The Internet of Things (IoT) has the potential to solve the major challenges of any industry. Many organizations have moved beyond theorizing about IoT’s potential to implementing real IoT solutions that generate quantifiable benefits. Mazik Global has laid out a roadmap to help manufacturing companies successfully plan and implement IoT solutions in a newsletter featuring Gartner research.
While organizations embracing IoT solutions have great opportunity, implementation data from IoT projects reveals that IoT initiatives often fail to live up to ROI expectations. Gartner predicts that by 2019, 50% of IoT-enhanced products will not have met planned financial objectives . Thus, it becomes critical for organizations planning to implement IoT to carefully review their solutions and take measures to avoid common IoT failure points, including:
- Creating solutions without quantifiable and measurable business benefits
- Failing to properly estimate the full operating costs and maintenance expenses of solutions
- Creating solutions that target multiyear financial payback time
Given the rapidly evolving nature of IoT, organizations must ensure that IoT solutions deliver on the financial goals and objectives that IoT technology promises investors. It is crucial that any organization have a partner that understands their needs and helps to craft a framework and solution that avoid these common failures in order to realize a successful implementation.
Mazik has worked with many customers who are inspired to adopt Digital Transformation, but are not sure where to start. We have identified use-cases and steps they can take now to see success in Digital Transformation later. To do this, we work with our clients to map out their current business processes and imagine what their future processes should look like. Mazik provides an end-to-end approach that enables customers to connect and analyze data in a meaningful way while employing an iterative and agile implementation methodology to bring customers the benefit of IoT quickly and sustainably. Mazik also helps customers understand IoT investment from both a short-term and long-term perspective, so organizations can set proper expectations and realize ROI, TCO, and customer satisfaction goals.
To learn more about our approach, download the newsletter.
To participate in a one-day Digital Transformation assessment workshop, contact us here.