Internet of Things Will Impact Organizations, But Will They Be Ready?

26 March 2015

If you look past all the buzzwords and vaporware, the Internet of Things (IoT) is destined to have a transformational – and disruptive — impact on enterprises around the world over the next few years.  But despite IoT’s powerful value proposition, relatively few enterprises have positioned themselves to take full advantage of this technological paradigm shift.

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If you look past all the buzzwords and vaporware, the Internet of Things (IoT) is destined to have a transformational – and disruptive — impact on enterprises around the world over the next few years.  But despite IoT’s powerful value proposition, relatively few enterprises have positioned themselves to take full advantage of this technological paradigm shift.

Enterprise executives face a tall task of understanding the risks-rewards that exist in IoT — not to mention the impact of the IoT on the enterprise.  Although most CIOs or CISOs are well aware of the potential pitfalls in security and privacy, they do not necessarily have the people and processes in place to manage those risks.  Bottom line: IoT can have a profound impact on enterprises, but executives must understand the challenges and opportunities, analyze their organizations’ gaps in security, privacy, skills or other metrics well in advance.

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TFT-Iot-Business- Impact-gartner-logo-More than 40 percent of organizations expect IoT to transform their business or offer significant new revenue or cost-savings opportunities over the next three years, according to a Gartner survey of 463 IT and business leaders who had knowledge of their organization’s IoT strategy.  That share rises to 60 percent over the longer term (five years).

Unfortunately, many organizations and their executive leaders are behind the curve.  The Gartner survey found that less than one-quarter of respondents has established clear business leadership for the IoT, either in the form of a single organizational unit owning the issue or multiple business units taking ownership of separate IoT efforts.

TFT-IOT-Business-Imapact-Snap-LogicThose findings are consistent with a new survey from TechValidate and SnapLogic that found 78 percent of 100 IT leaders at large enterprises weren’t sure when or if they would begin a Hadoop deployment.  Among IT leaders investing in big data technologies this year, 43 percent said they would invest in analytics and 42 percent put integration tools at the top of their shopping lists.

Not surprisingly, security will be a crucial issue for vendors, consumers and corporations, according to Strategy Analytics’ Top 10 Predictions for the Internet of Things in 2015.  In an IoT world that boasts interconnected systems, the risks associated with a successful hack rise commensurately and have the potential to cause greater collateral damage.

As machine data becomes integrated into social network and other enterprise data, executives are under the gun to establish policies around data privacy and ownership.   “The growing number of interconnected devices will raise questions about privacy and data ownership and IoT security,” said Andrew Brown, Executive Director of Enterprise and IoT Research, and author of the report.

Links to Original Sources 

http://www.gartner.com/newsroom/id/2977018

http://www.snaplogic.com/press-releases/new-research-reveals-enterprise-it-uncertainty-around-big-data-initiatives

http://www.prnewswire.com/news-releases/top-ten-predictions-for-the-internet-of-things-in-2015-revealed-by-strategy-analytics-300033879.html

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