ABSTRACT: Organizations attempting to build smart connected products across divisions, product portfolios, and markets are being faced with a stark reality: creating IoT projects are hard and building a long-term organizational competency around doing IoT projects with excellence is even harder. Based on real-world experience, this article presents five key behaviors that successful organizations embrace when starting an IoT journey. Finally, this article concludes by saying that smart connected products will redefine entire markets and the very nature of competition over the coming decade, and that the key to success tomorrow will be directly proportional to an organization’s ability to transform themselves into a digital enterprise today.
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.