Harness the value of IoT to connect the World

The Internet of Things (IoT) is quickly evolving and now feels like living in a sci-fi movie. IoT is everywhere – you name the industry, you name the country, you name the city – it is all prevalent. Few countries like Canada and Dubai have been the forerunners in the adaptation of technology by implementing IoT trends and solutions in all walks of life. IoT in Canada and Dubai are cases in point of how well advanced the technology is and how it can be used to benefit the citizens and provide them with a comfortable life.

While the power of IoT in the real world seems like a dream come true, how many of us are willing to implement this in our day-to-day lives? Is it the fear of the unknown? If so, here are a few Q&As to boost your confidence in this recent trend:

  • What do you mean by harness the value of IoT?

With information being the top most sought after weapon, possessing data is the foremost task for any business owner. With the whole world being connected by devices, tracking and collating data is a Herculean task. However, with IoT devices and sensors, significant amount of data is captured and stored on the cloud.

  • IoT is useful only when the data collected makes sense. How do we go about that?

IoT has been integrated with data analytics to process large datasets and provide actionable data to facilitate decision making. The representation of data can be in any form – pie charts, bar graphs, tables, any form the user wants the data in.

With the data printed in a readable format, understanding the what’s of business becomes easy. Once you know where and how a business runs, predictive analysis becomes easy. This helps you anticipate scenarios likely to occur and helps you plan in advance. This also helps create business goals based on the analysis of the data, leading to better decision making.

  • Is there only one way to harness the data using IoT?

No, with IoT there are always multiple channels for each task. Real time data is streamed and collected from in-motion devices using streaming analysis. Spatial analysis is used for stagnant devices, like in smart parking applications. For time sensitive information, for example health monitor information, time series analysis is used to collect data at different time points to reach a conclusion.

  • Are there any unwarranted issues while using IoT?

There are no major threats, but the advantages are numerous:

  • IoT gives you an edge over your competitors. With a large pool of data at your disposal, your outcome will become better, thereby boosting your brand image
  • With increased image and brand awareness comes increased sales, thereby boosting revenues
  • Remote monitoring is one of the most advantageous while using IoT. Resources can now monitor remotely and take the required action
  • IoT sensors and devices help track and maintain inventory, delivery packages and warehouses without having to allocate extra resources

IoT is the first step to your digital transformation. Many industries across the world have already adapted to IoT and have proven benefits of maximizing efficiency and productivity. The pace of change on the trends is rapid and businesses have to adapt to the recent trends to stay in focus. Start with IoT today to leverage the power of digitization and overcome the challenges faced!