What the Internet of Things (IoT) means for CIOs

The Internet of Things (IoT) is having a significant impact on modern companies. Here's what the rise of IoT trends means for data-focused CIOs…

The Internet of Things (IoT) is having a significant impact on modern companies.

Today, connections don’t just happen between people; they’re also developing between processes and “things” too. As the business environment grows increasingly complex, IoT offers opportunities to track performance, improve efficiency, and even enhance end-user experiences.

Before any business can use the Internet of Things as part of their digital transformation roadmap, however, it’s crucial for CIOs to be aware of what they’re getting involved in. By 2020, Gartner predicts that there will be 20.4 billion IoT appliances to manage around the world.

Here’s what the rise of IoT trends means for CIOs.

CIOs and the Internet of Things: Handling data

CIOs have always had a close relationship with business data.

By gathering crucial information, these high-level professionals can make important decisions about the future of a company, and the kind of technology an organisation needs to pursue.

Lately, the quantity of data that CIOs and other business leaders have had access to has been growing. IoT for CIOs will mean even bigger amounts of information to sort through each day. In fact, according to IBM, a single connected car produces around 25 GB of data each hour.

To stay on top of their new connected environment, CIOs will need to figure out how they’re going to house and manage the swarms of data that their devices are connecting. This means looking at the following factors:

  • How will you store the data that you collect through IoT devices? You’re probably going to receive information in both structured and unstructured formats from connected things. CIOs will need to consider how they’re going to store that information, and how they can make sure that they don’t run out of bandwidth. Additionally, how accessible will you need that data to be going forward?
  • How will you classify the data you receive? As IoT trends continue to evolve, many businesses are discovering the benefits of categorising data and using that information to make informed decisions. Developing a system for categorising information will be crucial for companies looking to unlock the true potential of their business devices, as well as those who need to ensure they remain compliant with regulations.
  • How long will you retain your data? With considerations like GDPR to think about, IoT for CIOs will involve thinking about how long their company should store information. Record retention strategies will keep you from overloading your cloud usage limits and ensure that you don’t get into trouble with GDPR standards.

The Internet of Things will also push CIOs to consider how they can securely dispose of data when it’s unnecessary. A strong IoT strategy isn’t just about keeping data secure when you have hold of it but also making sure that you’re not leaving any private information open and available to access when you dispose of it.

IoT trends and the constant issue of security

The Internet of Things can offer incredible opportunities to CIOs and businesses alike.

With connected devices, you can gather information and insights that you wouldn’t be able to access anywhere else. What’s more, the internet of things can even improve things like business security, performance and cost efficiency. However, IoT for CIOs will always include careful consideration of security measures.

The Internet of Things connects billions of devices to the internet, through various data points – some more secure than others. Because IoT environments have such a large attack surface, it’s crucial for companies to have the right measures in place to keep vulnerabilities to a minimum.

For instance, on a basic level, companies using connected devices like tablets and smartphones in a business can implement mobile device management solutions that allow them to delete data and manage software rollouts from a distance. It’s also possible to reduce access to connected IoT devices by using two-factor authentication, biometric security, and other measures.

To design the best security strategy, CIOs will need to ask themselves:

  • What kind of risks do their sensors, devices, and databases face?
  • What kind of encryption can they put in place to reduce the risk of catastrophic breaches?
  • How can protections be put in place to secure sharing and connectivity standards?
  • How can you integrate security into your IoT platform while following the existing procedures and policies you have in place for safety?

Investing in IoT can be an incredible opportunity for CIOs and business leaders. However, like any new technology, it’s essential to have the right strategy in place. If you’re thinking about exploring the benefits of IoT for your brand, reach out to Nice Network first.

We’ll help you to discover the advantages of the IoT environment, and address the security, privacy, and data management issues that your CIO needs to handle.