IoT (Internet of Things) is an advanced automation and analytics system which exploits networking, sensing, big data,
and artificial intelligence technology to deliver complete systems for a product or service. These systems allow greater
transparency, control, and performance when applied to any industry or system.
IoT systems have applications across industries through their unique flexibility and ability to be suitable in any environment. They enhance data collection, automation, operations, and much more through smart devices and powerful enabling technology.
IoT systems allow users to achieve deeper automation, analysis, and integration within a system. They improve the reach of these areas and their accuracy. IoT utilizes existing and emerging technology for sensing, networking, and robotics. IoT exploits recent advances in software, falling hardware prices, and modern attitudes towards technology. Its new and advanced elements bring major changes in the delivery of products, goods, and services; and the social, economic, and political impact of those changes
AI: IoT essentially makes virtually anything “smart”, meaning it enhances every aspect of life with the power of data collection,
artificial intelligence algorithms, and networks.
Connectivity: New enabling technologies for networking, and specifically IoT networking, mean networks are no longer exclusively tied to major providers. Networks can exist on a much smaller and cheaper scale while still being practical. IoT creates these small networks between its system devices.
Sensors: IoT loses its distinction without sensors. They act as defining instruments which transform IoT from a standard passive network of devices into an active system capable of real-world integration.
Small Devices: Devices, as predicted, have become smaller, cheaper, and more powerful over time. IoT exploits purpose-built small devices to deliver its precision, scalability, and versatility.
Technology Optimization: The same technologies and data which improve the customer experience also improve device use, and aid
in more potent improvements to technology. IoT unlocks a world of critical functional and field data.
Enhanced Data Collection: Modern data collection suffers from its limitations and its design for passive use. IoT breaks it out of those spaces, and places it exactly where humans really want to go to analyze our world. It allows an accurate picture of everything.
Reduced Waste: IoT makes areas of improvement clear. Current analytics give us superficial insight, but IoT provides real-world information leading to more effective management of resources.
Customer Engagement: Current analytics suffer from blind-spots and significant flaws in accuracy; and as noted, engagement remains passive. IoT completely transforms this to achieve richer and more effective engagement with audiences.
Security: IoT creates an ecosystem of constantly connected devices communicating over networks. The system offers little
control despite any security measures. This leaves users exposed to various kinds of attackers.
Compliance: IoT, like any other technology in the realm of business, must comply with regulations. Its complexity makes the issue of compliance seem incredibly challenging when many consider standard software compliance a battle.
Flexibility : Many are concerned about the flexibility of an IoT system to integrate easily with another. They worry about finding themselves with several conflicting or locked systems.
Privacy: The sophistication of IoT provides substantial personal data in extreme detail without the user's active participation.