Partnership the cornerstone for successful IOT implementation
May 30, 2019
A partnership is important in any business more critical in IOT. IOT is like a puzzle. You have to put many pieces of the puzzle to build the complete working model. Each block of the problem is in itself like a standalone one. Trying to put together this system could mean that the project is designed to fail.
The notion of IoT product failure is also backed by the industry data that ~70% of the IOT project fail. Hence there is apprehension among the believers and slows down the wide adoption of this technology. Mass adoption in a large percentage needs seeing smart devices in everyday lifestyle everywhere.
The complexity of the IOT system
Lets first analyze what makes the IOT system complex. It’s the myriad of technology that makes the IOT systems, starting with sensors, gateway, middleware, Cloud, analytics, visualization, AI, security. To integrate them all and to build a successful project is a humungous task, and no one player can be successful. Trying to make this all together is not impossible, but could take years to produce competitive products. A smart system is to leverage partnership to piece together the puzzle and bring the product to market.
Partnership in IOT
As we saw previously, there are various technology pieces at play in IOT. A successful IOT project is one that can leverage the partnership to tap into a different technology. It is also imperative to stay on top of the market. The organization helps in leveraging technology, resources, and ecosystem together between the partners. The partnership also helps in scaling to new markets, new geographies, building a unique solution, leveraging sales channels.
Recent partnership announcements
Deutsche Telekom’s T-Labs and Fetch.AI Ink Autonomous IoT. Sigmadots partners with Telit to strengthen IoT cybersecurity Microsoft Inks Wide-Ranging Collaboration With SK Telecom on 5G, IoT Siemens and SAS partner to deliver AI-embedded IoT analytics Cisco Partners with Major Gas Utility Company to Develop IoT
Once partners are decided, it’s imperative to think of the kind partnership required for you. It also depends on the capability you have built already or the gaps in technology the various kinds of partnership includes
1) Identify your niche and your gaps 2) Identify a partner who can fill the gap and at the same time to whom you can offer value. The collaboration should mutually benefit from being meaningful and long lasting 3) Identify and define the goals and results of the collaboration 4) Plan for long term partnership 5) Instead of building many partners in one area try to develop as many partners in different domains.
If you are interested in partnering with Hurify, then check this out.