Every organization is at a different stage of their IoT journey, and many firms get caught up in the hype of the futuristic things that IoT can potentially deliver. But the question remains: how can organizations truly harness the IT ecosystem to derive business value from IoT today?
If organizations are to derive concrete value from IoT, they need to move away from betting on futuristic and hypothetical solutions and focus on pragmatic use cases that can produce immediate results. Their focus should initially be on analyzing specific challenges, after which they can concentrate on designing solutions that overcome those problems. By focusing on a problem, rather than a use case, companies can create far greater opportunities for their businesses, moving beyond their traditional verticals and embracing new revenue streams.