Measuring the Value of the Internet of Things
This is the value of the business, but at the consumer and user end of the pipe things will blur and the values perceived will transform as actual end users creatively adapt to the new environment of ubiquitously connected idiot savant devices in their lives. Verges will be crossed, and things and products as yet unimagined will become real.
Gartner is predicting the IoT will tie together approximately 26 billion units by 2020, and IoT product and service suppliers will generate over $300 billion in incremental revenue by that same year.
Yet, only 6 percent of the respondents to a recent ISACA survey were aware of the term “Internet of Things,” and 92 percent have concerns about the information collected by Internet-connected devices.
THINKstrategies believes that these concerns stem from a lack of education regarding the various benefits that can be derived from IoT technologies and real-world use cases. Instead, too many organizations and end-users are more aware of the potential privacy issues surrounding their connected devices as a result of the NSA scandal and other revelations about misused data.
While these concerns are healthy and raise legitimate questions about the potential abuses that can arise from monitoring objects and the people who use them, the real benefits of these new network capabilities far outweigh the threats.
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