Data silos hampering efforts to build relationships with IoT

DataIQ News

Silos may still be as popular as ever with the agricultural farmers but for those trying to farm data they continue to be a disaster, none more so that those aiming to develop Internet of Things technology to improve customer relationships.

According to a new report from HCL Technologies, an unco-ordinated, siloed approach is playing havoc with firms trying to get their IoT solutions off the ground.

Of 263 European businesses polled for the report, 49% said siloed approach to data was causing major headaches, with more than four in ten (43%), believing that ultimately customers will suffer as a result.

Ironically, almost two-thirds (65%) said improving business process efficiency and boosting customer satisfaction were the number one reason why they decided to adopt IoT in the first place.

Over 95% of those surveyed are either already using IoT or plan on doing it in the near future; more than eight in ten (82%) agreed organisations that embrace IoT will be in a better position on the market.

HCL Technologies global head of IoT Sukamal Banerjee said: “Many companies have made inroads into the IoT, but when you peel away the layers, very few have embarked on truly transformative programmes.

“Success depends on an enterprise-wide IoT strategy that centralises a significant portion of the data from connected assets onto a single platform, where it can be used to generate revenues and new opportunities. It is only by doing so that they will reach the ultimate goals of IoT: organisational efficiency, more profitable business models and competitive edge."