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To Build or to Buy: What to Consider When Implementing IoT
An estimated 60 percent of global manufacturers used analytics, data and connected equipment to optimize productivity in 2017, according to IDC. In addition, technology company Ericsson predicts that this year, IoT-enabled equipment and products will outnumber mobile devices. The Industrial Internet of Things (IIoT) is currently vaulting across industries. There is no turning back. When I talk to CEOs of industrial companies, however, I find enthusiasm, but also a lot of hesitation. Something is stalling IoT efforts, even when leaders understand the importance of IoT. What’s keeping leaders from jumping on board? One answer can be found in the complexity of connecting the hodgepodge of legacy IT systems, the intricacy of legacy physical assets and the convergence of info tech (IT) and operational tech (OT). A second answer is that few industrials possess the in-house knowledge to identify their IoT needs, much less the resources to develop and implement them. A key decision that will impact the overall success or failure of the implementation is whether to build a system from scratch in-house, seek a customized solution from third-party experts—or create some hybrid of the two.
TOR JAKOB RAMSØY
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