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Enterprises can’t afford a ‘do nothing’ approach when it comes to IoT

Enterprise IoT is set to disrupt a large number of industries. A few concrete examples of the advantages that the Internet of Things will bring to enteprises is in enabling new business models, creating new revenue streams, reducing costs, extending and enhancing relationships with end customers, and improving product development processes.

Today Machina Research published its latest Strategy Report focused on explaining the opportunity presented by the Internet of Things for businesses large and small. Enterprises that have started on their Enterprise IoT journey are learning important lessons and gaining distinct competitive advantages in their industries, not least in building longer-term relationships with customers. Successful implementation of Enterprise IoT depends on a number of factors: IoT must be on the enterprise’s strategic agenda, effort must go into identifying and prioritising specific opportunities, the enterprise must understand the technology and business requirements of IoT, including the potentially transformative effect it might have on its business model, and it must establish the relevant partnerships. Above all, Enteprise IoT is a continuous process of development and evolution.

Commenting on the findings, author Emil Berthelsen said: “A ‘do nothing’ stance toward Enterprise IoT is no longer an option for enterprises wishing to grow in their industry space, or even for those simply aiming to defend their market share.”

In this Strategy Report, Machina Research shares insights and answers on Enterprise IoT: What is it? How should enterprises go about identifying and selecting new IoT opportunities? And how should enterprises prepare their organisations for these changes?

The Enterprise IoT journey starts here for many enterprise executives, service providers and system integrators.

About the report

The Strategy Report Defining and implementing your Enterprise IoT strategy is a comprehensive analysis of best practice for enterprises considering deploying IoT. Extending over more than 40 pages, it gives Machina Research’s view on the strategic approach that enteprises must take if they are to take advantage of the opportunity presented by the Internet of Things.