Key Findings

The most important issues to address are strategic and cultural

When asked to rank the importance of 21 success factors, executives rated two strategic issues: identifying and pursuing new business and/or revenue opportunities that the IoT makes possible, and determining what data to collect using the IoT, as first and third, respectively. They rated two corporate culture challenges as second and fourth: getting managers and workers to change the way they think about customers, products, and processes, and having top executives who believe the IoT will have a profound impact and are willing to invest in it. Four technology-related issues also finished in the top 10: handling Big Data, deciding which IoT technologies to develop internally vs. using third party service providers, integrating IoT data with enterprise systems, and making sure IoT technologies are reliable and secure.