I recently wrote about the growth of the Internet of Things (IoT) – an umbrella term for connected devices – and how enterprises can manage the costs associated with this major trend. Analyst firms are predicting that the interest in IoT will continue to grow in the coming year, driven by consumers’ demands for wearables and smart solutions such as connected cars and homes.
Gartner took an in-depth look at the trend with its report “Hype Cycle for the Internet of Things, 2014” in which Analysts Hung LeHong and Alfonso Velosa posit that IoT “has the potential to transform industries and the way we live and work.” For the third year, they put together the comprehensive Hype Cycle to help enterprises assess the levels of risk, maturity, and hype associated with the transformative IoT trend.
Gartner’s report is a great read and I highly recommend it. But at 110 pages, it’s definitely a time commitment, so I’d like to summarize some of the key points for you.
First, Gartner talks about the challenges brought on by the connected IoT world:
“Asset-intensive and industrial enterprises are already well experienced with connected assets. But there is a difference between proprietary and closed implementations of connected assets and the IoT. Operational technologies (OTs), which is the term Gartner uses that includes connected assets, are going through an evolution that have these enterprises questioning the shift toward more ‘modern’ Internet and big data technologies. For example, the use of the cloud to connect assets brings many advantages, such as on-demand computing resources and storage. But the cloud also brings connectivity and security issues.”
I read this with interest, as it aligns to what we’ve been seeing among our customer base at Tangoe. The wide variety of connection points available to enterprises today such as fixed, mobile, cloud, and machine-to-machine have created significant opportunities for enterprises in increasing productivity and efficiency, but also risks and challenges with managing this ever-more-complex environment.
Enter Tangoe’s vision of the Quantified Enterprise. In today’s hyper-connected environment, enterprises will have the opportunity to thrive by making data-driven decisions to continually improve their business. Gartner goes on to discuss the huge opportunity that IoT creates for enterprises:
“Expanding beyond the industrial and public-sector use of IoT, business enterprises in general are looking to leverage the IoT to improve the overall effectiveness of their employees and workplaces. A key area enterprises are experimenting with is the application of the IoT to the day-to-day work environment for most employees. By adopting a people-centered focus on how IoT can help employee performance, promote new ways of working, and eventually take advantage of smart machines (such as virtual personal assistants and smart advisors), enterprises expect to raise productivity.”
We agree that organizations can benefit from the IoT, and pass these benefits on to their customers. However, they need to revisit how they manage their environment to take advantage of this trend. To address the increasingly-complex needs of today’s enterprises, our Matrix solution suite helps unleash the potential innovation and productivity throughout the enterprise. It builds the pathway to the data that will drive next-generation decision-making, launching organizations into the age of the Quantified Enterprise, where they can use data from each connection point to drive real actionable insight into every facet of enterprise operations.
To address the specific challenges of the Internet of Things, we have developed MatrixMachine. While M2M, or IoT, has the potential to revolutionize industry, by providing powerful insights into current and future trends, enterprises need to be able to efficiently, accurately, and effectively turn-on, track, manage, secure, and support the infrastructure for their IOT.