Internet of Things
Internet of things or IoT is fast emerging as one of the most common buzzword in the tech and business world. But what is it that makes the vision for a Connected World so fascinating and inviting!

Well, we have moved over the dotcom revolution and are speeding away past the mobile revolution too. So what makes IOT all the more promising is the fact that it is still much unexplored; and considering the infinite accumulation of data - thanks to all tech revolutions businesses explored, INTERNET OF THINGS definitely makes business sense.

Building Smart Business with IoT

Infographic on IOT in Business

Infographics: Influence of IoT in business, Source: The Economist

The aforementioned study reveals that nearly 76 percent of executives participating in a survey have cited the implementation of IoT initiatives in their organization. And one of the prime reasons that makes Internet of Things the most sought after business priorities is the massive influx (terabytes) of data Companies are flooded with – barring their own assets – that of the surrounding environment that involves customers, prospects, partners and employees.

Therefore, it makes all the more important for Businesses to embrace Internet of Things to make business processes more simplified, accessible and SMART. And this is possible when you take strategic decisions to transform business with the inclusion of fresh investments in new “smart” assets.

Are IoT Strategies for your Business The Need of the Hour?

This is perhaps one of the most asked and debated questions of 2015. A recent report by Deloitte has revealed that 1 billion wireless IoT devices (approx.) will be shipped in 2015, which is up 60 percent from 2014 - leading to an installed base of 2.8 billion devices. Considering this statistics, it makes all the more important for Companies to create IoT strategies for business that are focused on confined scenarios.

It is inevitable that businesses can bank on creating breakthrough IoT strategies involving a small assortment of intelligent or connected devices. This will have the ability to solve longstanding as well as brand-new problems in innovative ways - tapping into prevailing sensor networks and equipment with embedded intelligence which have otherwise been unexplored.

Get the ‘Internet of Things’ Advantage for your Business

One of the many ways to realize your Company’s vision for the Connected World is to align your business strategies with IoT/M2M. The Internet of Things is mainly about going beyond control scripts, the pre-defined workflows and operating procedures.

IoT Workflow

At the same time, a few of the important points that need to be taken care of when implementing IOT strategies for your business are:

  • Make careful connections – Not just M2M (Machine-to-Machine), but with the layers between devices demonstrating how they connect, make conclusions, and take action.
  • IoT and Big Data are both unique and important as both are based on improvements in technology that conclusively drive business improvements. This calls for more FOCUS on catering to concrete problems with purposeful intent.
  • Create IoT strategies that are connected to measurable outcomes. So, if you are planning to gather more data and insights for your business just because you can do so, ensure what you are enabling can be visibly linked to enhance business processes.

Synopsis

With Companies supporting IoT beyond the modest collection of information and allowing a host of devices and signals deliver for the business, the focus shifts from the uniqueness of connected and intelligent things to business process and model transformation. More so, this can prove to be an asset for IT project managers, strategists and decision-makers to refine their approaches to understand the implementation of IoT to create greater value. So the takeaway for businesses should not be to create the Internet of (Every)thing; but create a viable network that is consciously chosen and decisively positioned.

The #InternetOfThings is HERE!

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About Author:

Vikas Mishra is Executive Director – Marketing at Hidden Brains InfoTech, a leading mobile, web and software development company. Vikas leverages digital technologies to drive competitive advantage and improve bottom-line results for clients. He is passionate about engaging with customer in the new connected world. You can follow him on Twitter, Facebook, LinkedIn.



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