The IoT is set to be more disruptive and far reaching than many realise. If approached correctly, it can transform entire business models and lead to unprecedented competitive advantage. It can revolutionise customer experience, streamline operations, completely alter product and service design and deliver new business models and revenue streams.
IoT not only gives you a way to connect devices and gather relevant information from them, but also helps you practically apply that insight. For example, sensors and devices in delivery trucks can monitor driver safety, fuel efficiency, and route options. Gather all that information in real time and combine it with other data such as traffic patterns, diversions, and weather forecasts, and it could influence your routing decisions, keep your drivers safer, and save the company time and money.
IoT provides the connective infrastructure that lets you collect information from disparate devices, store it, visualise it, analyse it—and use it to make smart decisions.
The success of IoT requires certain conditions to be in place, notably overcoming a number of hurdles technical, organisational and cultural. Here are the essential enablers that will maximise IoT impact:
One of the basic requirements of IoT is to have the capacity for millions of devices, machines, and computers to talk to each other, sometimes across large distances. For this to happen, two types of technology are needed to create the infrastructure on which the IoT can operate: cheap, lowpower hardware and reliable connectivity.
The declining costs of microelectronics makes critical components more affordable. Sensor nodes not only need to be low-cost, but in many remote applications where they cannot be connected to an electrical service they will also need to consume little power.
Long-lasting batteries and local power sources can enable many IoT applications, such as monitoring remote equipment. Low-cost, low-power sensors are also needed in applications such as precision agriculture, where many sensors are necessary for monitoring soil moisture.
The true value of IoT comes in combining connected intelligence to deliver an overarching view, which will allow organisations to optimise operations, differentiate their services and enable new business models. Though challenges remain, these aren’t insurmountable and organisations are already starting to realise the benefits of the IoT, particularly in the industrial space.
Connected operations offer a diverse range of business benefits. Whether you are most interested in driving efficiencies or increasing flexibility, reducing waste or enhancing asset performance, a connected approach will likely deliver – and more. download the Insight Guide to answer these questions: