Can the Internet of Things provide business value?
- Posted on November 24, 2015
This is a guest blog post written by Avanade alum, Dan O'Hara.
Businesses are obsessed with data, and are gathering more and more of it by the second. In fact, every two days we create as much information as we did from the beginning of time until 2003. But data on its own, without context, is meaningless. It has to be relevant, accessible and actionable.
By accessible and actionable data, I mean we need to have systems and processes in place that make sense of data and give it to employees, allowing them to use their expertise to action it.
The Internet of Things can bring value to your business
We’re living in a very new world of advanced robotics and machine learning. Exciting technologies are there to be utilized, but we need to relate it to the people and values of the business.
We have to look at The Internet of Things (IoT) as an ecosystem; technology, data, process, insight, action and people all play a part in enabling a more efficient digital workplace.
What are the goals of your organization? Start from there and see where IoT can come in to help you achieve them. Explore the data you already have and work out how you can make it more accessible.
Our formula for successful IoT
What’s needed is a comprehensive vision that includes, but goes beyond, IoT. Our vision of the IoT ecosystem includes:
- Operating technology (OT) – generates and manages production systems
- Information technology (IT) – manages information systems. Provides capabilities such as machine learning and predictive analytics
- Future technology (FT) – advances in robotics, wearables and video analytics
Innovative solutions can then be realized, creating true business value (BV). Avanade uses an equation to represent this: OT/IT+FT=BV.
How can I find the relevant data?
We’ve started a program of data hackathons that look at organizations’ data to determine where the business value can be found. An organization may be fixated on a specific dataset, but our team can act as a fresh pair of eyes; in some cases, we find that its focus is on the wrong data.
This works particularly well with larger organizations, where data can become siloed and useless. Using our expertise, assessment and analytics, we can mine for the accessible and actionable data we know will improve their digital workplace effectiveness.