Internet of Things Are Not For Business
Few organizations do have a clear plan on how to take advantage of the new market even though most IT companies are confident that they can get the maximum benefit from the smart devices that are available in the next three to five years. This survey was conducted and the result was formulated by Gartner. The survey that was conducted by around 500 IT companies and top business leaders that 40 per cent of the Internet of Things would benefit the business in the coming next three years while the rest 60 per cent believe that it will happen in the next five years.
But the truth is no one has ever thought of taking advantage of the market that is emerging and of having a concise and clear strategy. According to Nick Jones, Vice President of Gartner, IOT is an immature and many organizations have only started experimenting it. Only minority have found solutions that are productive to the environment. But due to the reducing networking cost and processing involved, very less economic inhibitors who add sense and communication to products that cost as less as ten dollars.
The actual challenge of IOT is making the product understanding and smart in opportunities for businesses that are enabled by better products and ecosystems that are new. Gartner concluded that some senior leaders do not have complete understanding of IOT and its potential and certain sectors have been singled out like banking, insurance, education and other areas where top executives do not know anything on the meaning of IOT.