What is IoT:
One must need to Learn IoT, it’s features, utilizations, benefits etc. to update and cope up himself/herself in the contemporaryworld due to the fact that everything in our day to day life is going to be shared, monitored, and used trough IoT. As per sources figures of online enabled devices or in other word “IoT enabled devices” increased 31% from 2016 to 8.4 billion in 2017. A reliable scientific research reveals that IoT enabled objects will increase up to 30 billion by 2020, and the global market value of IoT will reach 1 trillion USD by 2020.
IoT stands for “Internet of Things” which means networking of physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, actuators, and connectivity which enables these objects to connect and exchange data. These objects can be anything, it can be medical devices like heart monitoring implants, biochip, transponders on farm animals, or cameras engaged in live feeds of wild animals in the Amazon forests or in coastal waters. It can be even automobiles with built-in sensors, or field operation devices which assist fire fighters in search and rescue.The objects in IoT can refer to things those we daily use in our homes like fridges and air-conditioners, electrical ovens in the kitchen, or anything that can be connected to software, sensors, actuators etc. as per the need of IoT. The legal scholars define “things” inIoT or in general terminology “objects” as “inextricable mixture of hardware, software, data and services”.
Brief History of IoT:
The concept of IoT evolved around 1982 when a modified coke machine in Carnegie Mellon University was embedded with the features of IoT and became the first internet connected object. Then the concept of IoT went through a series of discussions and research around the world. Mark Weiser’s paper on ubiquitous computing titled as “The Computer of the 21st Century” in 1991 as well as the efforts of Ubicomp and PerComp popularised the vision of IoP. Later in 1994 Reza Raji in “IEEE Spectrum” described IoT as “small packets of data to a large of nodes, so as to integrate and automate everything from home appliance to factories. Several companies including Microsoft’s “at work”, Novell’s “NEST” etc. came forward to propose solution on IoT between 1993 to 1996. At last in 1999 the IoT gathered momentum as Bill Joy presented his “Device to Device (D2D)” communication as part of his “Six Webs” framework, in the World Economic Forum at Davos in 1999.
IoT in Business:
IoT to enhance your business is neither more a new concept nor a strange and unknown effort. You just Learn IoT and put it in to practice in your business and get things go. Several business houses including LG and Nest have started manufacturing electronic devices or home appliances embedded with IoT. Let’s discuss a few business features of IoT to Learn IoTas well as to understand the benefits of IoT in business.
Intelligent Shopping System: Intelligent Shopping System or popularly known as “Retail Intelligence” by its specific tools and application focuses creation and management of knowledge through recollection, processing, interaction and analysis of information generated in all activities of a retailer. This can help the business through “internal variables” (range, space, pricing, promotions, staff, sales) and “external variables” (influence zone and its commercial mix) by analysing the behaviour of the buyers like pedestrian flow and magnitude, length of stay, occupancy, hotspots. etc. This will provide functioning of points of sale and the buyer behaviour in improving customer service and ultimately increase in business and profit.
Consumer Application:As the general public is already aware about the IoT and interested in IoT embedded appliances, the IoT embedded appliances have created a market demand. The IoT embedded appliances include connected car, entertainment, smart home devices, wearable technology, connected health, appliances like washer/dryers, robotic vacuums, air purifiers, ovens etc. Dealing with more IoT embedded appliances attract more consumers leading to enhanced business and profit boost.
Enterprise: The IoT terminology for IoT embedded enterprise is “Enterprise IoT” or “EIoT” which is already in use by established business groups. It has been estimated that by 2019 the EIoT will increase up to 40% or increase the IoT embedded devices to 9.1 billion.
Media: IoT in relation media enhancement is basically in relation to its marketing and consumer habits. Through behavioural targeting IoT collects actionable information of the consumers. By getting this information the media house presents advertisements in line with consumers’ known habits.
Infrastructure Management: This includes urban and rural bridges, railways tracks, even apartments etc. The IoT can benefit the builders and construction Industries by cost saving, time management, quality work day, paperless work flow, and ultimately increases in productivity.
Manufacture: IoT deals with manufacturing equipment, asset and situation management in Manufacture Industry. IoT helps in rapid manufacture of products, analytical response to product demand, and supply chain networks. IoT has proved to be playing a key role in manufacture industry.
It has been already established that IoT enormously supports the growth of business. The future business can never exist without IoT because the entire life living components and equipment of the entire consumer world is very soon going to be IoT embedded. Therefore it can be concluded that business without IoT is incomplete and if business houses who have not yet included IoT in their business should Learn IoT and include IoT to their business at the earliest.