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Building your IoT Strategy in 3 Steps

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This guide examines how a global manufacturer of connected commercial products – in the security and access control market – embarked on their IIoT journey from proof-of-concept to a smart product line. 

Using a business-first approach, data analytics helped accelerate the transformation of this Smart Product Manufacturer (SPM) into a connected business. Upon the deployment of their smart devices, they were able to rapidly increase sales, optimize services, and improve customer experience.

More specifically, the guide focuses on:

  1. The 3-step process to ‘getting started’ on an IoT proof-of-concept
  2. Measuring the ROI and value across the various stages of an IoT strategy.

Key takeaways include:

  •   Start with small-scale IIoT projects driven by product and innovation teams
  •   Ensure your IIoT strategy is data-driven to assess the value of your investment
  •   Work with trusted solution partners who bring proven IoT implementation expertise
  •   Value of data from a connected product evolves across different stages of IIoT lifecycle
  •   Cross-team alignment is crucial for a successful transformation to a connected business

Embarking on an IIoT initiative within an established company can be daunting. Most companies are at an early stage of discovery when it comes to IIoT, and aren’t always sure what the starting point should be. Innovation groups within the organization can help by targeting pilots and proof-of-concepts, first. This allows companies to build a clear assessment and business case for a wider, phased IIoT adoption.

These initiatives are usually led by Product, R&D and/or Open Innovation teams. They involve an end-to-end engagement with clear key success criteria, across multiple solution providers along the IIoT value chain. Connected data from the value chain will provide crucial insights to determine the value of the team’s IoT investment.