Tapping IoT's Bounty, Navigating Its Challenges

Most connected product companies are committing to internet of things-enabled offerings to boost their competitive standing, according to a recent survey conducted by Forrester Consulting on behalf of Xively by LogMeIn. A poll of representatives from 230 companies that make connected devices or plan to do so shows that most organizations cite the incorporation of product monitoring features as a key driver for IoT product creation, as well as the expansion of revenue opportunities. Yet challenges, ranging from poor analytics capabilities to security concerns, abound. "Enabling IoT products requires a wide range of capabilities and functions focused on connecting and managing the fragmented array of devices; capturing and analyzing connected product data and transforming this into actionable insight; and transforming the process or engaging with customers," the report reads. Channel players able to handle this complexity stand to benefit. Indeed, many manufacturing firms are relying on third parties "to support and enable processes related to their connected devices, ranging from providing application software development kits to using device data capture and analytics," the report said. Channel Insider looks at key takeaways from the study.