Posts tagged "Collaborates"

FAVORIOT Visitors – June 2017

July 21st, 2017 Posted by BLOG, PARTNER 0 thoughts on “FAVORIOT Visitors – June 2017”

Thanks to our visitors. We will keep on exploring areas of opportunities, leveraging our strengths and build relationships.

How Do I Start My IoT Project Without High Investment?

July 5th, 2017 Posted by HOW-TO, NEWS, TIPS 0 thoughts on “How Do I Start My IoT Project Without High Investment?”

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Start Your IoT Journey

#AskIoTWorld Question #4:

How do I start my IoT Project?

Response:

Simple answer – it depends on where do you stand? Assuming that you have the necessary knowledge and skills to develop an IoT project, take the following steps:

  1. Go out there and find a business case. Good market research report can give an indication but the market can be different in different countries. Thus, you need to be out there and find a real business case. Talk to the industry, talk to the customers and listen to their pain points.
  2. The low hanging fruit is to replace manual labor with remote monitoring. Costs can be greatly reduced. No more traveling costs and time-consuming data gathering. By doing this, you are also benchmarking their operations.
  3. The best part of benchmarking is that you can now introduce more sensors, actuators, analytics to gain better insights and thus ROI can be easily seen and predict.

This is just the beginning of your IoT journey. Take a simple step forward, understand their business case, learn, change if it doesn’t work, expand if it begins to show the ROI.

You can DOWNLOAD the eBook – HERE.

[Note: You can #AskIoTWorld with any IoT-related questions and we will try to answer in this Blog]

How to Embark on IoT Business

July 4th, 2017 Posted by BLOG, HOW-TO, TIPS 0 thoughts on “How to Embark on IoT Business”

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#askiotworld #3:

I am very interested in IoT and would like to embark in this business. How do I start?

Response:

Everyone is excited about IoT, its potential and the promise of billions of connected devices including trillions of dollars in the business. But many are confused how to start their IoT venture.

Everyone is excited about IoT, its potential and the promise of billions of connected devices including trillions of dollars in the business. But many are confused how to start their IoT venture.

Here are my suggestions:

  1. Start by finding the right vertical, market segmentation and customers that have the right mindset to change and money to invest in their digital transformation journey i.e. customers that are WILLING and ABLE to spend money on IoT.
  2. Find their business case and pain points to solve
  3. Check your strength to deliver the solution based on the following IoT value chain. Note that there is no single company can deliver an end-to-end solution. Even big companies require smaller companies to support their delivery ecosystem.

Select one (or more) of the value chain and be very good in delivering that “chain”:

  1. End-device components
  2. End devices and sensors
  3. Embedded operating systems
  4. IT, network and OSS infrastructure
  5. Security
  6. IoT Middleware
  7. Cloud infrastructure
  8. Analytics applications
  9. Visualization applications
  10. Management and applications enablement software
  11. Service providers
  12. Vertical products and solutions
  13. System integrators

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