by Oliver Schabenberger
To prepare for IoT, companies need to take advantage of big data and advanced analytics, and adapt their culture, so they are ready for the transformation.
In the early 1990s, the general public made its earliest forays into using the Internet. At the time, no one could have imagined where the technology would lead. Social media, e-commerce, mobile apps, cloud computing, software as a service -- the list is endless. Entire classes of applications -- even industries -- were not even a gleam in their creators' eyes. Today these internet-based technologies have transformed the way we live and work.
Fast-forward more than 25 years. We are at a similar stage in the latest iteration of the internet -- the Internet of Things (IoT). Pundits of all stripes predict that the IoT will change everything. Connected cars. Better patient monitoring devices. Industrial machines that track their own maintenance requirements. Intelligent street lights. Everything will be connected.
As with the original internet, we have no idea where the IoT will take us. And before we see the full impact of the predicted and unforeseen advances, we will need to remove significant technical obstacles, notably security and lack of standards.
Still, despite the roadblocks, companies that get ahead of the IoT curve will undoubtedly benefit from a lasting competitive advantage as they forge new markets. So what can your company do today to prepare for the future of IoT? The following are the top three best practices: