McKinsey and the University of Oxford published a survey that more than 15% in 5400 IoT Technology projects studied went extremely bad that they threatened companies’ existence in the market. The cost of those projects were estimated over USD 15 million. The alarming thing was that 45% of them went beyond budget, 7% missed the deadlines defined, and 56% of those projects were delivered with less value.
Hundreds of all-size companies rush to market with thousands of IoT devices and solutions. Unbeknownst to them lie several hazards and business threats while implementing IoT Technology that would not only waste money but also make the future of the firm gloomy. Here, we come up with seven shameful mistakes while implementing IoT devices and their solutions in any sector. Avoiding these mistakes will help you achieve the target, and will solve the purpose of having IoT Technology in your business.
#1: It’s the users over the technology
Cutting-edge technologies are fine, and it is obvious that you get attracted toward including it in your business. Nevertheless, as with any other strategies, ‘customer’ remains the topmost priority even in IoT Technology. The inclusion of IoT Technology in your business should be practical as they are the ‘people’ who are going to use it. How customers interact with the devices or IoT Technology should be intuitive and easy-to-adapt. No matter what great quality of devices and IoT solutions you come up with, if the end-users don’t find themselves cozy with the system, your efforts will go in vain. In fact, in some worst cases, adopting the latest technology may harm your business.
The new technology, as observed, may create temporary excitement among the users that may lose interest later if the system is too complex to operate. This gives you a hint that before even thinking of IoT implementation, you should come up with a market research that should include the ‘grave need’ of the end-users.
#2: Building castles in the air ignoring the ground reality
Utopia is a perfect state of mind where everything you think is smoothly functioning. However, when it comes to reality, your dreams vanish in thin air. The same thing happens in ‘thinking’ IoT and ‘implementing’ it. If you lack in practicality, you are wasting your time in developing IoT solutions. There comes ‘feasibility.’
It is important to discuss the business objectives, but more important is to discuss the same with your developers. Nevertheless, we have IoT business and technology consultants who play a crucial role in making dreams real. Your clients want everything, but then it should be evaluated and approved by the IoT experts. The feasibility of the project is very important.
#3: Non-friendly devices and systems that kill the trust!
In technical term, we call it ‘interoperability.’ The devices you choose should be easily communicating to each other. The ecosystem created by the IoT is extremely crucial to consider while implementing the system. You should be using a universal protocol allied to architecture that is extendable in a way that it ensures that interoperability work flawlessly. If interoperability is ignored, it may end up in a stand-alone system that would lie in some network eating up your energy, bandwidth, and above all the hefty investment you have made.
Experts also opine that interoperability has also to do something with the ‘scalability.’ That said, the IoT implementation should have the functionalities that can be linked with the future devices and the upcoming technology as well. Scalability simply means that the IoT implementation should not be fuddy-duddy in coming years. It should not get outdated, in other words!
#4: Carelessly playing with people’s data
The security must be of paramount importance when it comes to IoT implementation to any business. Though this serious should not be mentioned, surprisingly, there are many IoT solution companies that don’t consider security in implementing IoT solutions. Security should not be considered as the mandatory ‘check box’ your list.
The thing to note here and avoid mistakes in implementing IoT is the security should not be limited to the systems implemented, but also it should be extended to the IoT devices involved. The third party applications and software should be taken care of. The users have different devices that may interact with your interoperability, and thus, double-check makes a lot of sense. Sheer intelligent IoT systems securely share the data with encrypted codes without losing its flawless functionalities.
#5: No future-ready IoT systems and devices
Though the ‘scalability’ issue is mentioned earlier, the reason to include this as a whole new topic is its importance. The IoT solutions that have come from the ‘general concepts’ may initially look promising but little is thought about their future readiness. Using legacy software and hardware may cut down the cost temporarily and get you the transient results, but in the long run, it will cost you a pretty penny. The bottleneck of data processing between IoT devices and the system architect would fall under a lot of restrictions and limits reducing the overall capability of the IoT.
Your business may not leverage all the features and thus benefits from IoT if the operating systems and IoT devices are legacy and not contemporary. The effectiveness of the whole network depends on the capability of devices to handle the data processing and information exchange. Low bandwidth, RAM, interface limitations, platform inefficiency, and complexly written codes matter a lot. This all may contribute in restricting IoT performing seamlessly.
#6: Leaving ‘monitoring’ the system high and dry
Inadequate monitoring of the network may end up in disaster. Improperly protected systems and devices tend to produce flaws that are no less than a deadly threat to the network. Maintaining security and identifying the bugs as early as possible will keep your IoT system intact. At SP Technolab, we use SAP analytics to leave no stone unturned in monitoring and analyzing the systems.
Suspicious traffic, breaking of encrypted data, real-time flag raising or any security breach should be considered very seriously. The escalations should be handled carefully and sincerely. If required, terminating the information exchange is advised. It is always better to have a renowned IoT solution company in a standby mode. You never know when you need them; it is better to pay for the maintenance of the systems.
#7: Laws turning into flaws
One of the biggest and most dangerous mistakes in implementing IoT is ignoring the legality. Privacy and legal concerns should never be compromised if you want your IoT systems to work without landing yourself into any legal matter.
Whenever you deal with people’s data, the legal matter should be tackled very carefully. What data your systems or devices collect should be made clear; the server should be extremely powerful and secure; and lastly, foolproof data processing should be approved after a robust testing.
There are many other issues than the mistakes mentioned above but if you take care of the major ones discussed here, you are almost securely implementing IoT at your clients’ place by ensuring the seamless functioning of not only the systems but also the devices.