The sheer number of vendors, technologies and protocols, that each of the smart devices currently produced use, make it challenging for them to communicate with each other. The lack of consensus on how to use standards, protocols to allow smart objects to connect and collaborate with each other is a challenging proposition as it will be tough to integrate applications and devices that work using different network technologies and on different networks. Further, organizations also need to find ways to ensure that smart devices can interact and work with multiple services. Other hurdles include a nascent ecosystem of IoT applications, and ensuring that strong security is in place for the devices to communicate, collaborate and protect the data (device and personal) collected by them.
Routing, capturing, analyzing the huge volumes of data generated by the IoT ecosystem and using the insights in timely and relevant ways is a huge challenge with current infrastructure. The sheer magnitude of the data collected will require sophisticated algorithms that can sift through the data, analyze it and deliver value out of it to organizations. As more and more devices enter the market, more and more silos will be created and make it a complex network of connections between silos. The lack of universal standards and protocols will make it even tougher for organizations to eliminate silos. Even in the case of centralized data repositories organizations will require strong security mechanisms to address security and privacy concerns.
Deriving value from IoT depends on the ability of organizations to collect, manage and mine data. And as more and more devices generate data, securing it from unauthorized use and attacks will be a key concern. Simi...
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.... On top of this, these analysts will need to have deep-domain knowledge of the specific industries they operate in to ensure they use the right data to generate useful insights.
The complexity of IoT will necessitate organizations to depend on external specialist organizations to ensure that intelligence flowing from multiple sources is captured and acted upon in timely ways. Internal competencies will need to be supplemented with capabilities that specialists can bring. Specialist partners can offer strong industry and domain knowledge, technical expertise, customer servicing capabilities and help desk expertise.
As the IoT ecosystem comprises of smart devices and connections between them, organizations should build and take advantage of network centric operations. In this setup, information is shared with users who are provided need-based access to information