Surprising to many, technology related issues like scalability and cyber-security are not the greatest challenges facing companies considering the adoption of Industrial Internet of Things (IIoT) platform technologies. Instead, the top two challenges are financial: building the business case and funding.
LNS Research analysts have attended hundreds of conference sessions, client meetings, and vendor briefings focused on this topic, and the reason why building a business case for these technologies is so difficult boils down to one very simple idea.
You don’t know what you don’t know.
Most executives intuitively see the potential for the IIoT to enable multiple use cases, including improved asset reliability, optimised production operations, increased product quality, remote monitoring, or enabling new business models, to just name a few. As a rule, these use cases fall into two categories: new technology for old use cases and new technology for new use cases.