To be or not to be, is the question?
This is a question which not only Hamlet faced but is a question that every industry faces in the dilemma of whether to build a solution or buy it off the shelf – especially when it comes to IT solutions.
This is the same with IoT too, the dilemma continues…….How does one take a call on it?
Let us look at some of the factors which would influence this decision:
One of the important factors in answering this question seems to be how much of this solution you will need to keep expanding in terms of implementation. One needs to evaluate if this infrastructure needs to be expanded in terms of both scope and customization over a period of time.
If the system is going to have a lot of spread in terms of the number of applications that it would have within the organization, one has a case for building a custom solution so that a customized framework is ready and can be used for multiple implementations across the organization.
The hardware needed would also play a role in determining whether to go ahead and build a customized solution or not. The IoT(Internet of things) field is still a growing field and unless one has the expertise it may be a challenge to select the appropriate hardware. This may become a challenge if the third-party solution provider working with you does not have to tie up with an IoT devices manufacturing base for all the hardware since otherwise, the cost of hardware might be on the higher side.
Any IoT(Internet of things) based solution will need a hosting environment. One may need to consider if this infrastructure should be hosted on the cloud or there is a requirement for In-Premise hosting. Any third-party IoT solution would need a cloud-based infrastructure. If one decides to host within the premises it will become another deciding factor whether to go for a customized solution.
Unlike a typical software solution, an IoT solution needs more expertise in terms of implementation. If any organization decides to take a DIY (Do-It-Yourself) approach this can soon become a roller coaster ride since there are several technical challenges and trial and error learning which will be needed to get the solution right.
A third-party vendor with a pre-existing Internet of things solution or an off-the-shelf product would already have this worked out for you. Thus saving you time and money.
The most important factor in every business is timing. To reap the benefits of having an IoT solution it is a key factor to make sure that the solution is implemented on a timely basis. Any delay may offer your competitor to get that edge over you. Any attempts to build a DIY solution would need to consider the learning curve, hence if the solution needed is a tactical need of the hour it would be advisable not to tread into developing a homegrown IoT solution.
Generally, there is a tendency to go for an internal call on whether one is capable to deliver an IoT solution or not. These decisions should be based on a SWOT (Strengths, Weaknesses, Opportunities, and Threats ) analysis and not a gut feel or qualitative judgment. One must be very careful when voting for an in-house effort since there are many factors involved in making a successful implementation. If the team involved is not equipped then you would be starting with a disadvantage.
Security & Compliance
Additionally, there may be various norms one may need to cater to depending on the region where the IoT solution is implemented. Thus a partner at hand would be of great help since they would be better placed to understand and apply the IoT security requirements and mandatory compliance.
These are some of the major factors to consider when deciding on how to go about your IoT solution. Feel free to reach out to us at firstname.lastname@example.org to help you make an informed decision. We would be happy to provide a free-of-charge consultation to take you on to the next step.