The Internet of Things (IoT), once just another captivating technology trend among many, is gaining deep traction in industry and government. Today, we are on the cusp of an IoT-driven technological revolution, affecting most if not all industries and mobilizing strategic thinking at every level, from the design engineer to the C-suite. With billions of connected sensors designed into products around the world, the IoT gives companies the ability to collect, process and analyze vast — and potentially invaluable — data sets. Properly distilled, this data can reveal real, actionable intelligence. Yet for many companies, the path forward remains unclear.
The IoT’s potential is tantalizing, but the reality of harnessing its power can be daunting, and is always logistically challenging. Nevertheless, a 2017 McKinsey survey found that 92 percent of high-level executives believe the IoT will generate a positive impact over the next three years, with 62 percent stating this impact will be very high or transformative.