New Bedford, MA - Evidence continues to support the idea that the Internet of Things is the next big frontier in technology and that, companies large and small, across a wide range of industries, need help to look deeper into opportunities to leverage the Internet of Things.
The challenge, however, according to INEX Advisors, a Massachusetts-based Internet of Things advisory services firm, is that most companies are lacking the knowledge, skills and training necessary to be able to successfully deploy these types of technology solutions, whether internally or as an external revenue-producing product or service.
“Evidence from our field work with companies evaluating or deploying Internet of Things solutions across multiple market segments, and from studies we have conducted with our partners, is clear in demonstrating that management and operations teams are serious about investigating, funding and deploying Internet of Things capabilities in the next three years,” stated Chris Rezendes, president of INEX Advisors. “The big challenge is that these companies typically do not have the internal resources to drive Internet of Things adoption or deployment. They are lacking the specific education, training and opportunity identification resources that are required to position themselves, and their partners, to make IoT investment decisions quickly and with confidence.”
Rezendes cited a recent study, conducted by the Economist Intelligence Unit and sponsored by ARM, in which the majority of respondents agreed that a lack of Internet of Things knowledge, skills and training is the single biggest obstacle to using and deploying the IoT more expansively.
The study found that the most committed companies are investing in training and hiring consultants and third-party experts “seeking to build knowledge and identify successful IoT business models.”
“Successful definition, deployment and value creation of and from Internet of Things investments requires a number of new tools,” says Rezendes. “Yes, executives are attending a multitude of industry events both nationally and globally to try to keep pace with Internet of Things market definitions and technology developments, but the greater challenges, and profit, are to be found in addressing a number of deeper questions about the operational, financial and related requirements associated with connecting one class of physical assets or another. We – those who call ourselves IoT experts – need to take them further.”
Pam Sefrino, principal at INEX Advisors, says that companies who are seriously considering adopting or deploying Internet of Things solutions need to go beyond the technology specifications.
“The challenge is getting beyond just the technology itself to deeply considering and mapping the authentic value that the new Internet of Things solution will provide,” Sefrino says. “A deep understanding of the requirements for creating real meaning and impact for stakeholders up and down the value chain is critical for driving scale, revenue growth and ultimately, sustainable margins. There are important considerations and questions, requiring new ways of thinking, that must be addressed before a company ever gets to the pilot stage,” she says.
Given the demand, INEX is launching its new IoT Commercialization Program – How YOU IoT for Scale, Value and Profit this month.
Rezendes and Sefrino say that their goal for these soup-to-nuts Internet of Things education, training and strategy programs is to drive a structured, experience-informed process for getting innovative companies up to speed on the important, but often overlooked, aspects of successful IoT adoption and deployment and its impact on their company, their customers and their suppliers.
The scope of the program includes:
- Definition and RE-definition of IoT and traditional businesses
- Key solution architecture and enabling technologies
- Mapping assets, stakeholders, interest, data and values
- New business models, and implications for existing industries and markets
- Data ownership, privacy, access management and monetization
- Financing IoT
Participants will benefit by gaining a unique perspective on, and deep understanding of, what is required to respond to the opportunities and challenges presented by the Internet of Things. In addition, participating companies will receive live training through the INEX Internet of Things Strategy Playbook designed to serve as guide for identifying, evaluating and testing IoT opportunities.
All companies who are beginning their IoT investigation, in the planning phase, or fine-tuning a specific development plan are candidates to create significant value through this program.
To learn more about the INEX Advisors Internet of Things Commercialization Program, visit http://inexadvisors.com/training-education/ or contact Pam Sefrino at 508-525-9700 or email firstname.lastname@example.org