Many new IT trends have the capability to change businesses, and have been significant drivers in past transformation.

The Internet of Things (IoT) is now set to further overhaul how companies operate, and it's essential that proper management processes are in place to handle this new business opportunity.

Failing to correctly implement and govern a new trend could lead businesses to face cost overruns and project setbacks.

Understanding the IoT

Trends such as cloud computing and Big Data are only now becoming fully utilised by businesses across the globe, and there's certainly going to be hesitation around the adoption of a new technology.

The IoT is substantially different than the above two, however, as it has the ability to transform how companies garner information and interact with customers. The 'things' are a number of devices and sensors linked and able to transmit information via the internet.

A supermarket chain, for example, can use sensors and cameras across several stores to see how exactly customers are spending time in a store, and what products they're engaging with. The IoT offers access to data that's tangible and actionable.

Growth in startups

It's common to think new IT trends are developed solely by large organisations, but this likely won't be the case with the Internet of Things.

A new study from Gartner's Maverick Research (a firm designed to spark unconventional insights) has found that startups less than three years old will be a driver of IoT solution development.

In fact, the company has predicted that by 2017, 50 per cent of all IoT solutions will be created in companies of this size.

These startups have been defined as entrepreneurs who create products using traditional tools – along with new design tools such as rapid prototyping technologies.

Pete Basiliere, research vice president at Gartner, explained that this is a shift from traditional IoT development.

"Conventional wisdom is that the growth of the IoT is driven by large enterprises," said Pete Basiliere, research vice president at Gartner," he said.

"As is always the case, there is an element of truth in conventional wisdom and major consumer goods companies, utilities, manufacturers and other large enterprises are, indeed, developing IoT product offerings."

The Gartner study explained that as a result of this startup-focused development, enterprises will need to change their product discovery processes, and begin investigating smaller companies to source to new ideas.

By doing so, larger organisations will gain access to invaluable new processes and technologies. Of course, ongoing management is an altogether different requirement.

Managing new trends

While development of the new IoT applications may be the focus of startups, companies of any size should ensure that they're ready to handle implementation. The Information Technology Infrastructure Library (ITIL) is one of the best approaches, as it provides a comprehensive approach to IT service management.

This is a set of best practices that have been drawn from public and private sectors across the globe. In turn, this means only the most relevant and valuable service management knowledge has been accrued.

Once staff have taken part in an ITIL training course, they'll have access to a service management tool that provides a best practice approach. Users also have the benefit of utilising a framework that's been developed and honed over a long period of time to provide strong guidance.

The IoT can then be deployed based on the exact needs of the businesses, and governed correctly from the outset. This helps to ensure there's both no wasted time or resources.

ALC Training/PDA are one of the most capable providers of ITIL training in the world, with flexibility that makes it easy for companies to take part. Courses are hosted throughout Australia and other Asia-Pacific nations, and can also be delivered where required.