While many companies still don’t have a grasp on exactly what the Internet of Things (IoT) is, large companies continue the race to dominate the IoT space. So who’s the next megaplayer?
Bringing together a diversity of perspectives and industry experiences, the Dell, Inc. 1-5-10 Series IoT Discussion hosted in San Francisco this year has stimulated discussions and interest in the potential for IoT to service companies and consumers in a multitude of ways.
Maribel Lopez, founder, strategic advisor, industry analyst and author for Lopez Research, joined John Furrier, cohost of theCUBE, from the SiliconANGLE Media team, to cover high-interest points of discussion on IoT and its business relevance.
Data availability and adoption
Lopez’s response to the event was a positive one. “I think the thing that was interesting about this event is we talk a lot about what’s hype and what’s potentially real,” she said, and then followed up this assessment with a candid read on IoT’s actual level of popularity. “I think we’re evangelizing right now. I think when I talk to companies, most of them don’t know what IoT is or what to do with it.”
Despite the relatively limited adoption of IoT tech so far, Lopez felt that the range of services covered by the umbrella term had enormous potential waiting to be tapped. “I look at the value three ways,” she said. “The first thing you do is you make yourself more efficient … The second layer of value is data you didn’t have before … Phase three, brand new business models created out of that.”
“Where it really gets interesting is who can take data and use that data in a software application that is meaningful to topline revenue,” Lopez continued.
While several of the IT industry’s “whales” are giving each other stiff competition in the race to achieve IoT dominance, Lopez felt that none of them had yet shown a significant clinch on the most innovative opportunities of the service. “I think we’re going to see new entrants. … I think we have yet to see the next IoT software mega-player,” she stated.
While acknowledging the essential utility of connectivity and integration platforms, Lopez noted that “those are not the things that drive the value. The things that drive the value are … going to be the high-end workflow, getting the process done, getting the revenue in … and I don’t see enough investment in that space.”
Lopez recommended that the first thing that everybody should do is to figure out if they’re going to connect anything, can they secure it? “That will just screw everything up if you don’t get that done right,” she said.
Placing high priority on figuring out an IoT security strategy, then communicating with vendors to determine any possible new data-collection sources, Lopez presented a strategy for companies looking to incorporate IoT services that, even in these early days as businesses come to terms with its possibilities, came across as clear and firm.
Watch the full interview below, and be sure to check out more of SiliconANGLE and theCUBE’s coverage of Dell’s 1-5-10 IoT event.