Connected devices and the IoT (Internet of Things) could have a big impact on the construction industry in the year ahead. Contractors are able to use the technology to connect assets at the jobsite and build some intelligence into the buildings being constructed. But does your company understand how to unlock the business value of these devices?

Long before the average business person became aware of how different devices could link together and to the cloud, the M2M industry has been preparing for an IoT explosion. As a broad spectrum of connected devices collect increasingly vast amounts of data, one of the ongoing challenges is turning raw data into real business value.

A recent whitepaper from Beecham Research, www.beechamresearch.com, London, England, and Oracle, www.oracle.com, Redwood City, Calif., explores the issue. The report, entitled “Unlocking Your Business Value: Leveraging Java on Devices,” suggests growth in IoT opens up many service-driven opportunities; it delivers increased efficiencies, better customer value, and even improved quality of life. But it also suggests that in order to realize the full potential of what M2M and IoT have to offer, the industry must take a second look at the way it builds devices.

The report highlights Oracle’s Java technology, an application platform that Oracle says can help develop functional, reliable, portable, and secure solutions for embedded devices. Beecham’s analysis suggests that as value shifts from hardware to software, technology solutions like Java can not only provide higher efficiencies and lower costs, they can open the door for devices to contribute better data.

Ultimately, when devices are more intelligent, remotely updateable, and capable of making the best “local decisions” possible, it drives better decisionmaking. In other words, it helps construction companies unlock the true potential of their connected devices, extracting the highest level of business value from their current deployment.

As construction companies look to maximize their current investments—and as new IoT deployments expand in areas such as the jobsite, smart buildings, and smart homes, among others—businesses will continue to face challenges such as time-to-market, security, and reliability.