Your business needs should dictate what your IoT platform is. Not vendor definitions. They come in all shapes and sizes. Hoards of them. They are called IoT Platforms. They are hard to differentiate. They combine two words that we wax eloquent trying to describe. IoT and Platform.
For years, we have been hearing about the virtues of IoT and specifically how Industrial IoT (IIoT) is the cure for inefficient machine maintenance and unplanned downtime. While all that is true if zero-downtime ("ZDT") was such a pain, why isn't everyone rushing to get connected and drive maintenance costs down and uptime up?
IoT protocols aren’t limited to internet protocols or the ones that IT domain created. A plethora of standards exist in OT and are tailored for specialized OT applications from production floor control to subsystem connectivity in cars. OT and IT protocols evolved separately with some borrowing from each other.
IoT can be used not only to improve existing business operations but also to create new offerings and new business models. Business models require thinking through the consumption side of your offer — how it is bought and used, and the production side of the offer — how it is created and delivered. We need to think of the offer from the consumer’s lens, i.e. buyer, user, and operator. It is time to go beyond predictive maintenance and reimagining our offerings with IoT. Time to flip some tiles!
Joining IoT and healthcare and leveraging connectivity to deliver care is not as easy as it seems. How can we ensure the successful marriage of IoT and healthcare? Let’s expand the notion of “pathways” to appreciate how IoT can be leveraged in healthcare delivery. The expansion includes the notion that data needs to flow across the players involved in care delivery and money needs to flow to compensate the right parties. We are on our way to professionally managed healthcare using IoT, not just consumer-grade wearables for the fitness-conscious.
Edge computing is a means of processing data physically close to where the data is being produced, i.e. where the things and humans are — in the field area, homes, and remote offices. Since they don’t live in the cloud, we need to complement cloud computing with many forms of computing at the edge to architect IoT solutions. Since we’re referring to computing close to the source of things, data, and action, a more generic term for this type of data processing is: proximity computing. In the next year, we will see reference architectures evolve to support new application patterns for IoT that incorporate proximity computing.
Internet of Things is partly about value creation, using the ability to communicate and control things over connections and automating how we get work done. Products with embedded intelligence talking to the cloud bring the power of remote control to everyday things, much like the iPhone and iCloud has done. All this requires information technology (IT) to be embedded in our business systems that let us operate our businesses. In other words, it is operational technologies (OT) with IT inside. Ergo, IT + OT = IoT in a technological sense.
The right go-to-market (GTM) strategy is needed to ensure you have product-pallet fit to reach your buyers. How your GTM adapts for a connected world is as important as reimagining your product strategy. We’ll look at how these IoT offerings are sold and bought. We will start by looking at channel partner structure in IT and OT worlds and then show them side-by-side to see the almost bewildering impact on GTM strategy when IT meets OT.
The convergence of IT and OT dramatically alters investing activities in corporate development. We’ve been seeing a new type of acquisition by large, vertical-specific OT players acquiring ventures focused on vertical industries. The new digital trajectory of OT affects the strategic investment considerations of a corporate development leader in OT or IT and the strategy of an entrepreneur. How do you align the new target’s investments with internal business unit’s goals? Is the new technology enabling multiple internal businesses? How should it be structured and measured internally if acquired?