75% of IoT Initiatives Fail, Says Cisco
by Rhucha Kulkarni on May 25, 2017
In the article, Kulkarni brings out:
"Cisco recently conducted a survey to understand the Internet of
Things (IoT) scenario, i.e., its hits and misses in an increasingly
IoT-crazy technology world. The results were eye-openers to the reasons
why over three-fourths of IoT projects were ending up as failures. A
mere 26% of the undertaken projects were taken to successful completion,
indicating that there is a great deal to be learnt and implemented in
our IoT journeys. "
That number is really anything but surprising to me IF you factor out the manufacturing industry. The reason I make this statement is that in manufacturing, IIoT or Industrial Internet of Things, is really about using sensors to augment what is already being monitored. In other words, the framework is already in place and MTConnect is the protocol of choice for discrete manufacturing and IIoT is really the addition of sensors.
Since IIoT is augmented to MTConnect, the ratio for success, IMHO, is in the 95% and up range.
The survey was quite extensive as stated below:
"The survey collected the responses of about 1,845 IT bodies and the results were expressed in Cisco’s IoT World Forum in London, where Cisco chief executive Chuck Robbins talked about the problems that plague IoT forays by corporations. "
The author brings out basic blocking and tackling projects of the failure - lack of commitment. I don't care what project is, if you do not have a champion, forget folks! Below they bring out the Holy Grail issue that I highlight.
"The first problem that he cited lay in the lack of buy-in in the IoT concept, leading to a lack of commitment to take projects to completion. In fact, a whopping 60% of the IoT projects are seen to stall at the proof of concept stage itself. The result is that enterprises are not willing to invest in the necessary IoT infrastructure, but merely want faster results by investing in a readymade integrated architecture that works “as is.” This is why most enterprises end up looking to buy IoT as a service, rather than taking the hard way and building a strong IoT architectural foundation. "
"Ready made integrated architecture that works "as is" " is what EVERYONE wants, but is really, really hard to do and why graduates in Computer Science quickly get to 6 figures of salary. If it was easy, any damn fool could do it. It ain't easy. This is why I have always believed that MTConnect will be the tail that wags the IIoT dog for manufacturing.
That number is really anything but surprising to me IF you factor out the manufacturing industry. The reason I make this statement is that in manufacturing, IIoT or Industrial Internet of Things, is really about using sensors to augment what is already being monitored. In other words, the framework is already in place and MTConnect is the protocol of choice for discrete manufacturing and IIoT is really the addition of sensors.
Since IIoT is augmented to MTConnect, the ratio for success, IMHO, is in the 95% and up range.
The survey was quite extensive as stated below:
"The survey collected the responses of about 1,845 IT bodies and the results were expressed in Cisco’s IoT World Forum in London, where Cisco chief executive Chuck Robbins talked about the problems that plague IoT forays by corporations. "
The author brings out basic blocking and tackling projects of the failure - lack of commitment. I don't care what project is, if you do not have a champion, forget folks! Below they bring out the Holy Grail issue that I highlight.
"The first problem that he cited lay in the lack of buy-in in the IoT concept, leading to a lack of commitment to take projects to completion. In fact, a whopping 60% of the IoT projects are seen to stall at the proof of concept stage itself. The result is that enterprises are not willing to invest in the necessary IoT infrastructure, but merely want faster results by investing in a readymade integrated architecture that works “as is.” This is why most enterprises end up looking to buy IoT as a service, rather than taking the hard way and building a strong IoT architectural foundation. "
"Ready made integrated architecture that works "as is" " is what EVERYONE wants, but is really, really hard to do and why graduates in Computer Science quickly get to 6 figures of salary. If it was easy, any damn fool could do it. It ain't easy. This is why I have always believed that MTConnect will be the tail that wags the IIoT dog for manufacturing.
