Indeed, IoT is at an inflection point today.
“There are billions of devices already installed,” adds Jerry Lee, Global Group Product Manager, Microsoft.
“As the price-point of IoT devices drops further, the proliferation of IoT will continue to grow.
“Furthermore, as awareness of the advantages of IoT becomes more widespread, so too does demand for solutions.
“At Microsoft we are already seeing more companies move from initial proof of concepts into full blown deployment of IoT across the enterprise.”
Does IoT adoption generate competitive advantage?
According to Lee, the driving force for IoT usage is the desire to make things work better.
For organisations which are already digital, IoT becomes the gel to connect and harness data harvested from across operations.
“Bottom line is,” he explains, “IoT enables organisations to be more competitive by being able to innovate faster, create new efficiencies and revenue sources.”
Closer to home in Australia for example, Dental Corporation deployed IoT to automate reporting processes across 220 offices, giving back precious time for staff at all levels to be more productive.
“In Asia, one of the fastest growing economies in the world, you have to create competitive advantage very quickly to stand out from your competitors,” Lee adds.
“Leveraging IoT can give companies the leg up they need.”
The advantages of IoT are further exemplified in a recent whitepaper published by analyst firm Telsyte on behalf of Microsoft.
It reveals that 65 per cent of Australian organizations that have deployed IoT report operational cost savings at an average of 28 per cent.
Furthermore, slightly more than half (53 per cent) reported that IoT adoption resulted in a 29 per cent increase in realised productivity.