The Internet of Things or IoT is a technology that allows organizations to monitor every element of their operation in real-time and generate business insights that lead to increased efficiency and productivity. The technology is finding its way into various industries and business practices, providing all kinds of benefits.
In short, IoT technologies connect all devices, processes, and assets into one centralized artificial intelligence system that finds new ways to optimize the operation. Let's see how IoT solutions help improve business decisions and go over the benefits they provide.
In short, IoT is a network that connects all dedicated devices into one system. After IoT sensors are placed on every asset, they generate real-world operational data and send it to a central system. Here are a few examples of how this technology works:
Homeowners can also use the technology for security purposes. When IoT sensors are placed across a property, they can also help improve home management allowing owners to manage appliances and lights.
IoT sensors are also widely used to monitor traffic conditions and public transport in large cities. Traffic control uses the data to optimize traffic and find ways to reduce traffic jams.
IoT technology can optimize any supply chain production plan, and it also provides access to accurate real-time monitoring. IoT solutions rest on a few concepts applicable to almost any process. Here's a quick overview of the key concepts of IoT solutions.
Companies and large enterprises make business decisions by analyzing a heap of documents, presentations, images, graphs, videos, and other forms of digital information. However, such an effort takes time, and the results are rarely 100% accurate.
On the other hand, IoT generates real-world data from assets across the entire system. IoT sensors generate operational data such as temperature, vibrations, efficiency, etc. The data is always accurate, and it allows businesses to monitor every element very closely, increasing their control over internal processes.
Another significant difference between traditional data management and IoT systems is immediacy. Instead of using months-old data to gather helpful information, organizations can now collect and analyze data in real-time. Of course, proximity depends on various factors such as connectivity and network bandwidth, but once set up. As a result, the system can help optimize operations much faster and with higher accuracy.
Most IoT projects are a part of a larger business purpose or process. They are usually a part of a control loop that works with simple cause-and-effect objectives. For example, let's say that an IoT sensor tells a homeowner that his doors are unlocked. A particular type of device called an actuator can receive a signal from the owner allowing him to lock the door remotely.
These are just some of the concepts that IoT technology can provide. When applied to large operations and business organizations, the same approach can transform the entire process thoroughly. However, the key here is to connect all devices to a system that collects and analyzes large amounts of data.
These large projects usually include other big data technologies such as machine learning and artificial intelligence that learn how a system works and find better ways for optimizing processes. Of course, implementing IoT solutions into an existing system doesn't come without challenges. Here are some of the problems you will have to overcome for the system to work correctly.
Like any other project, adopting IoT technologies comes with a few significant challenges you have to overcome for everything to work. The first challenge is finding people with IoT expertise who know how to implement the technology into various standards. Even though these technologies offer unprecedented flexibility in design, every project is unique and requires a lot of data analytics and testing.
When the system is up and running, it will generate a mountain of data, so creating a storage and retention system is the next challenge. IoT data is time-sensitive, so it must be processed and stored in real-time. That means that you'll need significant capital investment to secure enough storage capacity and ensure that it's kept safe and sound.
Next, since all sensors are connected to the same network, your connection must have a reliable bandwidth. Joining too many sensors to a single system can lead to data loss and high latency. In addition, you might have to make changes to the network to ensure that it can cope with this new technology. Lastly, managing so many devices and ensuring that every sensor is installed and calibrated correctly can also take a lot of time and effort. One wrong move can lead to a logistical nightmare, so you must secure all of the tools needed for routine maintenance and repair efforts.
Before we get to the details of implementing IoT solutions, know that every project is unique. There are some general instructions we will go over below, but every IoT adoption is customized according to available technologies and unique operations. Here are some of the most important considerations when implementing IoT.
IoT devices can be connected in multiple ways, including Wi-Fi, 4G, 5G, and Bluetooth. The best approach is to choose one connectivity type and use it as a standard for all connected devices. That will make it easier to configure and monitor all devices, as using a multitude of different connections will only complicate things.
If all of the IoT data is sent directly to an analytics platform, the results won't be very useful and could lead to poor performance. That's why you need an intermediary platform or an IoT hub, as it's also known, to reorganize incoming data, prepare it for analytics and encrypt it to increase security.
Once all the data is collected and preprocessed, you can use it to create detailed reports and prepare them for deeper analysis. But, first, you'll need to choose the best software tools for processing and visualizing data to help increase your ML model's accuracy. You can get these tools from a local data center or one of many specialized SaaS solutions.
You'll also need a software tool designed for maintaining and deploying IoT devices throughout the entire project. The ideal software has multiple automation features and collaborative tools to help streamline communication between managers. It's also essential that the system is updated every time a problem is encountered, so your team should pay close attention to the system at all times.
As IoT devices are connected to the internet, they are vulnerable to cyber-attacks. That's why you should ensure that the IoT configuration and integration process includes security features that detect malware attacks and prevent them from reaching the central hub.
IoT solutions are still in their earliest stages, so it's hard to say where the technology will lead in the future. As more and more enterprises adopt this technology, it will become more flexible and less complicated. The emphasis will surely be on increasing security and finding new ways to use the data generated by IoT solutions. We expect to see this technology become the standard across many industries soon. Contact us and join the revolution!