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

Rising Edge Computing Investments to Reach $350B by 2027, According to IDC

By: Alex Passett    3/27/2024

Worldwide spending on edge computing is expected to surge (and then keep going) for the foreseeable future, according to the International Data Corpor…

Read More

ZEDEDA Adds Lisa Edwards as New Board Member, Seeks Opportunities to Strengthen Operations and Scale

By: Alex Passett    3/26/2024

Earlier this morning, ZEDEDA announced the addition of Lisa Edwards to its board of directors.

Read More

An Existing IoT Collab, Emboldened: Digi International and Telit Cinterion Transform Solutions with 5G RedCap Integration

By: Alex Passett    3/25/2024

The ongoing industry collaboration between Digi International and Telit Cinterion signals strong support for the mainstream showcasing of 5G for IoT a…

Read More

Telit Cinterion's 5G LGA Modules, Powered by Snapdragon from Qualcomm, to Create a Big Leap in IoT Connectivity

By: Alex Passett    3/25/2024

Telit Cinterion recently unveiled its FE990B34/40 LGA family of modules, powered by the Snapdragon X72 5G Modem-RF System from Qualcomm Technologies, …

Read More

Embracing Innovation in Mining: The Role of Network-Aware Applications in the Digital Transformation

By: Special Guest    3/21/2024

Shabodi leverages private 5G network capabilities and enables the development of network-aware applications to enhance operational efficiency, automat…

Read More