Ranking of Criteria Affecting the Implementation Readiness of Internet of Things in industries Using TISM and Fuzzy TOPSIS Analysis

The Internet of Things (IoT) technology has emerged as a vital driver across various fields, engaging businesses, platforms, and industries. IoT involves a holistic ecosystem and a value chain that necessitates the evaluation of impactful dimensions for successful implementation. This research employs the TISM method to identify driver and dependent criteria regarding IoT implementation readiness and uses the fuzzy TOPSIS method to rank these criteria. In the initial step, 15 criteria were identified through a review of previous studies. The TISM results reveal five levels reflecting the driver power and dependence of the criteria. Based on these results, “Implementation Knowledge and Expertise (C2)”, “Technical and Infrastructural Readiness (C9)” and “Financial and Investment Readiness (C12)” were placed at level 5, marking them as the most driver criteria. Additionally, “Implementation Roadmap (C8)” was identified as the most dependent criterion at level one. According to the fuzzy TOPSIS results, “Senior Management Support (C6)”, “IoT Usage Culture (C1)”, “Business Model Development Capability (C15)”, “Financial and Investment Readiness (C12)” and “Technical and Infrastructural Readiness (C9)” ranked first to fifth, respectively. The combined results provide valuable insights for decision-makers and stakeholders involved in IoT implementation. By determining driver and dependent levels and ranking the criteria, industries can effectively prepare for the successful implementation of IoT.