The Internet of Things (IoT) is exploding in popularity as companies look to take advantage of new ways to use device- and sensor-generated data to create new Digital Business models or to augment existing systems and processes. Despite the novelty however, many businesses remain unsure of how this information can be collected, analyzed, and incorporated into existing systems. In Saugatuck’ most recent Digital Business survey, 41 percent of respondents indicated that they were either very or extremely committed to taking advantage of the Internet of Things (IoT), and 47 percent indicated that they were using sensor technologies to enhance the delivery of digital products and services. (1390SSR, 2014 Enterprise Intelligence Survey: Digital Business & Hybrid Cloud, 20 June 2014)

Much of this early success with the Internet of Things comes from the low-hanging fruit around mobile device sensors such as GPS or machine generated data in the form of log files (1276MKT, Geofencing, Sensors, Mobility and Location Intelligence Possibilities, 17 October 2013). While there is high expected value from many sensor data sources, at present only 34 percent of our survey respondents expected sensor data to be a medium-to-high enabler of business innovation (1390SSR). This is likely due to the difficulty in setting up new instrumentation, gaining access to existing sensor networks that exist within the organization (which are frequently encapsulated within process control systems), and finally in the challenges of managing and using that data once it has been captured.

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