It’s hard to fathom why so many devices are being developed for the Internet of Things without a thought to security. When you consider the inherent security risks in connected environments, you’d expect IoT vendors to be scrambling to ensure that their devices are compliant and prevent data leaks and other such privacy breaches. As I explained in my recent presentation at LicensingLive! 2015, misplaced trust in the IoT’s complexity seems to be the main reason behind people’s laissez-faire attitude towards security.
With the rise of the IoT (Internet of Things), the era of truly BIG data is upon us. And buried in those endless data streams from billions of connected “things” is customer usage – a type of data that’s essential to recurring revenue success.Unfortunately, most companies only incorporate usage in their billing systems when it directly relates to services they can bill (ex: data charges on a smartphone). As a result, they stand to miss out big time because usage is a key driver of recurring monetization in IoT.
The WSJ recently ran an interesting article on the key challenges of moving to the cloud.
“When on-demand enterprise applications emerged about a decade ago, they were touted as a cheap and more flexible alternative to buying software outright – a move that comes with upfront infrastructure and licensing costs, on top of ongoing fees for maintenance, support, and upgrades. But in practice, these promises have been hard to fulfill”.
The age of the Internet of Things (IoT) has dawned and we are heading toward a future filled with software-driven intelligent devices. To give you an idea of the magnitude of this transformation, IDC is predicting that there will be 30 billion units installed worldwide by the year 2020. Because every device in the IoT is connected, a whole new breed of tech company is emerging, forcing many traditional companies to innovate and go to market differently.