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article imageInternet of Things predictions for 2018, ready for business

By Tim Sandle     Nov 26, 2017 in Business
The market data company Forrester Research has put together a list of Internet of Things (IoT) predictions for 2018. The new findings show the increasing impact that connected technology is having upon businesses.
The Forrester Research review includes IoT connected technology; big data analytics; data management; and data monitoring, together with data security. The essential message is that the IoT will shift from a concept that is more experimental to something bigger and more applicable to businesses.
Forrester Research is a U.S. market research company that specializes in providing advice on existing and potential impact of technology. The company operates out of five research centers in the US: Cambridge, Massachusetts; New York, New York; San Francisco, California; Washington, D.C.; and Dallas, Texas. The company’s new report is titled “Predictions 2018: IoT Moves From Experimentation To Business Scale.”
Smart design
The key message is for businesses to prepare for further disruption. For example, Forrester predicts that IoT platform offerings will start to specialize in “design” and “operate” scenarios. With "design" use, Smart2Zero interprets, this refers to case scenarios that involve creating connected offerings or with environments to engage with customers. In contrast, "operate" use cases are set to enhance processes, creating new efficiencies or enhancing customer experiences.
As to what this means, there is a strong possibility that enterprises will ramp up their efforts to pilot and roll out voice-based services to consumers. There will also be greater use of Infrastructure as a Service (IaaS). This is hardware is provided by an external provider and managed on behalf of the business.
There will also be a shift away from platforms that are general, like the Microsoft Azure IoT Suite or the General Electric Predix, and towards smaller companies offering specialized IoT services.
Business-to-business opportunities
With business-to-business, there will also be, Forrester Research predicts, more exchange of data and insights between firms. This will lead to opportunities for companies commercializing data analysis.
Commenting on the report, Christopher Voce, who is the Vice President, Research Director at Forrester, stated: “IoT is re-shaping how businesses are organized, including the roles and responsibilities of individuals — and how they work together.”
The business leader adds: “Capturing the promise of any of these scenarios requires organizations to collaborate in new ways."
The report does, however, highlight risks. Here the dynamic is towards implementing IoT solutions in businesses at the expense of addressing security matters. This could lead to an increase of IoT related cyber-attacks next year and beyond.
For more on this subject, see Digital Journal's article "How the Internet of Things is disrupting insurance."
More about internet of things, Internet, Connected, Business, smart city
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