The Internet of Things is the concept of our daily routine objects varying from industrial machines to wearable devices – using built-in sensors to gather data and act on that data across a network.
The IoT allows objects to be sensed or controlled remotely across existing network infrastructure, creating opportunities for more direct integration of the physical world into computer-based systems, and resulting in improved efficiency, accuracy and economic benefit in addition to reduced human intervention.
Why is Internet of Things important?
You might be surprised to learn how many things are connected to the Internet, and how much economic benefit we can derive from analyzing the resulting data streams. Here are some examples of the impact that IoT has on specific industries:
- Healthcare: Many people have already adopted wearable devices to help monitor exercise, sleep and other health habits – and these items are only scratching the surface of how IoT impacts health care. Patient monitoring devices, electronic records and other smart accessories can help save lives.
- Manufacturing: Data-collecting sensors embedded in factory machinery or warehouse shelves can communicate problems or track resources in real time, making it easy to work more efficiently and keep costs down.
- Retail: Both consumers and stores can benefit from IoT. Stores, for example, might use IoT for inventory tracking or security purposes. Consumers may end up with personalized shopping experiences through data collected by sensors or cameras.
- Telecommunication: The telecommunications industry will be significantly impacted by the IoT since it will be charged with keeping all the data the IoT uses. Smart phones and other personal devices must be able to maintain a reliable connection to the Internet for the IoT to work effectively.
- Transportation: The IoT also impacts transportation on a larger scale: delivery companies can track their fleet using GPS solutions. And roadways can be monitored via sensors to keep them as safe as possible.
- Utilities: Smart meters not only collect data automatically, they make it possible to apply analytics that can track and manage energy use. Likewise, sensors in devices such as windmills can track data and use predictive modelling to schedule downtime for more efficient energy use.
IoT − Key Features, Source- Web
There are many features and areas where IoT is based and can be applied. Some of the most important features of it include network connectivity, artificial intelligence, sensors, and Internet of Everything.
- Network connectivity: New enabling technologies for networking, and specifically IoT networking will bring simple, automated, intelligent, and secure IoT connectivity from edge to the cloud.
- Artificial intelligence: AI is the core of IoT. It is all about sensors embedded into devices of all kinds, which provide streams of data via internet connectivity to one or more central locations. The five key functions of it are to Sense, Transmit, Store, Analyse and Act.
- Sensors: The major base for IoT is sensors and its programming. IoT loses its distinction without sensors. They act as defining instruments which transform IoT from a standard passive network of devices into an active system capable of real-world integration.
- Internet of Everything: The ‘Internet of Everything’ is built on the foundation of the ‘Internet of Things’ by adding network intelligence that allows convergence, orchestration and visibility across previously disparate systems.
IoT – Advantages
The advantages of IoT span across every area of lifestyle and business. Here is a list of some of the advantages that IoT has to offer −
- Enhanced Customer Engagement − Current analytics suffer from blind-spots and significant flaws in accuracy; and as noted, engagement remains passive. IoT completely transforms this to achieve richer and more effective engagement with audiences.
- Improved Technology Optimization − The same technologies and data which improve the customer experience also improve device use, and aid in more potent improvements to technology. IoT unlocks a world of critical functional and field data.
- Condensed Waste − IoT makes areas of improvement clear. Current analytics give us superficial insights, but IoT provides real-world information leading to more effective management of resources.
- Greater Data Collection − Modern data collection suffers from its limitations and its design for data collection. IoT breaks it out of those spaces, and places it exactly where humans really want to go to analyse our world. It allows an accurate picture of everything and keep our data safe.
Future for IoT
The internet landscape is growing at an exponential rate. It’s not just about computers, laptops, tablets and smartphones anymore but everything that is connected to the cloud and its new term could be Internet of Everything (IoE)
- By 2020, it is estimated that there will be up to 26 billion connected devices.
- More cities will become ‘smart’: Smart parking, Water Management, Intelligent Transport System and Smart connected networks for efficient monitoring
- Better Decision Making: If you can analyse larger trends from empirical data, you can make smarter decisions and thus new revenue opportunities