We share some invaluable insights on just how IoT is vastly impacting many businesses across varying sectors.
Some key statistics on the use of IoT:
- 59% of enterprises consider data science and machine learning critical to their business in 2019.
- 48% of enterprises say Cloud BI is either critical or very important to their operations, which is an all-time high for the survey.
- Marketing & Sales and R&D place the highest levels of importance on IoT today.
- Manufacturing, Financial Services/Insurance, and Technology enterprises are the most likely to describe IoT technologies as critical to their business.
These and many other fascinating insights are from Dresner Advisory Associates’ 2019 Edition of IoT Intelligence® Market Study now in its 5th year of publication. Internet of Things is defined as the network of physical objects, or “things” embedded with electronics, software, sensors, and connectivity to enable objects to collect and exchange data. The study reviews organizations’ interest in and demand for applying business intelligence (BI) to IoT data, systems, and processes. R&D and Marketing & Sales departments assign the highest levels of IoT importance, as do larger manufacturing, financial services/insurance, and technology organizations.
A few key insights from the study on IoT include the following:
- Marketing & Sales and R&D place the highest levels of importance on IoT today, significantly above IT, executive management, and finance.
- Manufacturing companies consider these technologies the most critical to their operations than any other industry included in the study.
- Internet of Things’ importance increases as an enterprises’ size increases, reflecting the higher number of digital initiatives, new products, services, and business models under development large-scale organizations can take on.
- Enterprises are prioritizing investments in data supply chains and Internet of Things analytics this year.
- Those championing Internet of Things adoption or IoT Advocates have more significant expertise and insight into how best to apply big data, data mining and IT analytics to enterprise challenges than the overall sample of respondents.
- Those championing Business Intelligence (BI) adoption, or BI Drivers, are most often from Operations, Sales, Finance, and Executive Management.
- 59% of enterprises consider data science and machine learning critical to their business in 2019.
The Fastcomm Advantage
Fastcomm’s business is to build technology platforms that empower its clients to digitally transform their businesses and therefore to understand and address the growing needs of their customers. Our mission is to build long-term technology partnerships that help transform companies, allowing them to concentrate on their core business.
We have a proven track record of understanding disruptive technologies and the effect that they have on businesses. We have built platforms in the IOT and OTT technology domains that allow us to connect people, places and things successfully.
The Fastcomm group of companies has been providing solutions to its partners, since 2002. We have offices in the USA, Europe, and South Africa, allowing us to produce innovative solutions, utilizing know-how and skills acquired worldwide.
Our skilled engineering teams have, over many years, created platforms and building blocks that allow for rapid development and deployment of solutions.
