Question

Research the Internet of Things. Provide a brief definition in your words what the Internet of Things is. Move off the first page of Google results and identify some interesting products or uses that a business may want to use to improve its efficiency. There may be some creative and innovative thinking here. If you want to work with someone, I am okay with that. Please identify whom you worked with.

Answer 1

The internet of things is about connecting digital devices through the internet and the data sharing that occurs among them. Internet during previous decades was about data created by people (internet of people).Now it is about data created and shared by things(internet of things).This connectivity can connect billions of devices and enable data sharing among them – essentially enabling communication among devices.

Business uses

• Driverless trucks will play a key role in future transportation and logistics
• IoT can help healthcare service providers can monitor patients from remote places with greater precision. IoT also helps real estate developers to build homes that are smarter with smart fridges, smart bulbs, smart fridge etc., and homes that are efficient in terms of saving water, power etc
• Agri-based business can use it to monitor crop and cattle, detect problems early and from remote locations.
• Improved data analytics- IoT will help to improve data collection and assortment helping businesses to analyses data for more insights and in turn, improve performance. This is useful in several sectors including manufacturing to identify repeating patterns of problems and inefficiencies in the value chain
• It helps to manage employee wellness and safety. Smartwatches help to collect and send data about employee health
• Automation of devices – e.g. automatic switch on and switch off – can be of great use in saving energy, especially in manufacturing and agriculture
• Managing inventory becomes much easier with the reduced involvement of human resources. With more information coming from products and components, supply chain becomes more efficient
• Rolls Royce uses such systems in its flight engines. This helps to track and predict flight maintenance issues. This leads to fewer delays for passengers apart from reduced keep fuel and operating costs
• IoT enabled devises and instruments can detect problem areas in consumer products early and report to companies resulting in time and cost savings
• IoT will also help in understanding and consumer behavior and more personalized marketing, resulting in huge savings in marketing spend