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How to Develop an Internet of Things Strategy – The Future of IoT Technology

Posted on July 18, 2018 at 6:22 pm

Before developing the Internet of Things strategy, we need to know that what actually the internet of things is? The answer is simple, IoT is the network of the physically existing objects or devices, automobiles, building etc., and they are embedded with the electronics, sensors or the software chips that make these objects able to collect and exchange the data. IoT allows the objects to remotely sense or control the infrastructure of the existing network. IoT applications are found in many industries today because of the number of qualities like it work faster and smarter; it owns powerful triggers and remote access over objects.

Developing an Internet of things strategy:

Our business infrastructure is transformed from different silos to the internet-connected devices, and the devices connected to the internet are increasing day by day. From the explosion of information, executives want to take much advantage of the growing number of connected devices. The Internet of Things IoT might present the best and biggest opportunity for enterprises since the internet age. One research shows that there will be almost 20 to 40 billion devices connected to the internet by 2020, and these providers’ revenue increased to 300 billion dollars. That device obviously includes computers, Mac, tablets, cell phone, and TV devices. The remaining will be other kinds of “things” actuators and sensors. It may also include newly developed and intelligent devices that monitor, analyze, optimize and control our world as well.

The researchers are working on IoT for the last many years but now it is just hitting its top point. The transformative shift for our economy and finance is presented by the Internet of things, same as the introduction of PC. IoT has opened a wide range of new business opportunities for various businessmen and entrepreneurs.

IoT strategies fall into 3 broad strategies, and each reflects a specific enterprise. These 3 strategies are:

Enablers: enablers are the companies that are technology-oriented, like Google, IBM, Cisco and Intel that develop and implement these technologies.

Engagers: Engagers are the designers and creators that integrate and deliver IoT services, like Apple, Home kit, Tags, Sensory etc. to the customers.

Enhancers: They plan their personal value-added services over the top of that services that are provided by Engagers, and that are unique to the IoT such as Progressive Snapshot.

Now here we discuss the top and best strategies to develop the internet of things.

Set Objectives and Business case:
First of all, we have to decide the objectives of our business. Define your business goals and setups. Look at that objects where the opportunities can be built by connecting devices and objects. You also have to take care about how machine data benefits us from the different sources. Also determined that how the devices and different sensors can shrink the different expenses regarding operating to improve working and create a timely decision. High cost operating telecoms have to find the way to reduce the expenses of the logistics and other bills.

Internet of things is beneficial for all type of industries like manufacturing, insurance utilities, healthcare, transport, and much more. IoT has many financial benefits like new revenue generation from the new products, increased the utilization of different resources and reduce the different costs. Its operating benefits include remote management of asset and reduce downtime, auto replenished inventory when the stock is going out, and also preserve the unattended assets because of asset automation, and the most important customer benefits include the prediction of customer requirements, faster response to the query and requirements and best customer experiences as well.

Right and Best Platform Selection and Solutions Providers:
The selection of the right platform is very necessary for the best results. Running multiple systems with different solutions creates complexity. Many experts recommend partnering with the best IoT platform that may offer you the complete framework of all of your requirements.

If you are choosing the Internet of Things for the model of your business, choose the right partner. A wide range of (mid-size to large) enterprise software vendors are entered in this market in last year’s, and they are offering the products of IoT, but some of them are offering the complete package to solve the objectives of IoT. But, if you don’t have a complete platform, you might have to depend on the different partners to build and market IoT services, and its main disadvantage is that it will increase the cost and complexity of the integration of the system as well. The different Internet of things solution presents the functional products for the sake of monitoring of address, developing the application, billing etc. when you are choosing the platform of IoT focus on API to facilitate the integration with the third-party system and robust tools to make application development quick.

Integration and Test:
The internet of things is all about integration that includes sensors, edge devices, gateways and enterprise system etc. The main challenge is to integrate all of the components of IoT in the one system and that is the promise of applications of IoT. Due to the standards of communication and diverse protocols, unlocking the potential of intelligent things is very difficult.

The application of the Internet of things needs a lot of time and resources to start from scratch, but the architecture of IoT with multiple API can simplify the task among the heterogeneous instances. API is very important for the innovation because they make developers able to build the applications quickly. Many companies can take advantages of this architecture of IoT because it spans a great range of vertical marketplaces.
Deployment:

Internet of things core asset is a sensor data. It is really a challenge when those sensors generate a large amount of data, analyze it and derive the real-time insights of that data. As the number of devices and the devices types might change in the future so you have to prepare your business to handle the variety of data and magnitude.

The complicated and complex data is needed to transform the volume of data in the business intelligence from the functional point of view. It is very critical to unlocking the strong data analytics for daily decisions regarding the business. To shape the huge and large volume of unorganized and unstructured data, the analytics module or Hadoop are considered. This data is generated from the diverse sources of data for the agile environment of business. Moreover, it is very complicated to use IoT platform for a huge amount of data against data-driven business.

Managing and Maintaining of Remote Assets:
You don’t have to worry about the big data while managing your remote assets, because data mobility and clouds are now integrated into your architecture of internet of things. Now you can control your assets by receiving the notifications and other alerts from the mobile apps in case of deviation of connected devices.

For example, you can get the pre-alerts as the manager of the tower may receive the real-time updates regarding the fuel status of the generator. Same like that, the built-in sensors act as a connectivity hub to connect the environment. However, the internets of things solutions are more valuable with they are integrated into mobile apps also.

The Future of the Internet of Things:
The devices on the internet are growing day by day. Now, it is not about the laptops, tablets, cell phones or other desktop computers but, it is about a multitude of the internet connected devices. Our daily used devices like the toaster, washing machine, robotic vacuum cleaners, many toys etc are also becoming very smart. The science is not fulfilling its fiction stories and start showing us the miracles of science where the devices are becoming as smart and easier to operate as well. The customers of that products are loving these inventions and crazy about them. We have now a new term for the devices that are connected to the internet as the Internet of things.

The Future of IoT:
The future of IoT is very crazy and will be full of new inventions, experts make many predictions about the future of the internet of things and here we discuss some of these.

Number of connected devices to the internet in 2020:
According to the predictions of the experts, it is estimated that there shall be almost 20-30 billion devices that are connected to the internet in 2020. According to the research, there were almost 5 million devices that are connected to the internet in 2015, and in 2016 this figure increase to 3.9 billion that means the figure went in billions from millions in a single year.

What a change it is??

More people and cities will become smart:
There are not only the consumers who are using the internet of things devices. The cities, companies or individuals always try to become more smart and efficient in every manner and save time and money. All people have started adopting smart technologies in their daily lives. Cities will be also able to remotely manage and collect the data by means of visitor kiosks etc. The individuals have involved the new technology in daily life like the washing machine or robotic vacuum to make their lives easy and comfortable.

Artificial Intelligence will really become a thing:
Your household devices like coffee makers, lighting systems, thermostats etc all collect the data from your habits and way of usage. The voice controlled devices used to store data in the cloud after each recording, and all the data that is collected is for the purpose to facilitate the user and that is called ML, machine learning. ML is the type of learning in which machine learns without having a single line of code or program. These types of computers are programmed in such a way that they learned the received data. Now, this collection of data help the machine to learn about your preferences and then adjust it.

More secure and smarter routers:
Since these devices are inside the home, and the security systems are not installed in them, so there is a chance of attacks. As the craze of the IoT is increased in the market, many manufacturers are working to quickly launch their product in the market, and that’s why in some cases security can become the second priority.

The routers are the internet entry point in any house, and because the connected devices are not protected by themselves but the router has the ability to provide security and avoiding the attacks. Today’s normal routers just provide the password and firewalls protections as well as the ability to configure on specified devices in our network. A router doesn’t come with the installed security software and that means that malware can still attack.
One way to avoid these attacks is the Norton core router, it is the first high performance and secure router. It is built to prevent the attacks and protect the connected homes or devices. This router is available at some places as pre-order.

Building and Home Automation:
The Internet of Things will offer a wide range of innovative IoT technologies that includes the monitoring and control of the intelligent homes and buildings. It helps to enhance the security and reduces the different costs like energy and maintenance costs. By using IoT, you can access and control light and temperature. It also offers the optimization of energy and maintenance costs.

IoT Applications in Business:
The Internet of Things application will be much involved in the business in the future. Those who all use IoT solutions are gaining many advantages from the technologies. Better health, better workforce productivity, and service delivery are the three main benefits of the deployment of solutions of IoT.
On the other hand, IoT uses new and updated technologies to provide business in the industrial area. It provides real opportunities to increase the revenues and lower the costs as well. The Internet of Things provides the efficient use of energy that includes data insights because smart machines are more consistent and accurate in terms of communicating data. It may also offer the visibility of the entire chain. If it is correctly implemented, it provides the exact knowledge to the manufacturers about the product and demand of customer and it leads to efficiency and quality control.

IoT applications in Healthcare:
IoT applications will be implemented in the healthcare department to prevent various ailments and provide on-time treatments to the patients. Remote and real-time monitoring of patients means that fewer visits to the hospitals and doctors. Its major benefits are that it will help to detect the diseases in the early stages that the treatment will be given on time. The outputs/reports are data-driven and they will be more accurate. We can expect a few errors or misdiagnoses and this leads to the reduction of resources, money and time, and the efficient and best treatment will be provided to the patient.

So what does the IoT hold? We will continue growing, we are still in the early stages but we will see the societies and business go forward just by connecting things. This leads to the quality of life and sensor technology will play the major role in all this. The Bernard Marr said that IoT devices aren’t so much about the smart devices (tablets, phones, and pc) but the sensors. Sensors can be attached to anything to sense, record and send data back to the cloud. This will allow the business to improve by collecting specific feedbacks.

Read the Industrial Internet of Things Guide-IIoT 2018>>