{"id":681,"date":"2018-05-14T05:42:47","date_gmt":"2018-05-14T02:42:47","guid":{"rendered":"http:\/\/kusuaks7\/?p=286"},"modified":"2021-05-17T19:21:02","modified_gmt":"2021-05-17T19:21:02","slug":"the-number-one-iot-challenge-use-case-identification-validation-and-prioritization","status":"publish","type":"post","link":"https:\/\/www.experfy.com\/blog\/iot\/the-number-one-iot-challenge-use-case-identification-validation-and-prioritization\/","title":{"rendered":"The Number One IOT Challenge: Use Case Identification, Validation, and Prioritization"},"content":{"rendered":"

Ready to learn Internet of Things? Browse courses<\/a> like Internet of Things (IoT) Training<\/a> developed by industry thought leaders and Experfy in Harvard Innovation Lab.<\/em><\/strong><\/p>\n

You can\u2019t get to the \u201cWhat\u201d and the \u201cWhy\u201d by focusing on the \u201cHow\u201d<\/p>\n

In the gold rush to \u201cmonetize\u201d IOT, organizations are frantically installing sensors on everything that moves (and some things that should not move), hoping that someone in the business will figure out a way to get financial value out of the resulting data[1]<\/u><\/a>. Yep, saw this approach (and am still seeing this approach) with Big Data\u2026and Business Intelligence\u2026and Data Warehousing. Heck, this approach happens so often that it now has an official name \u2013 the \u201cField of Dreams\u201d approach:<\/p>\n

\u201cBuild it (or in this case, capture it) and they (meaning business users and the resulting business value) will come.\u201d<\/p>\n

<\/p>\n

Figure 1: \u201cField of Dreams,\u201d a fantasy\/drama was filmed in 1989 in Dubuque County, Iowa.<\/p>\n

Great movie. Unfortunately, it\u2019s not really much of a business strategy.<\/p>\n

So while we have an amazing compilation of technologies, sensors, gateways, connected devices and such for capturing data, understanding ahead of time what you are doing to do with that data \u2013 and why \u2013 is important because it frames what technologies, architectures, data, analytics and applications the organization is going to need in order to \u201cmonetize\u201d IOT.<\/p>\n

So before you jump into the IOT pond, let\u2019s make sure that there are no logs, boulders or sea monsters waiting for you. Let\u2019s start our IOT journey by first creating an \u201cIOT Business Strategy.\u201d And to create this IOT business strategy, you\u2019ll not only want to identify the business use cases, but you\u2019ll also want to validate and prioritize those use cases because not all use cases are created equally.<\/p>\n

By the way, consider this your IOT \u201cCLM\u201d insurance policy (you may have to look that one up).<\/p>\n

Step 1: Identify Use Cases<\/strong><\/h3>\n

Start your IOT business strategy by interviewing and conducting facilitation workshops with business leadership to identify the potential IOT use cases. If possible, tie those use cases back to the organization\u2019s key business initiatives if you want your IOT business strategy to provide the desired financial impact.<\/p>\n

NOTE: for this example, the business initiative is to \u201cincrease same store sales by 7%\u201d which is worth ~$191M annually. The business initiative is comprised of a number of use cases (or clusters of decisions) including:<\/p>\n