4 Takeaways From Accenture's $14 Trillion IoT Prediction - InformationWeek

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4 Takeaways From Accenture's $14 Trillion IoT Prediction
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Charlie Babcock
Charlie Babcock,
User Rank: Author
1/23/2015 | 8:16:07 PM
Digital revolution will proceed faster than industrial
The notion that developed economies have the advantage over emerging economies is striking. We've emerged from the hunter/gatherer phase to industrialized society quite slowly and still draw many analogies from outmoded ideas in the natural world, such as "horsepower." The digital economy is going to develop much faster and rest in the hands of those who shift their thinking into the logic of moving bits instead of the logic of moving bushels, barrels and locomotives.
User Rank: Ninja
1/23/2015 | 2:44:43 PM
Three significant figures - huh.
14.2. The very precision of such a figure casts doubt on the whole prediction. The IOT will be a major fork in the road - nobody can seriously doubt that. But to pinpoint it to such a degree is almost silly. There are too many ifs, ands and buts, too many unknowns, too many things that can break in any number of directions. Assumption upon assumption upon assumption. It would be much more believable if they would have said, say, between $12 and $16 Trillion. I was briefly involved in the "prediction industry" at one time, and, yes, those who commission such surveys do demand decimal points. I wasn't high up enough in the food chain to know if they actually believe in them themselves.
User Rank: Ninja
1/23/2015 | 8:51:37 AM
Potential is there
No doubt the potential is there for the industrial IoT to succeed. After all, there are a handful of large organizations who are already operating with a closed loop IoT system -- seeing tremendous results.  However, the big challenge for many organizations is the lack of data knowledge/expertise. Before IoT can truly take off, the data maturity level needs to improve and organizatons need to truly develop an analytical culture capable of driving data-based decisions on a very regular basis. The type of decisions that continue to push the envelope into areas of uncertainty.

Peter Fretty, IDG blogger working on behalf of SAS


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