JUNE 2019CIOAPPLICATIONS.COM 19side there is a multitude of IoT standards being developed making it be difficult for a common standard to gain widespread acceptance.Success Factors for IoT.Identifying the right use case: Have an alignment with business to come up with IoT scenario which has a fairly well-understood process and has a quantifiable business case. Start small, but keep a platform-centric approach, select the platform which is secure, reliable and has the ability to scale to the higher volume of data and devices.Build a Cross-functional team which has the right mix from IT and Business. Also, ensure to get the right business sponsor, who is ready to innovate and embrace the change.Selection of right System Integrator (SI): Selection of the right system integrator is key for the the success of IoT Initiative, ensure that selected SI not only has the right technical skills around IoT Platform but should have strong domain knowledge around the industry you operate in.Keep the right data visualization tool in IOT project mix. Data visualization tools can help in creating actionable data, which can provide some key insights and relevant correlations. It also provides organizations, the capability to rapidly and effortlessly evaluate business and identify hidden patterns and trends in IoT data, which helps in influencing performance and enable data-driven decisions in the enterprise.Include Artificial Intelligence and Machine learning as a key part of IoT strategy, but with my experience, don't rush at them at the beginning of the project, the true value of Machine learning can be achieved after a critical mass of machine data is capturedConclusionThe manufacturing industry is undergoing rapid transformation to deal with the uncertainty surrounding trade, economic growth, regulations, and geopolitics loom. In today's world, manufacturers are endeavoring for better yields, efficient processes, and reduced costs. IoT can be that shiny technology which can aid them in meeting some of these objectives and pave them a path for what's coming to be known as `the fourth industrial revolution.' Internet of Things (IoT) will be the game changer of companies of the future. With potential, it has to ingest a variety of data, if harvested judiciously can create new business models, fueling growth. Such a paradigm shift it will bring, that business who harness it will survive, those who can't, won't
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