5 IIoT Initiative Factors That Lead to Success
This article was first published on SmarterChains’ blog
Security is a central barrier to IIoT adoption — and for good reason. There’s plenty to worry about.
The Industrial Internet of Things (IIoT) brings everything from sensors, machinery to people and corporate systems together, in a merged and interconnected online network. Many manufacturing companies have rushed in to implement and deploy the latest advanced IIoT solutions. However, according to leading industry research, very few IoT initiatives find complete success — only 26%[i]. There are numerous reasons why that is, not least of which is the human resistance-to-change element, a lack of internal know-how and cost overruns.
The purpose of this short article is to give readers a quick outline of IIoT initiative success factors.
How to increase your IIoT project success rate
Start with solid foundations: In SmarterChains’ experience, many manufacturing companies simply lack the solid foundations necessary upon which a solid IIoT initiative can be built. For instance, there’s often an issue with legacy equipment: Old machinery and robots which can’t communicate with new equipment cost-efficiently. Replacing or upgrading the older equipment is often the first step.
Set clear objectives: Whether the objective is operational efficiency or product quality improvements, the need for clarity in IIoT initiatives remains constant. Clarity and openly shared context secure buy-in, as they communicate specific benefits. This is especially important in aligning IT decision-makers and business decision-makers, who often have conflicting priorities.
Plan for adoption: To plan for success, companies must take into account three elements: First, manufacturers need an orchestrated cultural change, which supports IIoT adoption. Second, they need to invest heavier in digital-ready talent acquisition and retention. And third, they need training programs for existing staff, to avoid having a workforce that operates on two different speeds: A fast tech-savvy segment and a slower, traditional one.
Consider security: Security is a central barrier to IIoT adoption — and for good reason. On one hand, IIoT may generate massive productivity gains, cut costs and confer a competitive advantage for the business. On the other hand? Plenty to worry about. When everything is interconnected and online there’s much that could go wrong, including cyber-attacks, unauthorized release of information or even damaged physical assets. To move forward, companies ought to consider security measures to protect sensitive data as well as privacy and protection regulations.
Leverage partnerships: Experience shows clearly that even though IIoT projects may seem simple on paper their implementation is on an entirely different level of complexity. For this reason, companies ought to adopt an ecosystem approach, learn from the failures (or successes) of others, and ultimately, make the process more accessible. In SmarterChains’ opinion, the manufacturing sector will move towards an Ecosystem of Excellence model in its entirety — and sooner, rather than later.
FURTHER READING:
[III] https://www.seriousinsights.net/why-the-slow-pace-of-iiot-adoption/
