Internet of Things is the Future of Things

Date 31 Oct 2017
Posted in Web Development

IoT or Internet of Things is a game-changer. Although it has been around for years, it’s great potential to completely revolutionise the way we do business is growing as and when they are able to beat infrastructure challenges and invent new technologies to support it. 

At GR Imagine, we have been fascinated with IoT and look forward to the implications it has not only on doing business, but also its ability to one day create a seamless online and offline marketing experience. So here’s a quick lowdown on what exactly is IoT and why is it such a big deal! 

What is the Internet of Things? 

IoT or Internet of Things is a term that covers the process of connecting separate devices usually not connected to the Internet so that it could relay critical data to the company’s cloud for further analysis. 

Make ‘dumb’ machines ‘smart’ 

Although these machines are not dumb in any way, IoT allows a simple machine like a vending machine to send data about its inventory so that the marketer knows how well the product is selling and when does it need replacement.

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Get what you want from your devices 

It really depends on how you program your device to answer critical questions which will help you make data-driven decisions. 

Who benefits from IoT

  • Organisation with complex supply chains (helps save money and effort)
  • Marketers (unearths consumer trends and insights)
  • Quality Control Departments (no discrepancy as device is sending information and not human)
  • Customers (they will be getting better products and services in the future)
  • Company (get a general bird’s eye view of all the operations)

Reasons IoT is growing slowly

  • Expensive Infrastructure
    • Investment in large servers have to be made due sheer amount of data that the devices send
  • Security and Privacy Concerns
    • Consumers will take their time to really take to the technology as they need to be able to trust that the data will not be hacked
  • Data-handling capabilities
    • There’s so much data, yet if you don’t know how to apply it, most of it becomes useless 

Future of IoT 

  • Will be the largest device market in the world
  • By 2019, it will result in 1.7 trillion in value added to the global economy
  • Will need to create a common language for the plethora of devices so that it is beneficial for everyone 

Who’s already doing IoT sensors?

Raspberry Pi, Relayr's Wunderbar, and Intel's collection

IoT infra is expensive, so you can rent out the services

Amazon Web Services, Microsoft Azure, and IBM's SoftLayer.

 

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