What’s the one piece of advice for a business leader interested in the Internet of Things?
Your question is about the single most important piece of advice for business leaders related to IoT.
Based on interactions with dozens of business leaders who are involved with IoT and some of their bitter experiences, my advice would be: Do NOT neglect security issues!
Where are we going for business expansion?
How are we going to get there business?
What is my role towards seeking opportunity?
I agree with Maris Martinsons' comment. I consult on behalf of a managed technology services firm and approximately 65% of network attacks are upon endpoint devices, such as printers. Following from this, my question would be about the organisation's security policy for endpoint devices and how it compares to the security provided to their servers.
Intended Use of IoT that takes advantage of the network throug (integration of data accross te network), simplification (of multi stream processing through access to thus centralised, integrated data eg "bid data"), to deliver simple end user solutions via API's.
To achieve the value proposition through consensus amongst the participants that establish realistic expectations early in the project through a joint governance model with measurable and realistic performance metrics. If the organization is transitioning into a blockchain based solution, then smart contracts will require additional elements for consideration (e.g., legal if the transaction occurs cross-borders and you are assessing penalties through an auto-enforcement mechanism as an example.)
Trust me the ideology of internet of things is a good one, however it comes with certain challenges which business leaders must not ignore:
1) Security issues: in a cyber world a lot of security issues abound, data theft, server breach and all related issues to technology. The case of Industrial Espionage is also an issue where information leaks out through the use if technology.
2) Illiteracy: In countries like Nigeria where it is a struggle for an average businesses leader to become IT competent, the possibility of internet of things is defeated as it takes a lot of struggle to understand the process let alone using the integrations that come with it.
3) Poor infrastructure: in less developed nations like Nigeria, the infrastructure available for data driven processes are poor and thus internet of things may not work.
If you are running business in a developed country invest in IoT . Its shifting gears in modern technology advancement.
If you are in a developing country , watch and learn the growth pattern. You may have to wait for some years to follow .Invest as a Back office in development.
If you are in a under developed nation , Not the right time to invest. Learn and get ready for future.
I agree with Deja, with modern technology almost anything can be monitored and networks allow for global distribution to anyone who has access to the internet.
Access to reams of information may be nice to have, however there is always a cost involved and if there is no value add then why do it!
To learn how to create a site
That depends on himself and not on others
To have a passion for entrepreneurship
Be patient
Good Day,
What is the purpose of IOT in your business?
Does it make value addition?
Whether customers are willing to pay for the services?
What customer will do without the services?
Answer the above and you can get the solution
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