Creating an IoT ecosystem is part of FAVORIOT‘s initiatives to strengthen the IoT industry in Malaysia. Matching the supply and demand of IoT requirements is not an easy task. Many organizations wanted to embark on IoT but simply don’t know what’s the first step to take and what IoT solutions to build.

We are very fortunate to have a huge number of visitors in the month of July 2017. Discussions involved from training, partnerships, exploring business opportunities or simply building relationships. Check out our latest video below.

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

#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]