{"id":7332,"date":"2017-05-03T07:00:15","date_gmt":"2017-05-03T15:00:15","guid":{"rendered":"http:\/\/formtek.com\/blog\/?p=7332"},"modified":"2017-03-29T07:30:32","modified_gmt":"2017-03-29T15:30:32","slug":"industrial-internet-of-things-businesses-see-iiot-as-path-to-future-success","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/industrial-internet-of-things-businesses-see-iiot-as-path-to-future-success\/","title":{"rendered":"Industrial Internet of Things: Businesses See IIoT as Path to Future Success"},"content":{"rendered":"<p>Industrial Internet of Things (IIoT) is expected to have a huge impact on the future operations of many businesses. \u00a081 percent of\u00a0businesses say that they expect IIoT will be critical to their success in the future, according to a <a href=\"http:\/\/www.genpact.com\/downloadable-content\/genpact-iw-report-final.pdf\">report by Genpact Research<\/a>, sponsored by GE Digital. \u00a0A problem is that only 25 percent of those companies say that they have come up with a business plan for moving forward with the technology.<\/p>\n<p>What&#8217;s holding businesses back from moving forward with IIoT? \u00a0The Genpact report cites the following reasons that businesses say are blocking strategies:<\/p>\n<ul>\n<li>Data security issues and worries (37 percent)<\/li>\n<li>Lack of technology skills (35 percent)<\/li>\n<li>Concerns of integration with legacy systems (34 percent)<\/li>\n<li>Data quality concerns (34 percent)<\/li>\n<li>Privacy issues (33 percent)<\/li>\n<\/ul>\n<p>The Genpact report finds that &#8220;one of the unique characteristics of digital technologies like IIoT is that reaping all of the benefits requires coordination not just between value-chain partners\u2014which can be immensely challenging on its own but between departments within a company. Successful deployment also requires technical expertise and well-directed investments. 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