However, given this is still very new, of course, company executives do not want to rush into applying IoT. They must understand which technology is needed and which are not.
Of course, such decision-making should be based on consideration of how much IoT impacts the company's business. Recently, Hitachi Vantara with Forbes conducted a survey to senior executives of companies in the Asia Pacific region related to it.
From a survey to 220 senior executives from companies in the Asia Pacific region found that 87 percent of them believe IoT is important for the future of the company's business.
"Across the Asia Pacific region, it is clear that executives recognize the value of the IoT initiative with 70 percent saying it has considered IoT as something important and a competitive differentiator that will affect almost every industry," said Chief Insights Officer (CIO) Forbes Media Bruce Rogers.
72 percent of respondents said their company has a significant IoT program and 11 percent have recognized a major contribution to their company's business. There are some challenges.
31 percent said IoT security was the toughest challenge. The same portion for other challenges is the cooperation between departments and the availability of skilled workers. From a successful company, Hitachi Vantara and Forbes found 3 practices that made IOT implementation successful.
First, 40 percent of IoT efforts are usually championed by CTOs, and 32 percent by corporate CIOs. Second, the use of 42 percent of external vendors into the company's IoT planning team. Third is the use of third party platforms of 82 percent for their IoT basis.
"The findings of the Forbes Insights survey clearly show IoT's impact on APAC business, we want to see that most businesses have seen IoTs as the key to their future success," said Asia Pacific Senior Vice President Hitachi Vantara Daniel Chong.