What do IoT leaders do that separates them from the IoT laggard crowd? McKinsey and Company wanted to find out, so they conducted a study to get some answers. What IoT leaders do to excel and drive greater results compared to their peers is explored in their report, What separates leaders from laggards in the Internet of Things. Organizations from 11 major industry segments from Canada, China, Germany, and the United States were included in the survey.The study is based on interviews with 300 IoT executives from companies that report more than $500M revenues, and are also implementing large-scale IoT strategies with projects that have made it from pilot to production. The article that follows does an excellent job of dissecting the study, and pointing out the attributes that separate the IoT leaders from the rest of the pack.
- IoT Leaders are achieving cost and revenue gains of at least 15% or more, while laggards see less than 5%.
- Pursuing 80% more IoT use cases compared to their peers, IoT Leaders are progressing faster down the learning curve of monetizing their application areas.
- IoT Leaders anticipate that their IoT use cases will boost their gross profits by 13% over the next three years, three times as much as IoT laggards.
