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#News(General) [ via IoTForIndiaGroup ]
It Takes Time and Money
When a new technology comes out in the world, large companies are the first ones to take over and try to develop those technologies and implement them in order to better run their business. That’s great, but for a complete takeover and success, small companies also have to be able to develop a technology like IoT.
First things first, reality is that the Internet of Things is not cheap.
The majority of companies are not ready when it comes to financially investing in such projects. Even if somehow your company gets all the necessary financial resources in order to kick off an IoT project, there comes a other issues.
A big issue is time.
It takes a lot of time for people in a company to learn how to develop IoT, because it is not an easy technology to handle. If there’s something that companies don’t have – especially small companies – it’s definitely enough time.
It’s Hard To See the Benefits
Let’s imagine for a minute that there is no problem when it comes to investing time and money. And truth to be told, sometimes there is not.
One thing that every business does, is studying their competitors. Actually, in order to run a successful business, you definitely have to do that.
When it comes to the Internet of Things, there is a lack of small business case studies, which are the key aspect that would influence other businesses to move towards a more digitalized world. Given the fact that people don’t have enough stories to tell about great IoT project, and there’s a lack of proof that a particular IoT solution is actually very beneficial, they find it hard to invest in it.
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