Article by one of our Subject Matter Experts
The Internet of Things (IoT) has been hailed by many as the most promising emerging technology of our time. In a nutshell, IoT refers to the interconnection of devices and gadgetsto collect, transmit and store data. This is not restricted to simply smartphones and tablets; IoTembraces a wide variety of devices including cars, thermostats, lighting, and wearables.Through the IoT, devices can exchange data in real-time for analysis and action, A study by ITresearch firm Gartner estimated that 26 billion computers, phones, and connected deviceswould be in use by the year 2020. As the technology develops, IoT solutions will possibly change the way we work and live in the future. In particular, businesses will be able to leverage IoT technology to collect valuable data, stay ahead of the competition and drive innovation.
IoT and smart sensor technology enables us to manage this issue efficiently. With smart waste management systems, authorities will be able to predict the amount of waste produced in a particular location, how to process properly, trigger clearance of waste and analyze data for future planning etc.… Example: smart sensors implemented on trash bins can send alerts to the waste management system once the bin is full (or reached threshold limit). If the waste quantity in the bin is low, it will not be emptied. With analytics solutions, an overview of waste generated in every part of the city, how much
waste is generated in duration can be easily assessed. This information will be used to plan during the city expansion and upgrading projects. Fleets for waste collection and treatment can be managed and any changing trends can be predicted via smart analytics solutions.
One of the basic components of big data analytics is the data itself; many organizations consider data as most valuable asset to grow their business strategies. The source of data could be from anywhere like machines, environment, plants, peoples or even animals.
Internet of Things uses hundreds of types of sensors designed to collect data from wide range of applications. Huge amount of data from millions of smart sensors will help big data analytics to improve its decision making algorithm using artificial intelligence and machine learning
What is the Internet of Things (IoT)?
In the simplest terms, the Internet of Things (IoT) represents all computing devices that are connected to the internet. It can be described as a network of responsive devices and everyday objects that wouldn’t necessarily be thought of as communicating with the internet like wearables, industrial machinery, motion sensors, and more. These devices are embedded with environmental sensors and other technologies that enable them to collect and exchange data without human intervention.
Originally, the industrial and automotive sectors were some of the first pioneers in IoT, connecting their machines to talk to one another and report back with potential failures or overloads. Usually in the industrial sector, IoT is named Industrial IoT or in the shorter
Like any other emerging technology, IoT brings an entirely new set of challenges to an enterprise. For those companies prepared to integrate some form of IoT into their organization, there remains a level of confusion around IoT standards, policy, and governance. While IoT shows promise due to the number of devices that are connected, that’s also a potential detriment to the viability of its security. The more devices there are, the more likely there will be a security breach. The sheer volume of devices is alarming.
What is secure today, might not necessarily be secure tomorrow. And that’s a major concern in terms of IoT devices. Imagine hackers being able to access (or even control) a smart car, your wireless router, potentially turn off a heart monitor, or change the rhythm of a pacemaker, as scary as that sounds. A more connected world means one security glitch is all it could take to impact personal data privacy or bring down an enterprise’s security and hold the business hostage.
The Future Of IOT
The future of this cutting-edge technology within the enterprise is going to be very interesting, to say the least. Intelligent companies that explore IoT may realize the significant business advantage. For instance, a third-party logistics outfit can use IoT plus new streams of data and analytics to optimize routes driving down the cost of doing business and increasing operating margins.
However, like any nascent technology, the risks are inherent. The issue will start to evolve from the need to address the challenges outlined above, from what do these things look like, and where are they located, to how can the individual or the organization get the information to an application or a system that’s meaningful?
Through connection, integration, and maintenance, how businesses choose to create worthwhile interactions with their data will determine whether the Internet of Things is successful or not.
For the majority of organizations, IoT remains unknown territory. And going forward, companies must be able to manage these devices and all the data in a responsible, well-governed way in order to minimize risk and fully capitalize on the true potential.
Internet of Things can drastically reduce overhead and lower a business’ expenses. At the same time, IoT will increase efficiency by allowing an enterprise to take advantage of a new business function. For instance, organizations can benefit from knowing exactly how much they need and when in terms of inventory. IoT devices can be used to track 7-eleven Slurpee® machines or McDonald’s beverage stations.
IoT provides better inventory management, which means fresher food gets delivered, and the food is easier to track.
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