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Add value. Predict trends. Be proactive.
The Internet of Things (IoT) is the concept of inter-networking connectable devices (things) to the internet, and/or to each other.
These ‘things’ can be smartphones, household appliances, business devices like printers, cars, buses, planes, watches, headphones, through to machinery. Basically, any device embedded with electronics, software, sensors, actuators, and network connectivity is capable of collecting and exchanging data through the internet – and becoming part of IoT.
According to Gartner, a world-leading analyst company, there will be over 26 million connected devices by 2020. And that’s regarded by some as a conservative estimate.
The business value of IoT
IoT is just the beginning of the value chain.
While having a device talking to the internet is all very exciting, it has no business value unless you capture the information it sends you, and transform it into valuable insights. With no human intervention, the data received from the device is never wrong, or bad, you’re just getting the facts. Once you apply proactive trend analysis and break fix analysis, you’ll have a much greater understanding of your ‘things’ and use the information it provides you to deliver more value to both the enterprise, and ultimately your customers.
What does this mean in real terms?
For one of our customers, an Australian public rail facility, it means always knowing how their boom gates at level crossings are behaving. Using IoT, they know when the voltage delivery to a boom gate is wrong, if the gate is staying down or up for too long, or if the alarm bells aren’t working. Any of these user-defined thresholds triggers their system to recognise there’s a problem, automatically generate a work order in their ERP and despatch a crew to fix the problem. All without human intervention.
IoT enables businesses to analyse incoming data and fix their ‘things’ proactively, not reactively. Fusion5….SHANNON - WHAT’S OUR VALUE PROPOSITION HERE??? EXPERIENCE ETC
IoT is just the beginning. It has no business value unless you capture the information it sends you, and transform it into valuable insights.
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