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Thursday, May 30, 2024

Golioth: Why only 40% of IoT Projects Succeed and How to Increase Success Rates

Last updated Monday, April 15, 2024 10:27 ET

Golioth revolutionizes IoT development by offering a flexible platform that streamlines decision-making, simplifies integration, and empowers developers to focus on driving innovation.

San Francisco, California, 04/15/2024 / SubmitMyPR /

Accompanying the development of the Internet of Things (IoT) is the promise of streamlined operations, predictive maintenance, and innovative new services for businesses. However, despite the remarkable advancement of this technology, multiple studies have revealed a different reality—many IoT projects are failing to live up to their potential.

A 2017 report by Cisco reveals that approximately three-quarters of projects were faltering, with 60% stalling at the proof of concept stage. Even more alarming, only 26% of companies felt successful with their IoT endeavors. The survey highlights several challenges hindering progress at various stages of the implementation. These include underestimating project timelines, lacking internal expertise, struggling with data quality issues, facing integration hurdles across teams, and encountering budget overruns.

Beecham Research's 2020 survey echoes Cisco's findings. It indicates that nearly three-fifths of businesses reported unsuccessful IoT projects. However, the organization emphasizes that the failure rate doesn't relate to IoT's capabilities but rather the complexities in implementation. One of the culprits behind this is technological pitfalls, particularly during the proof-of-concept phase. Many projects encountered difficulties related to network connectivity, bandwidth limitations, and integration.

Such inefficiencies contribute to companies reporting dissatisfaction with overall IoT performance, settling for substandard IoT utility. Still, IoT device deployment is projected to surge over the coming year, and leading IoT platform Golioth emerges as a groundbreaking solution to the challenges hindering the IoT landscape from realizing its full potential.

Industry veteran Jonathan Beri developed the platform to overhaul IoT development workflows. Golioth serves as a universal connector, offering cloud services customized for embedded devices. It streamlines every aspect of IoT deployment, from establishing secure connections and facilitating over-the-air updates to managing data exchange with device fleets and integration with various cloud services. With Golioth, businesses no longer need to navigate the complexities of hardware connectivity and protocol selection, allowing them to focus on value creation.

One of the major contributors to the lack of successful IoT projects, is the number and complexity of decisions required to achieve even basic IoT functionality. This includes decisions around how to connect devices, how to capture data off of devices, whether the data is at rest or data in motion, and where that data needs to be stored. Each of these decisions adds to the complexity of achieving great ROIs when implementing a new IoT solution.

“There are too many decisions businesses need to make when developing or deploying an IoT solution. Many of these are undifferentiated decisions, but can carry enormous risks, especially if the wrong decision is made early on. What we do at Golioth is remove the need for those decisions to be made at all, we’ve already answered them,” Beri explains. “Just as important is managing the risk over the life of the project. Business requirements can change, and Golioth gives you the flexibility to change your IoT solution down the line, without having to predict the future. This means that developers, and decision makers can focus on what is important to them, their business and unique use-cases.”

Golioth offers a three-pronged approach to streamline the journey from prototype to production. Firstly, it prioritizes flexibility. It recognizes that not all decisions carry equal weight. Hence, it integrates with best-in-class technologies and offers hardware-agnostic solutions to help developers make informed decisions without being tethered to specific hardware or protocols.

The platform also addresses the challenges inherent in IoT, such as routing data from sensors to hyperscale pipelines. Golioth takes care of pre-building infrastructure and architecture to eliminate the need for developers to struggle with these decisions. However, it's worth noting that despite this pre-built foundation, Golioth remains highly adaptable and allows developers to customize and fine-tune their implementations according to their unique requirements.

Lastly, Golioth leverages a robust partnership ecosystem to provide support throughout the development lifecycle. "In IoT, there's no one-size-fits-all. Every chip and sensor is unique. So, at Golioth, we partner with top-tier providers to ensure compatibility. Whether you're measuring air quality or monitoring sensors, we're flexible enough to meet your needs. But still, we make sure your security is never compromised. We provide the expertise to guide your decisions, so you have the freedom to customize solutions according to your preferences," says Beri.

There are numerous benefits to seeking Golioth's services. Because it simplifies decision-making, it shoulders the burden of IoT development and frees developers to focus on running their businesses. This shift in focus is bound to help them accelerate time-to-market and maximize return on investment (ROI).

Method Recycling, a pioneer in waste management solutions, attests to the remarkable impact of Golioth's services. The company sought Golioth's assistance to navigate challenges regarding supply chain shortages and fulfill its mission of revolutionizing waste management by utilizing real-time data from rubbish and recycling bins to drive insights and efficiencies.

Eli Thomas, Head of Technology at Method Recycling, shares, "We looked at everything on the market, but Golioth stood out. Its hardware-agnostic approach and compatibility with Zephyr RTOS offered the flexibility we needed. Golioth was the only platform that met our standards for device-to-cloud security while offering the flexibility and scalability we required."

With industries experiencing high growth, while simultaneously facing regulatory impacts, they have a lot to deal with already without adding the complexities inherent in making IoT decisions. Finding a way to minimize the amount, and complexity, of decisions, while being able to remain flexible is crucial if IoT is going to reach its full potential as a driver of data-driven innovation, and exceed the current 40% success rate of IoT projects.



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