It was an honor to present at IoT Evolution Expo in Orlando, FL, the location of the Magic Kingdom! The three-day event attracts business leaders and innovators in the IoT space. This year’s expo included presentations on Industrial IoT and fog computing, as well as panel discussions around Women in IoT. My presentation focused on the IoT cloud and how your business can use ARTIK cloud services.
Cisco recently surveyed 1,800 IoT product companies and found that a majority (75 percent) of IoT projects are not successful. Some of the key issues behind this discrepancy include not having the right team, which includes lack of expertise in IoT; underestimating integration efforts, and poor data quality.
Below are some of the key takeaways from my presentation, titled “What is the IoT Cloud and How Can it Help My Business?” Keep these points in mind when you build your next IoT solution, and you will see good results!
Hire the right people. In order to surpass 20 billion connected devices, we need more than 10 million IoT developers. Finding IoT development resources is challenging given the complexity of development. This includes the need for multiple strands of knowledge: data strategy, hardware/software development, connectivity, and machine learning/artificial intelligence. Make sure you have the right talent in place in order to execute your IoT strategy. This brings up the next point…
IoT requires a strategy. Although you may have connected your IoT device, this does not make it a smart device. Creating value in a product heavily depends on the data and outcomes you generate for consumers.
Interoperability is critical. Break down the silos. Devices that work in silos truly minimize the full capability of IoT. Interoperability is required in 40 to 60 percent of connected settings, and this percentage will only increase as more devices are connected. For example, a smart thermostat is not sufficient on its own. However, connecting that thermostat with your WeMo switch, your Amazon Echo, and your Philips Hue lighting provides more opportunities for smart and valuable interaction.
Act on the data immediately. The value is in the data, and data is considered most valuable when it is acted on immediately. With ARTIK cloud services’ new machine learning capabilities, your devices can be even smarter. Using our anomaly detection feature, you can receive a text alert when your IoT devices demonstrate unusual behavior. Using our predictions feature, you can foresee what could happen based on previous data values. Machine learning can be used to write new kinds of Rules, such as turning on the lights when a family member is likely to wake up.
Focus on outcomes. According to IoT expert Bruce Sinclair, “Customers do not really want your product; what they want is what it can do for them.” When building out your IoT solution, think about what the customer wants to achieve, rather than what product they want to buy. For example, if you build a wearable that specifically addresses a customer’s health and fitness goals, the customer will then understand that your device can help them to reach their goals of being healthy. Focusing on the outcome will also lead you to consider how connecting additional data points and devices to your solution can help achieve this goal. An example is a caloric intake tracker linked to a Withings scale or a Withings blood pressure monitor.
When we started thinking about this problem five years ago, we were living in a world of devices that spoke different protocols and used different standards. This is still the case today, but it is changing. ARTIK cloud services brings all devices together—Samsung devices, non-Samsung devices, new devices, legacy devices, and third-party devices—and further enables them to connect with other services, applications, and ecosystems, in a way that is future-proof. Today’s IoT solutions must work with devices and services that have not yet been invented. We have achieved our vision so that you can bring yours into reality.
To be a part of the IoT revolution, refer to the experts, do your research, and take action now.
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