Proving the ROI of IoT

Executive Boardroom - 10:35 am - 11:00 am

We all know that ROI calculations, on the surface, are simple mathematical formulas: compare the cost of investment against the value of the return over a given and agreed upon period. But determining exactly what each side of the equation entails and totals is the challenging part, and nowhere moreso than in burgeoning areas such as IoT adoption where use cases are still not clearly understood, and technology costs are highly variable, and all the components related to cost may not yet be quantifiable. The benefits are there, as a number of enterprises are discovering with early pilot programs, but CIOs must enter this area with their eyes wide open to ensure that early IoT implementations have the ROI necessary to keep more complex projects moving forward.

Takeaways:

Costs must be carefully quantified for any IoT project " it's not just the sensors, but networking, data, security, etc. spend must be taken into account
Similarly, value must be clearly established both in isolation and in comparison to any more traditional methods that could be used
Successful IoT projects will be those that can initially leverage existing spend to mitigate costs with successive project piggybacking on earlier investments