The Internet of Things can do great things for a business. When implemented properly, it can save you money, boost productivity, and make processes more efficient. However, there are also concerns that need to be addressed.
High Investment Costs
High investment costs are a concern because you must weigh the initial investment with the lifetime of savings that you will, ultimately, achieve. The implementation costs will vary based on the sensors that you need as well as the infrastructure that needs to be built.
The initial investment will vary considerably for every company based on size and what is already in place. For example, if you already have a substantial tech infrastructure, you likely won’t have to rebuild too dramatically. Bringing in a professional will give you a better understanding of the expense you are likely to incur.
The tech infrastructure to prepare you for the IoT needs to be capable of connecting to the internet in all aspects. Much of the equipment in server rooms isn’t inherently ready to connect to the Internet of Things. As a result, you may have to spend a substantial amount of money replacing or retrofitting your network so that you can accommodate the IoT technology.
Additionally, you will need a cloud-based network that is scalable, high-speed internet, and all the devices that will connect to provide you with the benefits.
Security should be a top concern as you don’t want to expose your business to problems. You’ll have more employees using devices. Further, you may not have the layer of encryption and authentication that is needed to truly protect yourself.
There is a big security risk involved when you decide to focus on IoT communication. This means that you need to implement the right devices. It’s also critical that you train your employees on security and encryption so that they understand how the IoT running in the background is going to change the way they do things daily.
It’s important that the IoT is scaled properly for your business. In scaling an IoT footprint, you must look at what a network can handle in terms of the number of devices. Further, you must look at whether you’re using pre-existing devices, buying highly specialized ones, or exploring custom solutions.
Scalability must be translated to the company. Ultimately, you will want to add more departments, which can mean a larger number of devices as well as different types of sensors and software in order to streamline more processes.
It’s important to have standards in place. Unfortunately, the standards being used across IoT are still immature in many ways. Many analysts are identifying that the protocols are not enough because too many companies fail to understand the technology to the fullest. When waiting for a standard or protocol to come forward, it causes a delay in investments. There are plenty of standards in development, but they’re not being released yet because the technology is still new.
The Open Interconnect Consortium is pushing to create a united protocol. This, combined with the draft standard published by the Institute of Electrical and Electronics Engineers, can ensure that a universal language is created for IoT architecture. However, the standards aren’t in full swing yet, causing some companies unease in terms of deciding whether they want to invest yet or not.
A lot of different devices and services need to be procured in order to implement IoT. The problem is that it doesn’t have the IoT label, causing people to wonder whether it will streamline their processes and ensure that the pieces fit together.
When procuring networks, storage devices, and instrumentation, it requires a consultant to ensure that the right items are obtained, and from the right manufacturers.
The Internet of Things can do great things for a business. However, it’s not a decision to enter lightly. When you are exploring IoT implementation, it’s critical to explore the concerns and how they can be overcome.