Menu

IoT FEATURE NEWS

Survey Results: IoT Implementation is About Revenue

By

TIBCO recently released the results of its 2018 CXO Innovation Survey and it reportedly indicates that businesses looking to adopt IoT are looking to increase revenue. Of the 600 survey respondents in the 2018 TIBCO CXO Innovation Survey, almost 40 percent identified increased revenue as the primary business driver for their implementation of IoT. Second and third were customer acquisition and retention and increased product quality, the survey reported.

Financial drivers
According to survey respondents, decreasing operational costs is the top financial driver behind implementing IoT at 44.3 percent. Next is better customer service and support at 39.91 percent, and eliminating downtime at 38.18 percent. The responding organizations reportedly said they turn to IoT with the hope that it will save them money, reduce waste, and fix safety issues.

Technical drivers
When it comes to technical drivers, the primary technical reason that organizations implement IoT is to integrate data and applications, making up 56 percent of respondents. Organizations looking to implement IoT to leverage cloud technology for IoT data came in second at 48 percent.  The last primary driver behind IoT implementation for organizations is to reduce data security risks with 47.6 percent.




Edited by Ken Briodagh
Get stories like this delivered straight to your inbox. [Free eNews Subscription]

Editorial Director

SHARE THIS ARTICLE
Related Articles

Texas Passes Unique AI Laws

By: Carl Ford    7/3/2025

What is the new Texas AI law all about and what does it mean for businesses and government entities?

Read More

I've Asked the Security Experts, But It's Time You Have Your Say

By: Carl Ford    6/27/2025

Security experts are quick to say they know what's happening, but here's your opportunity to weigh in on the state of cybersecurity in IoT.

Read More

Mary Meeker Returns with AI and Breezes Past AIoT

By: Carl Ford    6/26/2025

We are entering an era where intelligence is not just embedded in digital applications, but also in vehicles, machines, and defense systems

Read More

Nothreat Fights AI Fire with AI in Firewalls

By: Carl Ford    6/26/2025

According to Nothreat, the only way to fight AI cyber threats in IoT with AI is to go beyond detection and into active containment, deception, and aut…

Read More

How Kapitus is Reshaping SMB Funding

By: Carl Ford    6/16/2025

Kapitus is a financial institution that provides various financing solutions to SMBs, operating as both a direct lender and a financing marketplace.

Read More