Q1: How would you describe the current state of IoT?
A1: Broadly speaking, it is cutting its way through the briars of development. The implementation and expectation side are not aligned but is getting better. It will take some time to smooth the process and as a result larger companies are struggling to implement IoT.
Q2: Who is more successful than most in IoT right now?
A2: The organizations standing out are focused on solving a tight circle of problems. Cradlepoint is expanding well by staying focused on what they do best. Projects such as the Mercy Virtual hospital in St. Louis are changing healthcare. Connecting data feeds from all of their health facilities to a virtual center staffed by doctors and nurses is improving patient care and lowering costs.
Q3: What is the most common thing that you are asked from companies trying to participate in IoT.
A3: Enterprise companies trying to understand what they can do with IoT. They are very successful in their core businesses but are still developing the mindset around connecting things and how to integrate all the data. Enterprises are sorting out what is best in the short and long term and how to phase in data. From the vendor side, they are more concerned with how to improve channel and sales engagement. There is so much competition from many types of vendors that it is very difficult to differentiate in a way that is meaningful to the market. A core challenge is just bringing sales team up to snuff to communicate the potential of IoT in an effective manner.
Q4: What is the biggest mistake you have seen in the market lately?
A4: In speaking with companies large and small, they failed to grasp the power of data capture and analysis in their business. Sometimes people connect everything and expect magic to happen without a detailed approach to use the new data in a way that makes sense. There remains too much emphasis on connecting things but failing to understand the full power of the data in all aspects of the company’s operations.
Q5: What excites you most about IoT today?
A5: For me, the excitement comes from the fact that the technologies available today provide an almost infinite amount of creativity to do almost anything. IoT is starting with phases of cost improvement but then will mature to phases of great creativity.