Maximizing the impact of your IoT PoC
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The Internet of Things (IoT) presents a wealth of opportunity. IoT has the power to help businesses completely transform their operations, decision-making, and revenue models—saving money and driving business growth. With a predicted $100M average increase in income for the most digitally transformed enterprises, it’s easy to understand why IDC projects a compounded annual growth rate of 15.6 percent in IoT spending between now and 2020.
That doesn’t mean, however, that these business opportunities can crop up overnight. Many companies may want to use IoT to revolutionize their entire operations instantaneously, thinking there's an immediate way to realize massive business benefits. Such lofty expectations will most likely leave companies overwhelmed and frustrated, setting them up for costly mistakes. But it doesn't have to be that way.
A well-planned proof of concept (PoC) is key to demonstrating the value of your IoT solution before implementing a full-stage rollout. With the right design, you can get results to executive sponsors quickly and iterate on a simple scale, maximizing control of your solution and minimizing the consequences of short-term failures. Designing an IoT proof of concept may seem like a daunting task, but with the right vision and approach any company can develop a successful IoT initiative. In fact, it’s very likely that you already have the pieces in place to get started. The purpose of this paper is to identify the key considerations for each component of an IoT PoC.