“Why incur the expense of generating and collecting all of this IoT data if you’re not going to monetize it?”
Organizations are racing to embrace the Internet of Things (IoT) as the pundits create “visions of sugar-plums dancing in their heads.” McKinsey Global Institute released their study “The Internet of Things: Mapping the Value beyond the Hype” in June 2015 that highlighted the staggering financial value that IoT could create! (See Figure 1.)