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Where Should I Start with IoT?

Blog: Where Should I Start with IoT?

Where Should I Start with IoT for Business?

We came across an interesting article by Scott Matteson, which delves into calculating TCO and ROI for enterprise IoT implementations. Scott outlines three key factors crucial for determining TCO and ROI on IoT projects: current environmental costs, IoT implementation costs, and the projected savings the IoT project will deliver.

Leveraging IoT for Business Success

While articles like Scott’s are invaluable for justifying IoT projects, many companies still struggle with the question: where should we begin? Experts often suggest focusing on certain categories such as Energy Efficiency and Sustainability, Optimizing Asset Availability and Performance, Smart, Productive, Profitable Operations, or Mobile Insight and Proactive Risk Mitigation. However, these broad categories don’t provide a clear starting point.

In our opinion, organizations should take a small-scale approach to IoT for business. IoT can be overwhelming, especially on a macro level, and requires significant change management. However, this doesn’t mean companies can’t start small to prove ROI and gain efficiency. In simple terms, it’s about connecting hardware with software – getting existing devices connected.

Consider what makes sense for your company, such as remote monitoring, asset intelligence, predictive maintenance, workforce tracking, security, or smart metering, and select one device or function to connect. Begin with a simple use case for your proof of concept (POC) and define success criteria upfront. Once you connect your device/s, you are going to start collecting a lot of data. Then you need to process and analyze the data to turn it into actionable information. How will you present this information and to whom, to drive meaningful change? These are essential considerations that need to be defined up front.

At Motifworks, we recommend leveraging preconfigured solutions available in Azure IoT Suite, like Remote Monitoring or Predictive Maintenance. Additionally, our IoT Accelerator Package offers a rapid 6-week delivery for a working proof of concept.

By starting small and focusing on practical implementation steps, companies can pave the foundation for successful adoption of IoT for business and drive tangible benefits.

To recap…

IoT is an important part of modernizing your business.  It’s an exercise in change management but doesn’t have to be all-consuming.  We recommend starting small using preconfigured solutions and allowing Motifworks to help you get up and running in just six weeks.  We can help you prove that ROI!