Cisco: Almost 75% of Internet projects are subject to failure

May

29

2017

study highlights the key elements of successful Internet initiatives things.
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IDC expects the global base of Internet endpoints to grow from 14.9 billion at the end of 2016 to more than 82 billion in 2025. At this rate, Internet access may soon become one of the indispensable necessities of life, Such as the Internet itself.

Despite the continuing growth momentum, a recent Cisco study shows that 60% of Internet initiatives are stopped at the concept stage of the PoC concept, and that only 26% of companies have an initiative that they consider to be quite successful in the Internet. Worse, a third of the completed projects were not considered successful.

“The reason is not to try, but there are many things we can do to get projects out of the pilot phase and complete their success,” said Rowan Trollup, Senior Vice President and General Manager, Cisco Internet Objects and Applications. That is why we are here now in London. ”

Cisco presented its findings at the World Internet Stuff Forum, an event in which Cisco brings together industry leaders and key stakeholders to speed things up. The company surveyed 1845 IT and business decision makers in the UK, USA and India across a range of sectors including industry, local government, retail, hospitality, sports, energy (services, oil, gas and mining), transportation and healthcare.

All respondents worked with institutions that implemented or already completed Internet initiatives, and all participated in the overall strategy or orientation of at least one of their Internet businesses’ initiatives. The objective of the study is to obtain clear ideas about the successes and challenges that affect the progress of these initiatives.

The Cisco study showed the importance of the “human element.” Internet may seem purely technical, but human elements such as culture, organization, and leadership are very important. In fact, three of the four most important elements to support the success of Internet projects are things related to people and relationships.

These three elements include IT collaboration and business was the first element, according to 54% of the participants, technology-centric culture, emanating from the top leadership and executive care and ranking across all levels of the enterprise, according to 49% of participants, as well as Internet experiences , Whether internal expertise or through external partnerships, selected by 48% of participants.

In addition, the most successful companies in Internet initiatives have benefited from greater collaboration with partners in the system, using partners at all stages from strategic planning to data analysis after implementation.

Despite the strong agreement on the importance of cooperation between decision makers in the fields of information technology and business, a number of interesting differences have been noted, such as IT decision-makers who attach great importance to technology, organizational culture, expertise and suppliers.

Business decision makers believe that strategy, business models, procedures and interim achievements are of great importance, and IT decision makers are more likely to believe in the success of Internet initiatives. While 35% of IT leaders considered their initiatives to be quite successful, only 15% were among business leaders.

The Cisco study concluded that “Do not be alone”. Sixty percent of respondents said Internet initiatives often look excellent on paper, but things get harder than everyone expected. The five key challenges facing all stages of implementation include: time to complete the initiative, limited internal expertise, data quality, team integration and budget overruns.

The Cisco study found that the most successful institutions involve a network of Internet partners at each stage, indicating the importance of strong partnerships during that process and their role in facilitating learning and achievement.

“We’re seeing new innovations in the Internet almost every day,” said Inbar Lasir Rab, Vice President of Enterprise Solutions Marketing at Cisco. “We get to the Internet things we never imagined would be connected, bringing new value to the industry. But we see the greatest opportunity in the areas where we collaborate with our partners from other providers and innovate solutions that are not limited to communication, but rather share data. Shared data is the foundation of networks of sectors, because they allow the exchange of insights and insights for huge business and community gains, where no company can take it alone. ”

The study also found that when important elements meet to succeed, enterprises can reap the tremendous benefits of smart data insights. Seventy-three percent of the participants use data from completed Internet projects to improve their business. At the global level, the main advantages of Internet things are improving customer satisfaction (70%), operational efficiencies (67%) and improving the quality of products and services (66%). In addition to the above, the promotion of profits was considered the most unexpected realized benefits (39%).

Cisco also recommends learning from mistakes. Working on Internet projects has brought things to another unexpected advantage: 64% of respondents agreed that the lessons learned from the failure or discontinuation of Internet Internet initiatives helped speed up their organization’s Internet investments.

Despite the challenges, many participants expressed optimism about the future of Internet things, a trend that is still in its early stages of development despite all its momentum for progress. Sixty-one percent believe they have barely begun to benefit from the huge benefits Internet technologies can bring to their businesses.

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