can enable companies to collate vast amounts of data with their clients. This information offers new perspectives, but also represents a new challenge.
This is why companies must now put in place a strategy based on the Internet of Things. They must define precise objectives, determine technological needs and anticipate the evolution of this technology. To illustrate this need, IFS and IDC present the computer graphics “Digital Transformation – An Internet of Things Perspective”.
First of all, this computer graphics starts with a forecast for the future. In the year 2020, 75% of large and medium-sized businesses will have spent $1.5 trillion in the Internet of Things solutions. This colossal investment reflects the importance of connected objects for the future of industries. Currently, most investment comes from manufacturing, transportation, energy and distribution industries.
Issues and benefits
Subsequently, the document lists the challenges and benefits of IoT for businesses. The first benefit directly concerns the activity of firms, which will be able to improve their models and increase their operational efficiency. The supply side can also be enhanced by new products and services, whose development will be driven by demand or by new opportunities.
For companies, the main benefits targeted are for 14.2% productivity improvement, 11.8% quality improvement, 12.1% business process optimisation and 9.6% decision making. Crucial issues that the digital transformation can help to achieve.
Tips for an IoT strategy
The computer graphics then show companies how to get started and develop an IoT strategy. The first step, of course, is to inspect the available data, analyse it and find out how it can be exploited. It is then necessary to review and evaluate the different solutions available on the market. for analysis but also for data security. Finally, it remains to choose the best solution provider.
Finally, IFS and IDO explain how this digital transformation strategy can have a positive impact on the company. After analysis and processing, the available collected data can be monetized by develop new services and make new decisions or change business models and revenue streams. This data can therefore play a vital role in the growth of the company.
The computer graphics thus prove the need to put in place a viable strategy of digital transformation centered on the Internet of Things. For more information, interested companies can download the full report on the IFS France website.