by Angela Guess
According to a new press release, “‘IoT WoRKSTM by HCL’, the Internet of Things (IoT) business unit of HCL Technologies, announces the launch of IoT Maturity framework titled, “IoT Maturity: Bridging the Gap Between Devices and Value”, as seen in MIT Sloan Management Review. This Executive Scholar Exchange (ESE) provides a roadmap for large enterprises for IoT–led business transformation and how to exponentially increase the value derived from IoT investments. Among the key findings of this framework are the three stages of enterprise–IoT maturity: Maturity level 1: Process efficiency using IoT–enabled data; Maturity Level 2: Building new revenue streams; Maturity Level 3: Business transformation leveraging IoT data–led insights.”
The release goes on, “The Executive Scholar Exchange (ESE) describes how moving across different levels of maturity requires an IoT platform at the core. To that end, defining the right IoT platform strategy remains the key. The IoT platform can integrate with enterprise IT & OT systems and centralize data from all instrumented assets, making data visible to key stakeholders so they can make better, faster decisions. In addition, it provides the flexibility to modify the services needs over a period of time as the business needs change and evolve.”
Stephanie L. Woerner, Research Scientist at MIT Sloan Center for Information Systems Research, commented, “Realizing value through the Internet of Things may begin with simple goals, but it can catapult a business towards new horizons. Full IoT maturity depends on cross–organizational commitment to identify new revenue sources, spurring innovation, investing in supporting technology and nurturing relevant skills… The level of commitment to completing the journey depends on organization’s willingness to translate threats into opportunity by finding new sources of revenue in the face of changing industry trends, turning to innovation, investing in partnerships or acquisitions in case there is lack of capabilities in any specific area and finally ensuring organizational readiness.”
Read more at Business Wire.
Photo credit: HCL