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Top 10 Principles of IoT Strategy

Nov 29, 2017 8:24:00 AM

by Josh Boxer

Imagine having the technology to put sensors into your manufactured item such as a vacuum, TV, Stereo or lawnmower and be able to tell when there is a problem with a component.  The company is alerted and is proactive in calling the customer with either a new part or a solution to fix it right there on the spot.

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The increasing complexity of new technologies has led to a need for rapid transformation among modern enterprises. As the need to do more with less continues to become more prominent, today’s CIOs have been challenged with better aligning IT with business strategy, realizing greater levels of organizational and operational efficiency, adopting and integrating the latest in digital technologies, and achieving all of this while simultaneously reducing costs and becoming more productive than ever before. For many, this has meant leaving traditional business models behind to embrace a more integrated approach to IT delivery.

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Today’s IT leaders can no longer afford to be stagnant or complacent; they must constantly seek out new ways to drive innovation, improve digital capabilities, and do so while becoming more efficient and productive than ever before. The traditional mindset of ‘command and control’ has given way to an era that encourages cross-functional collaboration and the adoption of integrated IT solutions. Outsourcing, due to its ability to facilitate greater levels of organizational and operational agility, specialized resources, and reduced operating costs, has become increasingly popular among today’s CIOs.

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According to the 2015 Momentum® Market Trends & Insights® Report, the annual contract value (ACV) for outsourcing engagements within the utility industry jumped 24 percent since 2014, outpacing the next closest industry by more than double. For many IT leaders, a primary focus has been, and will continue to be, in regards to effectively supporting core business needs while addressing the unique challenges faced by today’s utility industry. Although the need to realize a more agile and digitally-capable infrastructure environment is widely felt across all industries, the increasing need for utility companies to find the proper balance of operation, cost, and resource allocation has caused many organizations to turn to IT outsourcing as the solution.

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Although it has only surfaced in recent years, copy data management (CDM) is continuing to grow in popularity within the IT community. About 5 years ago, organizations became acutely aware of the high costs, time allotment, and complexity associated with storage consumption management, and recognized the need to reduce the unnecessary duplication of production data.

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