How enterprises can benefit from Internet of Things (IoT)

The catchy phrase ‘Internet of Things (IoT)’ or the ‘Web of Things’ has become inevitable to the modern world. Today wireless technology has reached its zenith making it possible to interact with the internet anywhere, any time. This has opened up a platform of more and more devices connecting to smart networks and interacting with humans and with each other through internet. What Internet of Things mean for your business? Though IoT is already upon you, it’s basically the organization’s ability to capitalize it.

Iot for business

What does this upcoming IoT mean for the business world? Let’s check out what steps business of all size should do to benefit from IoT and how IoT impact your business?

Network ubiquitous: Everything from phone, printers, manufacturing machinery to security systems should be designed to connect to the Internet. This will allow the business to keep up-to-date with the products, equipment’s and services they deal with. Network connectivity enables real-time checking of product characteristic and this can in turn boost customer satisfaction.

Remote mobile device management (MDM) : Completely remote mobile device management technologies will extend to the remote management of IoT devices. This will introduce tremendous changes for IT departments and IoT connected employees. This will help the organizations reduce equipment cost and increased employee satisfaction and efficiency.

Perfect Cloud plan: Companies need to take advantage of the cloud to help them develop a great customer experience and compete with larger enterprises. This can range from using cloud solutions to deal with incoming customer data to facilitating customer service interactions in the cloud

Remote connectivity: Business will largely benefit from being able to control components of the physical environment remotely Sensors and automatic control systems integrated into the objects enable business owners to gain insight on the condition and location of assets from anywhere.

Network Security:  Network security will become one of the most important aspects of business in the future, which makes sense because security is kind of the flip side of total connectivity. Investing in high-quality data security solutions that are scalable and robust will help your business.

Development of new and more collaborative business models: The emergence of permanently connected objects helps in creating open, collaborative model in the physical world. This collaborative innovation has the potential to go beyond new products and services to discover, design and develop ubiquitous systems in which innovation comes above everything, lowering cost of development, speed up development or commercialization.

Your organization may already have an Internet of Things mentality, but be more focused on these above implementation steps to bring big changes in your industry.

We, at Stylus apply IoT solution to drive business value and ultimately allowing ourselves to become an ‘Enterprise of Things”. Contact Us to know how we leverage IoT capabilities to increase efficiency, innovative product development, increase asset utilization, enhance the customer experience, streamline the supply chains etc

IoT-new opportunities and business challenges

IOT opportunities challenges

In today’s era of World Wide Web, ‘internet of things’ or the ‘web of things’ has become inevitable to the modern world. Let’s discuss major IoT opportunities and challenges that business creates in today’s world.

Machines will soon outnumber humans in the digital economy. This tremendous expansion in connected devices is definitely going to shape many opportunities for technology companies, enterprises, developers, investors, and start-up entrepreneurs. . Internet of things is largely influencing both individuals and organisations and also creating unprecedented opportunities for both. There are nearly 10 billion connected devices today, by 2020 it is expected that there will be 10 connected objects for each man, woman and child on the planet.

The connected world creates unprecedented opportunities, but definitely not without challenges.  IoT will introduce dramatic increase in the data volume whereas new challenges in the areas of security and fraud detection, high availability, data latency and scalability are highly expected.

IOT-CHALLENGES

With the future connection of billions of devices, definitely there will be real risks. The first challenge arise in the IoT adoption itself. Traditional inertia, budget priorities, risk aversion and other factors will prevent some companies from adopting IoT in the near future. Let’s check out the major challenge areas

Problems with data: IoT deployments will generate large quantities of data that need to be processed and analyzed in real time. Processing large quantities of IoT data in real time will increase as a proportion of workloads of data centres, leaving providers facing new security, capacity and analytics challenges

Security challenges: As companies depend more on machine-generated data for real-time business processes, ensuring that this data can be trusted will be essential. Companies must be able to detect rogue devices trying to interact with the IoT infrastructure both from device and network vectors. As the IoT connects more devices together, it provides more decentralized entry points for malware. Less expensive devices that are in physically compromised locales are more subject to tampering.

Network Risks: Inconsistent network availability is another major concern. The connected world introduces a number of new devices for real-time business purpose. But we can’t expect all the devices in the IoT fabric will be online 100% of the time. Connectivity problem affect adversely for those applications that require real-time data.

Privacy concerns: With remote sensors and monitoring a core use case for the IoT, there will be heightened sensitivity to controlling access and ownership of data

Integration Issues: With multiple platforms and large number of APIs,  IoT systems integration and testing will be a challenge. These confusions may result in a slow IoT adoption. Slower adoption and unanticipated development resource requirements will likely slip schedules and slow time to revenues, which will require additional funding for IoT projects.

Data storage investments: With all the billions of devices coming online, more and more data needs to be stored. To facilitate all of this data storage, new and big data storage need to be built in coming years

Though with security, interoperability and privacy remain as challenges to its full deployment, IoT win-wide as the upside benefit is too great to ignore. However, organizations that address these emerging challenges with a holistic approach can be better prepared to capture value from new opportunities and insights

IOT-EMERGING OPPORTUNITIES

Reliable data capture: The main advantage of the IoT-M2M paradigm is the ability to collect valuable data from many new sources-not just from within an enterprise but from beyond traditional IT boundaries.

Scalability for massive data: The volume and velocity of data generated within the Internet of Things will be orders of magnitude larger than what traditional systems can practically handle.

Extended visibility: visibility driven approach will help to come up with wise decisions and take appropriate actions. The more we can see, the more we can correlate information and apply intelligence to understand context. This will have broad implications for not only IT security, but also across the entire enterprise.

Improved asset utilization: With improved tracking of assets (machinery, equipment, tools, etc.) using sensors and connectivity, business can benefit from real-time insights and visibility into their asset and supply chain

Opening new revenue streams: Organizations can benefit from new revenue streams generated by new business models and services. IoT introduces innumerable opportunities for innovative services that can be offered using smart devices, machines and products.

The Internet of Things will have a dramatic impact on the way companies function. But to fully exploit the IoT opportunities, enterprises need to start considering how they will address new technical challenges as they fold increasingly intelligent devices into their existing IT landscapes.

As we move forward into an increasingly connected world, the IoT solution from Stylus Systems, will allow you to exploit new opportunities and unlock new levels of productivity.  We apply IoT solution to drive business value and ultimately allowing ourselves to become an ‘Enterprise of Things”. Contact Us to know how we leverage IoT capabilities to increase efficiency, innovative product development, increase asset utilization, enhance the customer experience, streamline the supply chains etc.

Internet of Things- for business success

internet of things

In today’s era of World Wide Web, wireless technology has reached its zenith making it possible to interact with the internet anywhere, any time. This has opened up a platform of more and more devices connecting to smart networks and interacting with humans and with each other through internet. Thus the catchy phrase ‘Internet of Things (IoT)’ or the ‘Web of Things’ has become inevitable to the modern world. In this post let us discuss the impact of Internet of Things on your business.

The Internet of Things (IoT) is the network of physical objects accessed through the Internet—essentially a “Connected Everything Platform.”   These objects contain embedded technology to interact with internal states or the external environment.

A surge in the number of ‘things’ connected to the internet is sure to affect the business in several ways.

Personalization: In an everything- connected world business will definitely benefit from being able to control components of physical environment remotely. Being more connected and more perceptible allows greater personalization of the services and objects around us, as well as greater access to information when it comes to making decisions. With IoT, organizations can better understand individual needs and requests resulting to ever more personalized services delivered in real-time.

Connectivity: With advanced technology that inserts a chip capable of internet connection to millions of objects and people around the globe, will allow the business to keep up-to-date with the products, equipment’s and services they deal with. The possibility of real-time checking of product characteristics and performance will result in customer satisfaction.

Optimization of things: Through the concept of largely connecting ‘things’ , business will largely benefit from being able to control components of the physical environment remotely.  Sensors and automatic control systems integrated into the objects enable business owners to gain insight on the condition and location of assets from anywhere.

Development of new and more collaborative business models: The emergence of permanently connected objects helps in creating open, collaborative model in the physical world. This collaborative innovation has the potential to go beyond new products and services to discover, design and develop ubiquitous systems in which innovation comes above everything, lowering cost of development, speed up development or commercialization.

Constant monitoring and real-time reporting: A category of IoT enabled services helps in the continuous monitoring and real-time reporting. This will lead to more accurate and more responsive strategies for business process

Though there’s vast potential for businesses to use the Internet of Things to increase productivity, better manage inventory and reduce wastage, the IoT also creates new security and privacy risks that organizations cannot ignore.  Along with its woes, IoT is growing fast. Years ahead will bring new opportunities in IoT that will change business models, technology investments and consumer experience.

Thanks for reading the post. Do follow our blogs for more posts on awesome IoT devices and solutions you need to know about.  We apply IoT solution to drive business value and ultimately allowing ourselves to become an ‘Enterprise of Things”. Contact Us to know how we leverage IoT capabilities to increase efficiency, innovative product development, increase asset utilization, enhance the customer experience, streamline the supply chains etc.