IoT, Big Data and Cloud are often seen as separate technological trends. Do you think we need an integrated and holistic perspective on these transformational technologies?

Smart organizations are seeking to tie together these technological trends because of their interrelated capabilities.  I believe the Cloud is enabling the spread of the IoT, as well as the ability to capture, analyze and utilize Big Data. Therefore, smart organizations can leverage these three technological capabilities to gain a competitive advantage.

So what should be the cornerstones for every integrated IoT-Big Data-Cloud Strategy?

The focus should be on determining how to embed sensors into products and services to better understand how they are being used by customers so they can be continuously improved and better supported. This means a company must determine the right kind of sensor, network connection, data to be collected and software to manage the IoT deployment. If done properly, this will result in faster response times when problems arise; the ability to anticipate issues before they create problems; the opportunity to improve business operations, products and services; and the ability to identify new market opportunities that can transform the company’s business.

In the last years we’ve seen countless articles, white papers, and studies on the potential benefits of IoT deployments. Do you see any general value levers of the IoT technology every CEO should be aware of?

Successful IoT deployment requires a multidiscipline approach with a series of common goals in mind because every department has a stake in the results. The first objective should be to better support existing products and services. This means using IoT to more quickly notify  the customer service organization of problems as they arise and analyze trend data to determine the warning signs of potential problems. The second objective should be to use IoT to continuously improve the quality of the products and services by seeing how they are actually being used by customers. The third objective should be to use this information to increase sales of the existing products and services, and also increase customer satisfaction and loyalty. The final objective should be to identify opportunities to create new products and services that expand the company’s addressable market.

According to several predictions there should be at least a roadmap if not already an implementation plan in the works for every global enterprise.  But that is apparently not the case. Why is this disconnect there and what might be done to accelerate the pace?

THINKstrategies believes there are six major obstacles getting in the way of many companies moving forward with IoT initiatives. First, the IoT terminology confuses and concerns many corporate decision-makers who are hesitant to rollout IoT initiatives on the public web. Second, IoT deployments require a greater level of teamwork than previous technology trends because it demands the alignment of more lines of business and other business functions to be successful. Third, all of these groups must also be in agreement regarding the tactics they’re willing to adopt to achieve their IoT objectives. Fourth, once they’ve come to an agreement regarding their IoT objectives they must select, assemble and manage a wide array of technological IoT piece-parts. Fifth, most organizations lack talented people with the necessary expertise in IoT. Finally, organizations are still very concerned about the security and privacy consequences of IoT deployments.