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4 Misconceptions About IoT & The Facts

Don't Think Internet of Things Is For Your Business? Think Again.

IoT is no longer a hyped buzzword in 2020, when the outcomes are proving especially fruitful during this global pandemic. From improving liquidity through IoT-enabled inventory management, to strategic large-scale cybersecurity and connectivity rollouts, organisations can make an advantageous comeback during the COVID crisis.

IoT isn’t a shiny new system you lay on top of your current processes and expect everything to magically fall into place, it needs to be led and continually backed by the whole organisation. This isn’t to say you should dive right in, but you risk falling behind if you don’t adopt soon. Yes, to some this might be worrying because their business is falling behind. To others, this is exciting because they are the early adopters, or others might still be raising their eyebrows at more digital transformation nonsense.

In today’s blog, we’re dispelling the myths that we’ve read and heard about IoT, and how with the right information and tools, you too can see how IoT can be a significant economic driver in your business, big or small.

Myths about IoT

#1 IoT Isn’t Standardised and Is Therefore Not Secure

This isn’t entirely true now, because associations and government bodies are rolling out their versions of IoT standards. Back in June of this year, the ETSI technical committee announced a new standard for Internet of Things security. The IEEE Standards Association has also provided an outline for IoT frameworks, IoT harmonisation and security, and sensor performance and quality. Although there are multiple standards and umbrella organisations for IoT security and safety, we are moving in the right direction to protect organisational data.

As knowledge in IoT technology expands, so too does the security as any faults are ironed out. Companies are also now more aware than ever of the various security risks faced, be they through Internet-connected devices or to something as simple as employee passwords. Ensuring your organisation has a clear security plan in place that is adhered to and regularly updated will help minimise cloud threats.

#2 IoT Replaces Talent and The Workforce

This is a common myth among both organisational leaders and workers alike. Fortunately for all involved, this is certainly not the case. IoT, some of you may be surprised to hear, actually creates jobs and can assist those in their current roles. One of the struggles companies currently have when devising IoT strategies is actually finding the appropriate talent to implement new IoT systems, because the technology is advancing quicker than those who can relay it.

IoT is not only a job generator, but it also caters to those who are working in repetitive and straining tasks. From physical digital twins to cobotics, IoT systems enable current workers to carry out their job in a safer manner, or makes room for these workers to be doing more productive work in a secure environments. Companies like Coursera offer 6-month courses that allow people to complete them and then continue to university. Those who have been made unemployed should be funded to retrain and develop their skills. After all, their is a shortage of workers who can massively impact IoT-undertaking companies.

#3 The Whole Company Will Undergo a Digital Transformation

There is an unfortunate belief out there that in order to implement and IoT platform, your organisation must completely change their current systems and operations. This is thankfully not the case, and if it were true then no company would have parlayed with IoT in the first place!

Current and old legacy systems, or ‘brownfield’ sites can be the sole focus of sensors and IoT implementation, if the business use case requires it. The whole point of IoT is to assess the current organisational value, and how that can be developed into something more insightful to drive business decisions. It is not about a complete overhaul, although with time and deep insights, this may be the case and for the better. But again, this takes insight analysis and a whole lot of data processing.

As we’ve said before, IoT systems can be rolled out in small phases across the organisation. Meaning the whole company does not need to undergo adaptations, although they should still be aware of the undertaking. Rather than looking at IoT as one daunting undertaking, it should start from a small but key business decision to see the benefits on a smaller scale. Once this is achieved, it should then be rolled out across the organisation.

#4 IoT is Only For Large Organisations

IoT can benefit any type of company, once they take the right steps to develop an IoT system that suits their business use case and answers the questions that drive key decisions. There are multiple instances where IoT enhances small and medium business value and opportunities. For example, small bus companies who can track tire pressure using sensors, thus preventing unnecessary tyre checks before every journey. Businesses can create a greener office space by developing smart lighting and thermostat systems, depending on the temperature and light in the offices. Studies have shown that these implementations, when carefully thought out and planned, often increase cost savings in the long run and the benefits far outweigh the initial IoT costs.

The next time someone throws one of these myths at you, be sure to question their stance and see what what they have to say about the reality of IoT. I’m sure you’ll find that they will actually be pleasantly surprised by the multiple benefits to a carefully considered IoT system. If they’re still hesitant, why not tell them to get in touch with the Davra team to chat about how IoT could be just the thing their company needs?!