Bain & Company's biennial IoT survey shows companies increasingly struggle with IoT implementation. What do we need to achieve successful long-term IoT adoption?
Bain & Company’s biennial IoT survey polls industry executives on their top IoT adoption concerns . The most recent survey shows that more and more companies are facing challenges in their IoT implementation. This blog article shows how Prescient Designer helps to overcome these barriers and enable enterprises to achieve successful long-term IoT adoption.
Growing concerns over technical expertise
In the most recent survey conducted by Bain & Company, enterprises appeared to shift their concerns from ROI to technical expertise in IoT adoption and implementation. There is a significant decrease in concerns over ROI compared to that of 2016 while technical expertise have become the top barrier for enterprises looking for IoT integration.
The decrease in concerns over ROI is likely the result of more companies seeing the results of their implementation, along with the growing recognition of the benefits generated by IoT adoption. Companies are now more concerned about issues related to the implementation process: technical expertise, data portability, vendor risks, and transition risks. As companies begin implementing IoT that they start facing the real challenges of IoT adoption.
Currently, less than 10% of companies surveyed were able to crossover from proof-of-concept into extensive implementation. IoT adoption remains slow and difficult for most.
Prescient Designer overcomes IoT adoption barriers
Overcoming the barriers in IoT adoption is crucial if enterprises aim to be prepared for future developments in IoT. Acknowledging the challenge of technical expertise, Prescient Designer empowers enterprises to design, integrate, orchestrate and manage complete IoT solutions without IoT technological expertise. This makes Prescient Designer the most advanced IoT design integration software on the market. Prescient Designer assists enterprises in overcoming each of the IoT adoption barriers with the following:
Security is the #1 concern in IoT adoption. Edge devices are much more susceptible to security risks as compared to cloud services. Prescient Designer provides an end-to-end security solution that is designed from the ground up. It includes a distributed programming architecture that removes implementation risks associated with edge devices, a patent-pending content-based security technology that monitors edge device operations in real time, and system hardening technology that makes edge devices impenetrable.
For most enterprises, the benefit of IoT is not well understood in the early phases of adoption, but it becomes more clear as the adoption proceeds . Most successful IoT adoptions go through an iterative process. Prescient Designer enables customers to experiment quickly and continuously, which is necessary to achieving the best adoption results in the long run.
IT/OT integration is a difficult process due to disparate technologies and skill sets required on the IT (information technology) and OT (operational technology) sides. Prescient Designer bridges the two and makes integrating IT and OT operations seamless. In addition, Prescient Designer uses function block programming, which is familiar to both IT and OT engineers.
Interoperability is a major pain between different equipment manufacturers. Prescient Designer enables easy data translation at the edge or in the cloud so that different equipment can talk to each other through common data translation layers.
Most IT, OT, and system integration engineers do not have the IoT technology expertise to implement IoT solutions. Prescient Designer makes this possible by virtualizing the IoT technology stack behind a low-code distributed programming framework, thereby eliminating technology complexity and preserving application design flexibility.
Most IoT solutions on the market lock customers in. Prescient Designer is built on IBM’s Node-Red, which is open-source with a strong ecosystem. Prescient Designer is 100% compatible with Node-Red and its 4000+ community-contributed solutions, and its edge applications run directly in Node-Red without need for proprietary software.
Many industries have regulatory requirements on data and security. Prescient Designer makes it easy to implement regulatory requirements. Furthermore, its edge computing capability can protect sensitive data at the source, solving many data security issues in sensitive industries.
Data portability is a major headache due to limited customization capability and lack of standardization in turn-key IoT solutions. Prescient Designer adheres to the popular Node.js framework and the JSON data structure. In addition, its flexible programming capability can solve any data portability issue.
Prescient Designer’s edge computing capability enables computing at the edge, thereby reducing the amount of data or equivalently, the network bandwidth requirement, for customers. For example, Prescient Designer’s machine vision solutions perform machine-learning based inference directly at the edge, thereby eliminating the need to stream video to the cloud.
Unlike solutions provided by most IoT vendors, Prescient Designer runs edge applications in IBM’s Node-Red, which is widely used and battle-tested. This reduces customers’ risks in using unproven software, and it provides a migration path if customers decide to leave Prescient Designer.
IoT adoption should proceed in small and quick steps. Prescient Designer enables customers to experiment quickly and adapt solutions as needed based on business needs and technology changes. This provides significant reduction in transition and investment risks.
 “Beyond Proofs of Concept: Scaling the Industrial IoT”, Bain & Company, https://www.bain.com/insights/beyond-proofs-of-concept-scaling-the-industrial-iot/
 “The IoT Business Index 2020: a Step Change in Adoption”, The Economist Intelligence Unit, https://learn.arm.com/rs/714-XIJ-402/images/economist-iot-business-index-2020-arm.pdf