What is The Internet of Things (IoT)?
The Internet of Things is a network of physical objects such as vehicles, machines, home appliances, clothing, and more, that use sensors and APIs to connect and exchange data over the Internet.
What Makes IoT Possible?
IoT is made composed of various technologies including APIs that connect devices to the internet, Big Data management tools, predictive analytics, AI / machine learning, the cloud, RFID, and internet connectivity.
The Components That Make IoT Possible
IoT Platforms & Architecture
IoT platforms and architecture are usually cloud-based. They help companies connect and manage IoT devices. Such platforms manage connectivity, security, data collection, integration to backend systems, interoperability with other systems, and act as development and deployment platform for IoT applications.
Harnessing The Power of IoT Data
IoT devices generate a massive amount of data that needs to be analyzed and leveraged on the fly. This is where Big Data and predictive analytics come in. Machine learning and AI are also used to trigger computer-based actions.
Industrial IoT and M2M
In manufacturing IoT is referred to as the Industrial Internet of Things (IIoT). IIoT uses machine to machine (M2M) technology to support everything fro device monitoring to predictive analytics.
The Benefits of IoT
New Business Models and Revenue
IoT is disrupting existing business models and creating massive opportunities for companies to create new services based on real-time sensor data. IoT enables new processes and applications such as product replenishment, subscription services, mobile apps, and more.
Operational Efficiency
One of the biggest benefits of the IoT is the efficiency it can offer. Many companies are using it to automate business and manufacturing processes, remotely monitor and control operations, optimize supply chains, conserve energy, and increase safety.
Workforce Productivity
Wearables and other IoT-enabled devices increase workforce productivity and increase employee satisfaction. IoT enables employees to improve decision making, automate routine tasks, increase communication speed, increase employee safety, and reduce stress.
Enhanced Customer Experiences
IoT offers many ways to create more compelling customer experiences across digital and physical worlds. With IoT we are able to integrate customer service with actual product performance and usage, deliver highly personalized products and services, and reduce product and service breakdown.
IoT Use Cases in Key Sectors
The Internet of Things is having a profound impact on many different industries and businesses. It is most significant in the transportation and automotive industries.
Automotive
Car manufacturers and tech companies are using the IoT to prevent car collision, provide driver assistance, predict maintenance issues, and much more. IoT and machine learning are the underlying technologies that enable self-driving cars.
Transportation
Intelligent transportation systems are moving people and cargo all over the world. Thousands of IoT sensors are used on planes, trains, ships, and vehicles to optimize the transportation industry. This includes monitoring engine performance, safety, container movement, car movement, and pretty much the whole whole supply chain.
