Our world is connected. Digitization is everywhere. The Internet of Things (IoT) is growing ceaselessly. This affects both our private and business lives, and changes them for good. The question is: how can digitization change businesses for the better?
By now, most CEOs and business executives have come to realize the inevitable need to enter the world of IoT and adapt their products and services accordingly. However, while many executives realize the potential value of digitization, it still bears the stigma of a ‘necessary evil’: something to must be done due to current trends rather than because of its return on investment. And even those who understand the importance of digitization tend to underestimate the know-how required to create a stable, long-term solution.
Hard-pressed to keep up with their competitors, CEOs and CTOs prefer in-house development of IoT platforms in order to save money – to the great disadvantage of their own companies. Those tasked with creating and maintaining a proper solution are rarely software developers and architects with the necessary expert knowledge. They are usually employees with different responsibilities in day-to-day operations. This lack of expertise tends to be accompanied by a lack of time, which leads developers to use outdated technologies and coding methods, or copy other solutions on the market. These solutions, however, often prove inadequate for the business’ product.
While this strategy may appear cost-efficient at first, it actually harbors huge – and expensive – risks. Malfunctioning and low interoperability can seriously decrease a product’s value, if not render it useless to customers. Malware, bots, and hackers pose an even greater thread since attacks in this field tend to completely shatter customers’ trust in a company. In short, botched solutions can damage or even destroy a company’s reputation, put off customers, and, in the end, occasion higher costs than a professional solution would have. An overview of the multitude of IoT fails and their consequences is available in the IoT Hall-of-Shame.
Business executives who are reluctant to invest in external expert solutions usually don’t grasp the potential of a high-quality IoT platform. Digitization is more than just an IT project, an ‘add on’ to a product. Digitization is a means to revolutionize entire companies and industries, and if done right, for the better. Regular updates keep products and services from becoming obsolete and protect them from hacker attacks. Integrative IoT ensures communication across devices regardless of their operators. Data acquisition provides information for companies to perfectly tailor their products and services to their customers’ needs.
guh is a young and innovative company with an international team of top-notch software architects. The small size of our enterprise allows us to develop the perfect solution to turn your product into a digital revenue machine, fast and hassle-free. Please feel free to contact us for a non-binding first talk.
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