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As the number of connected devices swells beyond an expected 30 billion by 2020, linking them through IoT will help enterprises across industries improve operations. Based on our observations, enterprises that adopt IoT have decreased supply chain costs by more than 20%, increased productivity by 10% to 20% and reduced design-to-market times by 20% to 50%.
IoT also expands capabilities. Logistics providers can track the exact locations and conditions of goods in transit. Manufacturers can monitor vibration levels of factory floor equipment to address issues before they arise. Drillers can remotely monitor oil well pressure to maximize production and prevent costly failures.
As the number of devices explodes, so do the opportunities to use IoT to reshape industries and societies. Yet, many organizations experience their IoT initiatives as a difficult journey into the unknown. This white paper outlines challenges as well as planning and strategy tips linked to the five different IoT requirements you need to get a grip on: edge computing/analytics, data ingestion and stream processing, device management, cold path and advanced analytics, and enterprise integration with business systems.