‘IoT WoRKSTM by HCL’, the Internet of Things (IoT) business unit of HCL Technologies, announces the launch of IoT Maturity framework titled, “IoT Maturity: Bridging the Gap Between Devices and Value”, as seen in MIT Sloan Management Review. This Executive Scholar Exchange (ESE) provides a roadmap for large enterprises for IoT–led business transformation and how to exponentially increase the value derived from IoT investments. Among the key findings of this framework are the three stages of enterprise–IoT maturity:
· Maturity level 1: Process efficiency using IoT–enabled data
· Maturity Level 2: Building new revenue streams
· Maturity Level 3: Business transformation leveraging IoT data–led insights
The Executive Scholar Exchange (ESE) describes how moving across different levels of maturity requires an IoT platform at the core. To that end, defining the right IoT platform strategy remains the key. The IoT platform can integrate with enterprise IT & OT systems and centralize data from all instrumented assets, making data visible to key stakeholders so they can make better, faster decisions. In addition, it provides the flexibility to modify the services needs over a period of time as the business needs change and evolve.
“Many companies have made inroads into use–case based IoT projects, but very few have embarked on transformative programs. It is only by doing so that these firms will reach the intended IoT goals of efficiency, profitable business models and gaining a competitive edge,” said Sukamal Banerjee, CVP& Global Head – IoT WoRKSTM, HCL Technologies. “Defining the IoT platform strategy is the inflection point and there are four key components while choosing the right IoT platform – security, data analytics, scalability and agility.”
This Executive Scholar Exchange carries insights from a recently concluded, first–of–its–kind Global IoT Survey 2017, commissioned by HCL Technologies, that captures the challenges and journey of early enterprise–wide adopters of IoT. The ESE articulates how enterprises can link IoT data with mobile apps and real–time analytics to drive faster decision–making and boost revenues.