Why Do Most IoT Projects Fail?

The Internet of Things (IoT) is often discussed as a revolutionary new technology that can bring businesses to previously unseen levels of success, but it is far from perfect. In fact, a recent report from Cisco raised a lot of eyebrows when it highlighted the fact that 60 percent of more than 1,800 business IoT leaders who were polled said that their IoT initiatives had stalled when they reached the proof-of-concept phase. Moreover, among the 40 percent that did enter into the pilot stage, only slightly more than a quarter could be considered successful.

One of the big reasons these endeavors often fail is the fact that they are so complex to get off the ground. Many organizations have older processes in place for workflow and production that use devices that were never really intended to share data. Integrating newer computer models and creating new flows of data while dealing with various frameworks and protocols from different vendors – not all of which are compatible – can be a difficult undertaking.

Lack of Experience

In addition, there is a need to get staff on board, and training can take a lot of time. In some organizations, operational technology and IT departments are not used to cooperating, and this can prove to be a tremendous hurdle. Staff that has a diversity of experience improves the chances of successful IoT initiatives because changing mindsets at the individual level is not always easy.

Even though a high failure rate is being noted, there is still a lot of optimism when it comes to IoT. The Cisco survey revealed that 64 percent of respondents are trying to learn from IoT failures and continue to invest in IoT, while 61 percent say they are still in the early stages of figuring out how to unleash the true potential of IoT.

This blog post was based off of an article from BizTech. View the original here.

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