ABSTRACT: Analysts are predicting big outcomes for the macroeconomic Internet of Things (IoT) movement. The reality is that many organizations are facing internal dissonance in areas like: what the IoT is, what the strategy should be, and what things need to happen to execute on that strategy. How organizations respond to these challenges will define their competitive success for the next decade. This article presents the concept of IoT retrofits: a common-sense strategy to integrate in-field machine data into the enterprise in a way that reduces near-term risk, produces early success, and enables valuable insights that can be used to inform a long-term strategy.
Mark Benson is the Chief Technology Officer at Exosite, an Internet of Things (IoT) platform company based in Minneapolis, MN. Mark is a regular speaker and writer on the intersection of technology, business, and society as it relates to product development, technology leadership, strategic planning and execution, intellectual property portfolio management, software architecture, information security, competitive positioning, and organizational behavior.