The internet of things has become a reality. According to IDC, “By 2021, global IoT spending is expected to total nearly $1.4 trillion as organizations continue to invest in the hardware, software, services, and connectivity that enable the IoT.”
Led by the manufacturing, transportation, and utilities industries, we might expect to see tens of billions of internet-connected things by 2020. Yet connecting stuff to the internet is really the easy part. The biggest hurdle businesses contend with is how to take advantage of this new technology and the data it can provide for customers, partners, employees and shareholders. To profit from the IoT, leaders must first define what they want from connected devices. They must then design and build the digital solutions required to serve those needs or use cases, and have the skill to deploy them successfully in their business operations.
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