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What contributes to IoT success?

The Internet of Things (IoT) continues to grow rapidly. The proliferation of IoT devices and explosion in IoT use cases is ushering in a new era of connected devices. Advances in AI are further powering the growth of the IoT.

Yet, despite this continuing growth, a study by Beecham Research found that only 12 percent of companies classify their IoT projects as totally successful. Given this poor performance, it appears that organisations are still unsure what contributes to IoT success.

What contributes to IoT success?

As with any IT project, every IoT deployment must address a clear business requirement with demonstratable return on investment (ROI). Success depends on good planning, with a clear specification, and effective project management, including in the rollout and adoption of the solution.

However, there are a few specific aspects which must be considered as part of an IoT project which will contribute decisively to its success.

#1. Start with scalability in mind from day one

Successful IoT projects don’t need massive early investment. You can ensure good ROI by starting small and iterating. However, this requires you to consider scalability from day one. You need to know you can expand and scale up as ROI is proven.

#2. Uninterrupted connectivity

Not all IoT projects require uninterrupted 24/7 365 connectivity. However, those that do – such as connected medical devices and critical infrastructure – cannot endure a service disruption. 

In these use cases, you need to build network redundancy so you never lose connectivity. Working with two or more providers, with multiple types of connectivity helps to ensure you have a backup if your primary connection fails.

#3. Low latency

For use cases in which real-time data is paramount – such as industrial and infrastructure applications – latency is another vital element of success. Good connectivity, distributed architecture, and edge computing capabilities can help address issues of latency; the solution should be tailored to the specific project requirements.

#4. Reliable devices

A modular design which allows you to switch out failing devices easily is important. Hardware can fail. Batteries, in particular, are vulnerable to failure. Think about how you can switch out batteries, monitor performance and charge. How can you extend the device lifecycle to minimise issues (and electronic waste)?

#5. Network security

Adding a plethora of new, connected devices adds new vulnerabilities and potential points of access to your network. For this reason, cyber-security must be high on the agenda of any IoT project. 

#6. Data storage

Your IoT devices generate a huge amount of data. You need to be clear about the purposes of this data, so the right data storage, processing, analysis, visualisation and reporting tools can be put in place. Any successful IoT project must have the right data architecture to enable the data to be cost-effectively stored and interrogated effectively. 

#7. Network monitoring

IoT networks need to be monitored – not only in terms of the data they generate, but also from a cyber-security perspective. This way, you can ensure they are operating efficiently and you can address any issues before they escalate. 

#8. Analytics capabilities

The ROI of any IoT project will depend on your success in using the data generated by your IoT devices. The need to invest in data analysts, data visualisation tools and – increasingly – AI solutions to mine the most value from the data you hold is, therefore, critical to the success of your IoT project.

IoT success factors

Your IoT project success isn’t finite. You can continue to build and grow your IoT installation, adding new capabilities, new connectivity and new analytics and visualisation tools as time goes on. In this way, your project can continue to evolve to meet the needs of your organisation, customers and other stakeholders – ensuring its ongoing and long-term success.

Whats Next?

Deliver IoT success