The use of IoT for business operations is developing rapidly and has already been proven to deliver huge new value. Yet IoT projects have many elements that all need to work effectively and seamlessly together. The many moving pieces and interdependent relationships of any given IoT project means complex builds and even more complex ongoing support.
As unexpected complications and challenges arise, a large portion of these projects stall – or collapse altogether. In fact, it is estimated that nearly three quarters of all IoT projects will not be considered successful by the organizations using them. Many are abandoned in the proof of concept stage. The high failure rate is cause for concern – but also shouldn’t be a deterrent for companies looking to capitalize on innovative IoT solutions.
The first step to setting your IoT solution up for success – and maximizing your return on investment – is to identify and avoid the most common obstacles standing in the way of deployment. Through detailed interviews with IoT solution providers and enterprise users and qualitative surveys, Beecham Research has partnered with KORE to create an extensive report on the reasons IoT projects fail, or never get started, and what we can learn from them. Ultimately, what they found, was that there was no “one right way” to successfully create and deploy an IoT solution. However, there are key experiences and insights you can draw upon to give your solution a leg up. This report explores what typically goes wrong and why, and suggests remedies for overcoming these challenges.
This 100+ page report (4MB) is free to download and essential reading for anyone involved in building an IoT solution for their organization.