The internet of things is a network of mechanical and digital objects including people, animals, PC, mobile laptop and all devices that have the ability to make human-to-human or humane to PC connection. A thing in the internet of things can be a living or a non-living object.
An automobile that works to alert the person who is driving. The build in sensors informs the driver if tire pressure is low or the machinery isn’t working well. Man-made objects can transfer data over an organized network in order to operate complicated tasks.
Business organizations are using the latest technology of IoT to make bigger tasks simpler and to do them without much of human efforts. With the help of latest IoT devices employees better understand customers, fulfill their needs efficiently and can customers can create new info and technology ideas.
It improves decision making through artificial intelligence. Using man-made objects tech experts can now assign IP addresses to digital devices and transfer big data to increase the value of a business.
History of Internet of Things
History of IoT is amazing. The person who first mentioned the term IOT was a co-founder of the Auto-ID Center, Kevin Ashton. Ashton wanted to bring radio frequency ID also called RFID, to the attention of the senior department, that is why he named his presentation as the internet of things in 1999.
Neil Greenfield, a MIT professor presented the same concept with a different name. Internet of things has been evolved by internet connecting wireless technologies, micro elector mechanical systems, internet and lots of micro services.
This convergence helped in removing the distance between operations technology and information technology. Now OT and IT experts can analyze unstructured data for getting information to improve the system.
Ashton introduced the term of IOT but he said nothing about connected devices. The idea of connecting devices has come around the 1970s. Coke machine was the first internet appliance in the early years of the 1980s. The machine was made to determine whether the cold drink is ready or not.
Basically, internet of things evolved from machine to machine communication such as fridge connected to stabilizer without human interaction.
All modern day electrical and mechanical equipment such as TV, storage tanks and fridge are a common example of M2M communication. To performs tasks effectively these devices, transmit data through the build in radios.
Making use of such build in integration of radios and devices prove that M2M communication is reliable and secure for commercial, business, residential, and medical purposes.
Examples of M2M communication
Traffic control system is one of the typical fields of a machine to machine communication. Experts use sensors in any kind of traffic control system for checking speed and volume of the traffic.There are high-quality software for sending the details of the traffic system through a computer and regulate devices such as information about lights and traffic signs. Using this inbound information, software control the traffic flow. Researchers are trying to use the technology of machine to machine communication to make devices for identifying the condition and infrastructure of freeways and bridges in order to prevent any mishaps.
How big is the Internet of Things?
Internet of things is getting bigger and bigger. The number of connected devices are more than the total population of this world. According to analyst Gartner, around 8.4 connected devices in 2017 were in use which will possibly reach 20.4 billion by 2020. The investment in IoT services will reach more than $2tn in 2019. More than half of these billions of devices will be common consumers products like PC, smart speakers, mobile, TV, iron, vacuum cleaner, hair dryer, automatic stove, heater, Voice controlled AC, cars, bike and more. The most used business device will be security cameras and electric meters.
Security in Business
M2M communications providers security for business companies. It plays an important part in monitoring and controlling the supply of all kinds of enterprises. The information related to a variety of products is saved through computers systems to help a business grow without any fear of negligence or burglary.
IoT Unites installed Base by Category
We see patients wearing specialized monitors to collect information related to the working condition of a heart. Implanted electronic devices receive data from the specialized monitor and give shocks to the patients for the removal of any type of unusual rhythms.
Business Benefits of the Internet of Things
According to research, by 2020, there would be almost 2.5 billion connected people on social networking sites and will be utilizing billions of connecting tools and gadgets. This hyper-connectivity will drive $65 trillion in global business.Business today is evolving in a new shape with the latest business to business communication as millions of companies are connecting their supplies to make the system simpler and easier.IA helping employees creating new information and technology ideas for understanding customers.
Business people want to make a strong connection between customer and partners to seamlessly engage in leveraging technologies and commerce. The system will help make a connection between 100’s of millions of people and things together. Internet of things is the catalyst for starting a massive connectivity in business. We can analyze, monitor, automate and controls things in a variety of ways that will create new and unique models and business ideas to please customers just by linking the formation process to cyber-physical systems. Cyber-physical systems help in giving a new touch to old models and analyzing processes.
In a recent survey of business executives, SAP discussed the areas of investment, essential aspects, and concern that exist in this era when finding the go-forward path for the Internet of Things in their respective organizations. We will first review the business benefits identified of deploying IoT. IoT is not restricted to simply smartphones or tablets, it embraces such a wide variety of devices including thermostats, lighting, and wearable.
Through IoT devices and gadgets transfer data between living and non-living things. A study says that 26 billion PC, phones, and other connected devices would be commonly in use by the year 2020. The technology might change the way we see and work in this world.
Our living style will become different. A lot of gadgets and devices will take place, and more people would do the job of controlling robots. Here are some advantages business organizations are getting through IoT.
Reduction of Operating Costs
New devices, analytics, and apps reduce costs and maintain a competitive advantage in order to create better products, and fulfill the demands of customers. Devices and gadgets and be used to monitor equipment and system to analyze failures or predict misalignments on the production line. Such strategies can save energy, cost and time and improve efficiency and probability of smart building to control unnecessary usage of electrical powers.
Understanding the Consumers' Behavior
Iot helps in understanding the behavior and needs of customers through digital memory and sensors. Understanding the preferences of customers is the key to success especially in retail sector. AI can be used to create a high IQ digital mind to collect, monitor, analyze and predict data from video surveillance, mobile, and internet usage, social media and then using then creating a better product in accordance with customers needs. Using such method organizations will be able to foster brand loyalty by retaining their target consumers.
Improve Productivity and Enhance Efficiency
The first goal of business companies is to maximize production and efficiency for getting high profit. IoT technology can help in creating/manufacturing sectors with less human effort and time. It manages various stages of creativity and production through real-time raw materials and tracking parts.
Business employees can easily collect data of past workers in order to collect data, make reports and work accordingly to eliminate the chances of any lose. IoT enables automatic functions such as thermostats and coffee making machines.’
Improve Safety in the Workplace
Internet of things provides a safe environment for employees through cameras, sensors and electronic devices which reduces the risk of any theft or physical harm to employees. It helps employees encourage working in high-risk environments like mining and construction of big industries.