Commentary

96% Challenged by IoT Projects, 42% Targeting Consumers

Projects around the Internet of Things are getting underway but just about all of them are facing challenges.

One of the many early challenges is how to measure success, according to a recent study.

Only a third (33%) of those involved in IoT have quantifiable metrics to track success, according to the study IoT Meets Big Data and Analytics.

The study, conducted by Dimensional Research for ParStream, comprised an online survey of 200 businesspeople who have professional responsibility for IoT projects.

Almost half (47%) said their IoT initiatives were driven by strategic business investments and 42% are targeting consumers.

But the success metrics are still somewhat of a work in progress. Here’s how the success of IoT projects are evaluated:

  • 38% -- Objective is to explore options, so the process of learning will be the business success
  • 33% -- Have quantifiable metrics to track success
  • 29% -- Have documented goals, but they are difficult to quantify

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But the success metrics are but one of the challenges of IoT implementation. Almost all (96%) of those involved in IoT projects say they face challenges in one form or another.

The challenges range from policies to issues with the actual technology. For any of you involved in IoT projects, this list of challenges from those already involved in IoT may sound familiar:

  • 58% -- Business processes or policies, such as privacy issues
  • 51% -- User adoption of new technology
  • 41% -- Timely collection and analysis of data
  • 40% -- Sensors or devices

If nothing else, brands, agencies and businesses of all types who walk or dive into the Internet of Things can expect a bit of an uphill climb, which should be no surprise considering the magnitude of the tech and behavioral transformation involved.

But those who start will be among the first to tackle and figure ways to get over the bumps in the road.

 

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