From computing devices to connecting devices and generating enormous data. However, this data is rendered useless if it is collected, stored, and analyzed effectively.
IoT (Internet of Things) enables organizations to drive innovations through the efficient use of data. IoT capabilities, such as data analysis and automation, assist businesses with better decision-making, efficiency, and productivity.
Organizations that get IoT right, the benefits are copious. Thus, it isn’t surprising that the IoT industry is growing in leaps and bounds. As per a report by Gartner, the IoT market is projected to reach a value of USD 2.0 trillion by 2020, with 8.4 billion connected things.
That said, despite IoT’s significant growth and its priority in business decision-making, many IoT undertakings are registering stark failures.
According to a Cisco study, as high as 60% IoT initiatives fail at the proof of concept level. In the same study, only 26% of companies agreed that they had a successful IoT project.
Almost three-quarters of all IoT projects are failing. There are myriad factors contributing to this failure, some of these being an unclear objective, poor choice of technology, interoperability issues, or simply undefined project requirements.
Based on experience with developing, launching, and expanding the IoT projects across organizations, we share some of the most essential to-dos that can help you in successful IoT software product developments and implementation.
1. Avoid saving costs at the wrong place
Prototyping enables companies to consider the needs, inputs, and requests of clients, and swiftly demonstrate, via mockups and wireframes, what their IoT product will look like while leaving enough headroom for iterations. So do not try to save costs by skipping prototyping, this will only increase your woes by adding additional expenses in the form iterations and change requests at the later stage.
2. Don’t expect a ready platform to ease development
The irony about picking an IoT development platform is that selecting an appropriate platform can enable your project, but the selection of the platform can be extremely testing.
Though many users believe that off-the-shelf platforms can never go wrong since they have been tried and tested, this belief may not be always true.
Off-the-shelf platforms have a generic design, which has been made for a wide range of domains, like home automation, renewable energy, etc. Moreover, you will have to rely on the vendor for firmware upgradation and security patch updates, etc.
Some research can help understand what will suit your need better an off the shelf platform or a bottom-up development using open source technologies.
3. Scalability should be considered well in advance
IoT is a network of connected objects sharing and exchanging data continuously via the Internet. With technology advancements, the motives driving IoT product development are evolving from simple tasks, such as data analysis, to more complex functions, such as smart networks.
This quintessential shift demands an IoT product that is highly scalable, horizontally (expanding network to accommodate an increasing number of connected objects) as well as vertically (building the efficiency of an already-existing software/hardware by attaching more resources).
Therefore, scalability is a functionality that should be considered right from the beginning of product development.
4. Data security cannot be compromised
With IoT comes the upside that we are able to achieve and do things that could not have been thought of before, e.g., switching on your washing machine using your cellphone. However, this continuous digital connectivity also poses higher security vulnerabilities.
Research has proved that hacking can result in malicious access to critical data. So data security should be key right from product development. Security should be resilient from the most basic (password protection) to the most advanced levels (platform security).
Employ functionalities such as hardware security modules, key manager, end-to-end encryption, machine-to-machine authentication, API security, and cloud security, to ensure your IoT solution has the toughest security perimeter. Talk to us to know more in this regard,
5. Clear deliverables for hassle-free development
Product engineering – designing, prototyping, developing, and implementing – involves various members and teams, including stakeholders.
Communication and collaboration are key to product engineering. It is crucial that all stakeholders and teams are aware and informed well in advance about how the success of the final developed product is going to be measured.
At Pratiti we use Agile and DevOps to ensure this clarity of objectives, proper planning, and timely reviews. All this ensures that everyone involved in the development process is on the same page and understands the expectations.
IoT or Software product development is an extensive process that requires attention to every detail. Working with experts helps to smoothen your tech journey as nothing can replace knowledge, experience and sound advice.
Over the years we have developed a unique tech development process that ensures consistent results for many of our clients. To know more about this process you may. Download this “GUIDE TO SUCCESSFUL TECH PRODUCT DEVELOPMENT”. Hope you find this guide helpful.
These small details matters as much as the overall development process. If you need any advice or consultation with regards to your area of work, please feel to reach us on firstname.lastname@example.org
After successful 5 years stint in a corporate role, Nitin is back to what he enjoys most – conceptualizing new software solutions to solve business problems. Nitin is postgraduate from IIT, Mumbai, India and in his 19 years of career, has played key roles in building a desktop as well as enterprise solutions right from idealization to launch which are adopted by many Fortune 500 companies. As a Founder member of Pratiti Technologies, he is committed to applying his management learning as well as the passion for building new solutions to realize your innovation with certainty.