The panel discussion on “The Technology: A Deep Dive into Connected Technology and Platforms” revolved around four major questions – what you need to consider to ensure that your IoT project is successful, the implications on data storage and speeds, security (the million-dollar question!), and the next stage in the evolution of connected technology.
While an earlier panel discussed what companies need to know while investing in IoT, this panel, which included Barry Po (mCloud), Skye Kidder (Eddy Solutions), Byron BeMiller (Semtech), Tess Van Thielen (Rogers for Business), and Derek Wallace (LoRa Alliance), compared detailed notes on what would make a project more successful from a connectivity perspective.
When Byron BeMiller, Director of Product Management, Semtech, kicked off the discussion he said that companies need to find the right tool and get the right people on board for implementation. Another important consideration according to him is for companies to have a clear understanding of what outcomes they are looking for as that’s what will propel them forward towards further implementation.
On the same topic, Tess Van Thielen, Vice President of Advanced Services, Rogers for Business remarked that data connectivity is an essential service like water and gas and that it needs to be part of the early planning and design. She said that connectivity is like the backbone which will help you accelerate.
A massive amount of data is being generated as IoT devices are becoming more common and this has implications for data storage and speeds. Barry Po, President and CMO, mCloud mentioned that there are two important factors that need to be considered – one, how much network bandwidth is being used (how much goes to the cloud and how much stays in the edge), and two, where the computing happens. “Data sovereignty is another factor,” Tess added, “You need to decide whether you want to keep the data private (within the building and/or within the country’s border) or in the cloud.”
With numerous use cases available, it is a tough task for companies to choose the one that works best for them. Speaking on this, Skye Kidder, Business Development Director, Eddy Solutions, said the choice boils down to the asset class and that one has to look at all the stakeholders, who benefits from each use case and go with the one which solves problems for most stakeholders. Byron echoed a similar sentiment noting that the choice must be more in line with the expectations of tenants as they are looking for not only a building to occupy but a space that is safer, greener and contributing to enhanced productivity.”
Probably the most important question that comes to mind when we speak of IoT and connectivity is that of security or as Barry Po put it “the multi-headed beast”. Skye made a few important points noting that we need to understand what procedures we have in place to defend our customers’ data. She also added that it is important to ensure that we pass on the same best practices (like penetration testing or third-party testing) and safety standards to our vendors and partners.
Each new component added to the ecosystem poses a possible security risk and with so many components involved, where does one focus to ensure safety. According to Byron, we need to secure all 3 components – the device (that collects data), the network (which transfers data), and storage (where data is housed or processed).
We are going to see a lot of accelerated change in the next 1-2 years, in terms of becoming more efficient and safe and a lot of interesting solutions are coming to the market. There were several interesting ideas about the biggest evolution facing connected technology but the one which captured the imagination of more than one panelist was that of Tenant engagement (or in other words occupant experience).
Maybe that’s where the answer lies. Successful companies are not the ones that just provide customer service but those that go the extra mile to deliver customer delight.
The full webinar can be viewed here.
About the Author: Parthi Radha
Parthi Radha is a marketing professional and is currently working with Eddy Solutions as an Events Marketing Coordinator.
In the dynamic world of property and builder’s risk insurance, the industry faces mounting challenges, particularly from water-related damages, a predominant cause of property claims. This scenario has compelled insurers