One of the key areas of development for next generation wireless technology is IoT. Many discussions and conference presentations on IoT focus on technology and use cases. There are many companies that are building the necessary components, networks, and applications that enable the development of IoT networks.
And lot of attention is paid to the myriad of use cases for IoT that can be enabled by these technologies. But very little attention has been paid to the actual business case for deploying IoT networks, either for a potential operator of IoT networks, or for the end enterprise user. This lack of hard financial analysis has led to the deployment of many Proof of Concept (PoC) networks for IoT, but very few production deployments.
WiROI™ IoT Business Case Analysis Tool
Wireless 20/20 has now developed the WiROI™ IoT Business Case Analysis Tool, the latest version of its award-winning business case modeling tool. The tool can be adapted to most IoT deployment scenarios to understand the key economic drivers for a proposed IoT deployment. The can support asset tracking, sensor networks, environmental networks, control networks, and many other use cases which are being floated in the industry. While many of today’s IoT solutions are very innovative, there is a lack of hard quantitative economic analysis to cost justify wide deployment of solutions. The WIROI IoT Business Case tool allows a solution provider, or an enterprise end user, to understand the costs for a deployment, do a cost comparison between a number of technology options for the network, and way those cost against either the cost savings afforded by the solution, or the revenue opportunity generated by the deployment. The model can compare Bluetooth, LPAN, Wi-Fi, NB-IoT, satellite, and other wireless technologies that can be applied to IoT use cases. The positive side of the cost equation could come from new revenues that can be generated or cost savings such as, asset recovery, operational savings, energy savings, speed of service, and numerous other savings that can be modeled.
WiROI™ IoT Business Case Analysis Tool GUI
Wireless 20/20 is engaging with the leading IoT solution providers to help them show their customers how to turn a profit with IoT, so that more IoT projects transition from PoC to full production.