Video: Why Successful IoT Projects Require a Value Focus

IoT represents such a wide-ranging set of technologies that it is easy to lose track of the bigger picture. JoAnna Sohovich, CEO, Chamberlain Group, advises that enterprise companies keep their focus on value in an interview at IoT World. That may sound simple, but this emphasis can help clarify, for instance, tricky questions such as should own and control the data in an IoT project. “My preference is that it’s a pricing discussion,” she said. Similarly, Chamberlain Group, which makes garage door openers and systems for commercial doors and gates, took a value-focused approach when deciding to add IoT functionality to its product line. “When I arrived about two and a half years ago, the legacy business felt that the IoT stuff was costly, it was a distraction and that there was no way to make money off of it,” Sohovich said. “Once we understood what value we were creating and what sort of revenue model we could build around that value, it became a lot more accepted […] in the executive ranks.”

To hear more from Sohovich, check out the following video: