Internet of Things (IoT) is becoming an increasingly talked about phrase on the internet and within the corporate world. So, what does it mean exactly, and how is it transforming the way companies do business?
Putting it simply, Internet of Things is the process of connecting physical ‘things’ such as buildings, clothing, vehicles and even bee hives to the internet through ‘smart devices’ such as sensors. In effect, these tools are collecting information from objects and transmitting the results online for real-time interpretation and analysis, whether that be to a desktop or hand-held device.
According to IoT General Manager at IBM, Chris O’Connor, ‘Analysts project IoT data to yield insights driving potential economic value of as much as $11 trillion by 2025’, and while we currently have 9 billion connected devices, ‘estimates of how many devices will be connected to the Internet of Things by 2020 range from 20 billion to 200 billion.’
As you would have observed with our Honey gift over the festive season, IoT Technology has even enabled bees to thrive by transmitting data from hive sensors, such as temperature, weight and activity to electronic devices, thereby enabling beekeepers to act on any disruptions within the bee’s environment. This is Data Driving Decision Making.
How can Tridant help?
There are essentially 3 key components to ensuring your business gets the maximum amount of value from IoT. We can assist in:
- Connecting sensors to relevant technologies, integrating privacy and security and using Predictive Analytics to maximise output from your data.
- Enhancing decision making capability by having an enterprise wide solution that allows continuous learning and constant adaptation.
- Bringing your data sources together, identifying patterns and relationships between your unstructured and enterprise data and providing recommendations via cognitive technologies.
It is no doubt that information derived from these sensors will continue to enrich our existing knowledge base and uncover insights that can ultimately transform the way people do business. If you’ve just begun exploring your IoT journey, Tridant is here to help you get started. To learn more or identify possible opportunities for your business, please contact us on 1300 737 141 or email us at email@example.com today.