Technology is playing a critical role in reshaping business operations by integrating smart systems to optimize processes, empowering the customer engagement and enhancing the products. Internet of Things (IoT) platforms have a big hand behind transformations of various businesses with the capability to collect quality and valuable insights through the data generated from connected devices. IoT has emerged as a powerful technology with its broader implementation in businesses and households, but it needs a little improvement to continue its smooth execution.
Delivering consumer value:
A clear view of the problem statement is an essential need for a successful IoT implementation strategy. Most of the service providers lack in providing these services to the customers. They must first recognize the impact of these solutions based on efficiency, productivity and consumer satisfaction for driving long-term business growth. This whole cycle requires reviewing of past collected data. Understanding consumer’s need and problem statements are essential for IoT vendors and consultants to identify the critical performance indicators to improve their services.
According to a study by Gartner, more than 25% of cyber attacks in organizations will include IoT by 2020. With the increase in demand for smart gadgets and applications, the concern for security has been increased proportionally. another survey conducted by consulting firm, Bain and company, 45% of IoT users are concerned about the security and consider it as an important hurdle hindering the use of IoT devices. Everyone is aware of the critical IoT security-related issues, but new IoT devices in the market with high computational power and embedded advanced security solutions have allowed organizations achieve desired outcomes. These new hardware devices with low power microchips serve better execution of security protocols and applications in IoT environment.
Visit Innovation Enterprise’s DATAx Shanghai on September 5-6, 2018
Real time data connectivity:
Data connectivity is vastly improved in past few years with the introduction of edge and fog computing technology for IoT services. However, there still exist few areas which count IoT implementation as the biggest challenge in their environment. These phases include IoT devices providing an open communication to gateway and cloud data. Generally, the gateways are compatible with local area network, wifi, GPRS etc., but IoT devices are dependent on a programmable logic controller, remote terminal units and other telemetry or positioning systems to produce information.
These connected devices collect data and transfer it to a central admin system for further acknowledgment. But the demand for edge computing has increased since it eliminates the unused information at node edge by analyzing and processing collected data with the power of machine learning and analytics. Thus, only useful structured or unstructured data is sent back to the cloud for storage or further processing delivering real time output. However, the concept of edge computing is not yet widely adopted since, but continuous improvement and enhancement in IoT technology is promoting its implementation.
People are showing their interest in the machine learning, artificial intelligence and analytics to leverage complex tasks. One can go through the Online Artificial Intelligence Training Course to boost their analytical and decision making performance. Here, you’ll master regression
Critical business operations:
Companies are using enterprise mobility platforms for real time information processing through handy devices remotely. The cross-platform for executing mobile application powered by its integration with IoT and cloud-driven analytics solutions provide valuable real time insights on the phone. This information assists an organization and its customers in the accurate decision making in real-time. This kind of solution is implemented in a smart metering solution for recognizing water consumption patterns. Operating these critical tasks over a smartphone is beneficial, but IoT demands more effort to automate maximum operations in industries and home without any hurdles.
Similar open protocol integration for maximised compatibility:
The most common challenge faced by innovators, IoT expertise and users is the variability in IoT based protocols. Various IoT vendors use different protocols for data transfer and communication. Due to the fact, most of the IoT hardware and software suite are not compatible with each other. Defining one universal protocol for the whole system aims to allow users to understand and innovate the technology quickly.
Various factors are influencing the accurate decision-making phase of organizations. Many big companies and service providers have already overcome these obstacles or challenges and successfully implemented IoT enabled solution in their enterprises.