The Internet of Things (IoT) is driving the next wave of innovation in both business models and technology. While the IoT revolution, as it is being called, promises to be a major driver of economic activity and many businesses are coming onboard, if it is not approached with both business and technology perspectives together, the desired outcomes may not always be achieved. In this article we take a fresh look at IoT as a business revolution driven by technology. Our key contribution is the definition of business and technology drivers that need to be considered when choices are being made for adoption of IoT in a business. We provide case studies of actual businesses who have successfully transformed themselves into IoT-based businesses, and we provide examples of key business and technology drivers considered by them.
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