Cisco released the findings at IoT World Forum (IoTWF), an event where Cisco convenes the industry’s best, brightest and most passionate leaders with the goal of accelerating IoT. We surveyed 1,845 IT and business decision-makers in the United States, UK, and India across a range of industries — manufacturing, local government, retail/hospitality/sports, energy (utilities/oil & gas/mining), transportation, and health care. All respondents worked for organizations that are implementing and/or have completed IoT initiatives. All were involved in the overall strategy or direction of at least one of their organization’s IoT initiatives. The goal was to gain insight into both the successes as well as the challenges that are impacting progress.
- Collaboration between IT and the business side was the #1 factor, cited by 54 percent.
- A technology-focused culture, stemming from top-down leadership and executive sponsorship, was called key by 49 percent.
- IoT expertise, whether internal or through external partnership, was selected by 48 percent.
In addition, organizations with the most successful IoT initiatives leveraged ecosystem partnerships most widely. They used partners at every phase, from strategic planning to data analytics after rollout.
Despite the strong agreement on the importance of collaboration among IT and business decision-makers, some interesting differences emerged:
- Business decision-makers place greatest emphasis on strategy, business cases, processes, and milestones.
- IT decision-makers are more likely to think of IoT initiatives as successful. While 35 percent of IT decision-makers called their IoT initiatives a complete success, only 15 percent of business decision-makers did.
“We are seeing new IoT innovations almost every day,” said Inbar Lasser-Raab, VP of Cisco Enterprise Solutions Marketing. “We are connecting things that we never thought would be connected, creating incredible new value to industries. But where we see most of the opportunity, is where we partner with other vendors and create solutions that are not only connected but also share data. That shared data is the basis of a network of industries – sharing of insights to make tremendous gains for business and society, because no one company can solve this alone.”