Internet of Things - Asked and Answered
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The Internet of Things (IoT) refers to the interconnection of everyday objects to the internet, allowing for real-time data collection and operational intelligence for businesses. Key benefits include enhanced decision-making capabilities, cost savings, and process efficiencies, particularly in industries such as manufacturing. However, challenges such as data management, security risks, and the need for suitable infrastructure must be addressed for successful IoT implementation.
Internet of Things - Asked and Answered
- 2. Internet of Things – Asked and Answered
- 3. The ‘internet of things’ has been a buzzword of sorts for the last couple of years. What are we actually talking about when we talk about the internet of things?
- 4. The Internet of Things (IoT) is the interconnection of internet-aware devices, systems and services. In its simplest form, the Internet of Things (IoT) means everyday objects will be connected to the internet. These capabilities will allow organisations to have real-time intelligence about all of their critical assets: what they are, and what is their condition. The IoT is a giant network of connected “things” (which also includes people). It is the relationship between people and people, people and things, and things and people.
- 5. How big/what sort of role is cloud playing in its development?
- 6. The cloud is a crucial element of an IoT solution. All current business data and supply chain events must be visible both internally and through the cloud for the solution to be most accurate and successful. As mobility has grown and benefited from cloud computing, similarly cloud will boost the computational capabilities of the big data analytics systems and also provide anytime, any device, anywhere access to the device and information.
- 7. What are the advantages of the internet of things to business?
- 8. When it comes to proactive decision making, having access to accurate business intelligence in near real time is vital – an IoT solution provides this advantage to businesses. IoT-enabled businesses are using the solution to streamline process driven tasks where instantaneous feedback and control are essential. This deep visibility is allowing industries to eliminate inefficiency within their businesses.
- 9. Are there savings to be made by adopting IoT?
- 10. There are saving to be made by adopting IoT. But before that can happen, organisations need to have a thorough understanding of the impact of an IoT strategy. Making an organisation a smart organisation is a massive undertaking; that requires extensive research, and preparation. But the correct IoT solution can generate massive savings by saving time and resources and opening up new opportunities for growth and innovation.
- 11. What industries (if any) is the IoT most valuable to?
- 12. In the manufacturing industry, supply chains span geographical regions and depend on a web of suppliers, distributors and planners. Each link in the supply chain can create inefficiencies and cost challenges that ripple throughout the logistics, warehousing, and manufacturing process. Making operations more efficient especially when related to energy and labour costs, not only requires visibility into individual processes, but also interconnectivity and visibility across the entire business ecosystem. Manufacturers have materials arriving at multiple sites from suppliers around the world. Likewise, their finished goods ship to retailers and consumers globally. This creates additional logistical visibility requirements that must be met to avoid additional costs, long lead times, and poor customer service. Achieving the visibility goal calls for solutions that reduce IT complexities connects legacy devices, and that are truly mission- critical ready.
- 13. What challenges are presented to businesses with IoT?
- 14. Companies also have to rethink how they collect and analyze information. The Internet of Things is a data machine. Businesses will need to learn to adapt a new form of data intelligence, and the amount and type of information produced by IoT may require new or expanded roles for data analysts, strategists, and even customer service. An IoT deployment is similar to any other complex set of technology – but with potentially more moving parts. Planning, integrating, and testing the eco-system and ensuring that it is mission critical ready is no easy task. Specifying and connecting sensors and actuators to the Cloud in a standard, uniform way is difficult because device manufacturers often use protocols and firmware optimized for that particular device. This complexity is often a barrier to success, and adds risk and costs.
- 15. Are there security risks? How can they be addressed?
- 16. Security must be at the forethought of every IoT solution. With increased implementation of IoT solutions, vulnerabilities will continue to develop and measures need to be taken to ensure these are resolved swiftly. As with any software security threat it is important to have a reliable development team that are capable of finding the vulnerability and countering it fast before any breaches can happen.
- 17. What are the key motivations of businesses seeking to take advantage of the IoT?
- 18. Businesses are looking for seamless, rapid, simple ways to create visibility throughout their value chain without massive multi- year IT deployments. Organisational leaders are struggling to do more with less and be more productive. They crave not only smarter ways to track and manage assets but also gain in-sights from big data that can drive new, breakthrough ideas.
- 19. In what way is IoT disrupting things?
- 20. IoT is poised to impact business in many different ways, none of which are necessarily disruptive. Instead of being a disruptive force we would consider it an enabling force. IoT involves the merging of the online world with the physical world. This gives us a greater control and a greater insight into how our world works. This understanding facilitates growth and change in all aspects of business.
- 21. What are the biggest trends in terms of IoT?
- 22. We are seeing an increased trend in the need for additional network capacity. About 50% of all companies will be forced to adapt their IT networks to accommodate immense increases in data traffic. As businesses grow and adapt to IoT it is becoming more and more apparent that company networks are not adequately prepared for the tidal wave of data that is predicted. We are also noting the current trends in relation to hardware. Advanced microcontrollers, system on chips, and sensor technologies are enabling new types of IoT devices. These devices are also getting smaller, smarter, and cheaper.
- 23. For more information on the Internet of Things please do not hesitate to contact us!