MANAGING in the

NEW WORLD

Internet of Things

There is a lot of hype surrounding the use of the Internet of Things (IOT). Now is the time to separate the wheat from the chaff. Companies are now competing in a world lacking the usual sectoral boundaries. Bots are even intruding in to homes. To ensure that there is a successful IOT marketplace, companies need to first make sure that the data warehousing being done, is clean. Future production systems will also be shaped by this pattern. One of the sectors already feeling the heat, is the automotive. Self- driving cars are already creating doubts in the minds of many of the legacy players. But to ensure, that companies are able to leverage in to this data and IOT, cyber security needs to be really solid. This is the crux behind enterprise IOT.

Source:https://www.mckinsey.com/featured-insights/internet-of-things/our-insights/the-internet-of-things-how-to-capture-the-value-of-iot

Uploaded Date:26 June 2019

Some techniques have been deduced, which when followed to the hilt, can prove to be advantageous to any company working with the Internet of Things (IOT). While several companies are now applying IOT to their work, business intelligence shared by McKinsey points out to these three techniques most effective at enhancing the impact. First of all, companies must take stock of what they already have. They need use IOT to sell or make whatever the company is doing in the first place. The learning curve can be aced using multiple use cases. Any opportunities for changes in the business processes need to be leveraged when they appear. This may be a hard job, as the way the company works, needs then a slight modification.

Source:https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/what-it-takes-to-get-an-edge-in-the-internet-of-things

Uploaded Date:07 June 2019

The McKinsey Global Institute has gone through a study to highlight a list of startups in the field of the Internet of Things (IoT) which would be primed to succeed this year. One of them is Dragos. It works in the field of industrial cyber security. Another is Fog Horn, which provides real time machine learning and business analytics support to IoT application areas in industry and commerce. The interestingly- named IoTium helps in creating secure connections between cloud- based applications, legacy onsite systems and NaaS (Network as a Security). Crate.io helps in large scale data warehousing using its SQL database on machine inputs. The others identified here include Armis Security, Drayson Technologies, Element Analytics, GEM, Influx Data, Karamba Security, Machine Metrics, Magic Cube, Myriota, Particle, Samsara, SCADAfence, Sequoia DB, Sight Machine, SWIM.AI, Tulip, Tuya Smart, Splice Machine, VDOO, Uptake and Xage Security.

Source:https://www.forbes.com/sites/louiscolumbus/2019/02/03/top-25-iot-startups-to-watch-in-2019/#5e200a273cc0

Uploaded Date:13 February 2019

The Internet of Things (IoT) is of course one of the hottest areas of business that several companies are grappling with right now. But before any company plunges headlong into the technology, a few trends need to be understood. First of all, companies need to start off with products or systems they already either sell or produce. Business research conducted by McKinsey across eleven industries in China, Canada, USA and Germany reveals that for most top executives, optimizing the existing service operations is of key concern. This is in stark contrast to a strategy applied by many newcomers of trying to cater purely to the emerging market needs. The entire learning curve has to be aced using multiple use cases. The business processes may need some sort of tweaking to be able to leverage the available opportunities.

Source:https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/what-it-takes-to-get-an-edge-in-the-internet-of-things

Uploaded Date:07 January 2019

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