Technology and communications companies have an unprecedented chance to seize the IoT (Internet of Things) moment. If they place the right bets, the payoff will be enormous. If they stumble, they will likely lose millions to competitors who made wiser strategic choices.
Understandably, many technology and communications companies are looking to develop IoT platforms. That’s probably not the smartest play. The greatest opportunity may lie in developing the software and analytics capabilities in those parts of the information chain they have already mastered.
By building on their strengths, they can zero in on winnable—and lucrative—pockets of value.