What do the Nest Thermostat, Ralph Lauren Polo Shirts, and Fitbit Motion Trackers have in common?
Here’s a hint: it has to do with the Internet of Things.
All three companies managed to take saturated commodity markets and release products with obscene profit margins.
Therefore the question we pose in this article is, how can you bottle up a little bit of The Internet of Things magic and sprinkle its profit making dust on your projects?
As of late, I’ve noticed more and more companies trying to tap into the “Internet of Things” to transform their industries and services. While brainstorming what exactly I would say, I realized that this was less of a “technology” discussion and more of a process conversation. If you're truly going to achieve breakout velocity, then you need to be able to use the Internet of Things to impact business outcomes, and that is what this article is about.
Do you want to increase your likelihood to win a project? Of course, you do, but what are your current options to do that? Therefore, I created this definition that I feel really captures the essence of this article.
The Internet of Things is less about the introduction of more widgets, gadgets, and devices. Because of the Internet of Things, the barrier of entry for work in the BAS space is lowered. The Internet of Things gives you permission to continue doing business with your client long after the installation is completed. In the past, when I needed to validate an environment for a client, I would purchase ridiculously expensive sensors. With the Internet of Things, I no longer need to install sensors, upload data, and graph values.
I can hear some of you saying, “Hold on a minute, you want me to be a programmer? You want me to design networks? You want me to design technology? I thought this was going to open up opportunities not create new work?” Some of you in the Building Automation Space may remember when we switched from pneumatics to Direct Digital Controls (DDC). The purpose of this article was not to teach you the technical aspects of designing and implementing the Internet of Things. The purpose is to get you to visualize your problems differently. After all, that is what the Internet of Things is really all about. However, with the lower barrier of entry, if you can dream and procure it, then you can sell it. Therefore, your challenge is to look at things differently.
Naturally, I would expect that you would want to know a couple next steps to guide you forward. Currently, there are only a few companies that have Reference Architectures for the Internet of Things. At the end of the day, most of the work you will be doing with the Internet of Things revolves around sensors. This can be scary for someone who is new to the Internet of Things landscape.
Finally, I would like to leave you with one parting comment. The Internet of Things is complex, it is a market that has not yet jelled and it is full of companies, frameworks, and ideas. This can be scary for someone who is new to the Internet of Things landscape. My advice to you is to not let this complexity scare you away. While there are hundreds of companies competing for your business in this space, you can narrow them down if you simply know what you want to do. If you follow my steps above, you will be in a good position to further expand your business into the world of the Internet of Things.
Phil Zito is a Senior Technical Program Manager at a Fortune 100 Company. He is focused on Systems Integration and program management and has 12+ years in the smart building space. The thoughts in this article are based on his experience and do not represent the views of his employer.
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