PERSPECTIVES

How IoT Powers Business and Lifestyle Improvements Now

2020-10-14


IoT apps are thriving among businesses across the industrial spectrum, where they cut costs, enhance user experiences, optimize operations and drive new revenues.

Results from a March 2020 Forrester Consulting survey that we commissioned show that companies of all sizes are increasingly investing in the Internet of Things (IoT) in their businesses, with roughly half realizing sufficient value from their outlays already and the other half striving to overcome the associated challenges.

Analysis of survey data reveals five levers that affect an organization’s ability to succeed in implementing IoT at enterprise scale: organizational strategy, infrastructure, integration of IoT into existing processes and systems, use of data and enablement practices. Respondents who have addressed these challenges reported greater success in scaling up initiatives and experienced more positive outcomes.

Collectively, these findings support our perspective on enterprise IoT: While offering clear and measurable business benefits in the short term, IoT initiatives must be integrated into long-term strategy. IoT should be on the C-suite agenda when planning for the digital evolution of business models.

To illustrate how IoT can be done right, we offer 10 examples of IoT client success stories, across a broad array of industries: manufacturing, energy and utilities, transportation and logistics, banking, retail and consumer products, and real estate and facilities. These vignettes illustrate IoT’s power to deliver impressive results in a remarkable range of environments.  

For additional information see our e-book, “IoT: Powering the Future of Business and Improving Everyday Life” or visit the IoT solutions section of our website.