The Internet of Things is the Next Frontier in the Digital Revolution
The Internet of Things (IoT) has arrived—and it’s here to stay—with its network of RFID tags, machines, appliances, smartphones, buildings, and many other devices with embedded technology that can be accessed over the Internet.
So what is IoT exactly? IoT is the concept of a seamless, all-encompassing and ubiquitous network of devices with the goal to facilitate smart co-ordination between the devices themselves as well as between the devices and human users. These devices are typically constrained devices such as sensors, but also more sophisticated ones like smartphones are considered part of the ecosystem. By accessing and processing the data that comes from these devices you can create enormous opportunities for your business.
“The Internet of Things (IoT) is the next frontier in the digital revolution. It can help companies increase productivity, cut costs, offer new products and services and deploy new business models,” the author (who goes only by Dell) writes in a piece called “Leveraging the Internet of Things for Competitive Advantage”.
IoT Technology is Large, Diverse and Growing in its Ubiquity
Across the world, everyday devices are getting connected to the Internet — thermostats, water meters, home alarms, kitchen gadgets, medical equipment, factory machinery and even cars.
“Collectively, this ecosystem represents the next frontier in the digital revolution — the Internet of Things or IoT. And unlike the simple automation of machinery, IoT is also mobile and virtual, and features a continuous Internet connection,” Dell writes.
The IoT landscape is large and diverse. In general you can categorize IoT use cases and applications into four areas, each with an increasing scope, from a single person to large entities:
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Personal IoT: the scope is a single person, such as a smartphone equipped with GPS sensor or a fitness device that measures the heart rate.
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Group IoT: the scope is a fairly small group of people, such as a family in a smart house, co-workers in a van or a group of tourists.
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Community IoT: the scope is a large group of people, potentially thousands and more; usually this is in a public infrastructure context, such as smart cities or smart roads.
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Industrial IoT: the scope can be within an organization (smart factory) or between organizations (retailer supply chain).
Why Should You, As a Business Owner, Care About IoT?
It’s clear that many businesses today are in the position to leverage IoT for a distinct competitive advantage.
“This isn’t just about money savings. It’s not about bridges, and it’s not about cities. This is a huge and fundamental shift. When we start making things intelligent, it’s going to be a major engine for creating new products and new services,” writes Daniel Burrus, one of the world’s leading technology forecasters and innovation experts, and founder and CEO of Burrus Research.
Click here to read more from this Wired article.
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