Why do I need IoT?

Sometimes in the middle of technology trend whirlpools and the associated hype cycles it makes sense to ask yourself the fundamental question – why? 

Sakichi Toyoda developed the “5 Whys” for Toyota Motor Corporation to uncover a real need (and how) to address a problem. The premise is to ask why 5 times to get to the root cause. Asking why clarifies the reason for everyone involved. For an IoT project to succeed everyone on the team needs to have their “why” explained.

But rather than just go with 5, we’re going to double down and review the 10 “whys” for incorporating the internet of things in your business.

 Starting today, I’ll address the “why” in a series of posts listed below. I’d love to hear your feedback on our approach and I’m always interested in talking to others about their IoT process.

• Because IoT exists
• Competitors are leveraging IoT
• Differential advantage – competitors are not doing it
• Industrial IoT programs offer potential cost reductions
• Expense savings could be substantial
• Growing my business is vital
• Improving the bottom line
• Increased data visibility into how my product is used
• Understand my business
• Cost impact is manageable

So, let’s start with ‘Because IoT exists‘

Most often our journey to process reconstruction begins with a new technology that allows us to enhance our current offerings, programs, reporting or process controls. Or “because X exists”. SPC tools, programming languages, SaaS and ERP systems all introduced new levels of process control and information delivery. With IoT we now have the ability to connect to virtually any machine we want to. So sometimes “because it exists” is a reason to explore new technology and the resulting opportunities across the organization.

Next week.

Knock Knock.

Who’s there?

Your competitor.

Your competitor who?

Your competitor who will steal your customers if you don’t embrace IoT.