A key focus of my blog is Technology. In addition to Artificial Intelligence, the Internet of Things (IoT) is predicted to significantly impact all areas of life going forward. With this new technology, understanding how to properly use it in projects will be critical. The following contributed post is entitled, Achieving IoT Project Success.
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There is no denying that the IoT is cropping up everywhere at the moment. A lot of businesses are deploying IoT projects. However, there are many of them that are failing to have much success. With that being said, read on to discover a number of tips that will help you with your IoT project.
Understand the cost and impact of not doing the project – You need to understand the real cost of improving the process. It is easy to determine hard costs. However, soft costs are more challenging to figure out. If real value can be obtained, the objection of not finishing the project should not even really be an option at all.
Make sure your IoT project will deliver a ROI – In addition to this, you need to ensure that your project is actually going to deliver value. There are a lot of IoT projects that end up not being rooted in true company value, and instead they become more about playing with the latest shiny objects instead. This is why it is critical to ensure that your IoT implementation actually has the potential to deliver ROI.
Begin with a couple of quick wins – You need to understand your current competencies and then aim for wins that are easy and quick. After all, the more success that you take in the beginning, the greater your organizational appetite is going to be.
Enable software and hardware integration – Aside from the tips that have already been mentioned, it is important to make sure that there is feasible integration between IoT software and hardware. Although both software and hardware require good design, their approaches are very different. You need to ensure that your projects have the capabilities and the understanding of the nuances so that they can be bridged.
Understand the impact of scale – IoT puts forward a bigger challenge of scaling services and systems than we have ever come across before. It is not purely about delivering IoT products or devices but it is also about the management of the lifecycle of these devices, as well as scaling edge and back office computer resources and dealing with the volume of data being handled. This is why it is critical to start small and then plan for scale.
Put more research into the front end of development – Last but not least, a greater amount of work needs to be done before development can even begin. This is critical to ensure that it is marketable and relevant. While this may take a bit of time, it will lower the failure rate, which can end up costing you much more money than the extra research would.
As you can see, there are a number of different things that you can do in order to make sure that your project is a success. If you follow the advice that has been discussed above, you can ensure that your IoT project goes as well as possible.