What are the key strategic questions to work out at the start of an IoT initiative?

Besides obviously “what type of protocol does this project need?” More along the lines of business planning.

Link to original interview: What are the key strategic questions to work out at the start of an IoT initiative? - YouTube

The areas where I think more work needs to be done on the front end in terms of IoT initiatives are market research, customer research, and truly understanding where people see value in the connected device.

Next it’s really important to look at how you go price that service. There are a lot of different ways of doing it. You could have a premium offer and then kind of upsell people.

And then the go-to-market strategy is really important. Are you going to sell this direct or indirect?

So I would spend a lot of time in the beginning working on those areas. And after that the focus shifts to the overall user experience - all before you even get to the point of the technology selection, building prototypes, and things like that.

So I mean this is not so different from any other product development process.

But I think in IoT we get so wrapped in the technology that we almost lead with the technology. I think this is especially the case with data sets as data can be absolutely overwhelming. And there’s not equal value to all the data that you’re providing and you really need to understand “where is the value of this data?” and “how can we deliver this to the customer where it’s meaningful?”.

Otherwise it won’t be. I remember conversations with doctors and because we were talking about tele-medicine and they’re like, “listen until they start paying me for looking at this data, I’m not going to look at this data.”

So you have to really get the incentive models to work and make sense before you’re going to have a successful solution.