What is the Internet of Things (IoT)? IoT is a network of physical objects – computing devices, mechanical and digital machines, vehicles, machines, home appliances, and more – that use sensors and APIs to connect and exchange data over the Internet. IoT depends on a whole host of technologies – such as application programming interfaces (APIs) that connect devices to the Internet. Other key IoT technologies are Big Data management tools, predictive analytics, AI and machine learning, the Cloud, and radio-frequency identification (RFID). IoT is disrupting the long-established business models and creating enormous (and exciting) opportunities for organizations to create new services based on real-time sensor data and information.
Right now, Convverge is actively working with clients to implement Microsoft Azure IoT technology. So why should your organization adopt the Internet of Things?
Imagine knowing you need to fix your equipment before it fails, that’s the power of IoT. Your IoT devices are the key to unlocking valuable insights and data within your organization. But before you can leverage these assets, they need to be connected. By integrating your devices, you open your business to endless opportunities, such as how to optimize operational efficiency, innovate, increase workplace safety, save energy, and much more.
Here are 6 ways that IoT can help transform your organization:
- Increase Business Opportunities – IoT helps companies benefit from new revenue streams developed by advanced business models and services. IoT-driven innovations build strong business cases, reduce time to market and increase ROI’s.
- Make More Efficient Processes – Being connected with a maximum number of devices to the internet, IoT allow organizations to be smarter with real-time operational insights while reducing operating costs. The data collected from logistics network, factory floor, and supply chain will help reduce inventory, time to market and downtime due to maintenance.
- Increase Productivity – Productivity plays an important role in the effectiveness and profitability of any organization. IoT improves labor efficiency, offers just-in-time training for employees, and reduces mismatched skills while increasing productivity.
- Enhance Asset Utilization – IoT will improve tracking of company assets (equipment, machinery, tools, etc.) using sensors and connectivity, which helps organizations benefit from the real-time insights. This allows organizations to more easily locate issues in the assets and run preventive maintenance.
- Improve Safety and Security – IoT services integrated with sensors and video cameras help monitor the workplace, to ensure equipment safety and protect against physical threats. The IoT connectivity coordinates multiple teams to resolve issues promptly.
- Increase Cost Saving – Many companies are using it to automate business and manufacturing processes, remotely monitor and control operations, optimize supply chains, and conserve resources. The improved asset utilization, productivity, and process efficiencies can save your company expenditures.
What about Security?
IoT is an exciting concept which allows for unlimited opportunities and connections to take place, many of which we can’t even think of or fully understand the impact of today. While IoT opens the door to a lot of opportunities, it’s also prone to many challenges.
Microsoft has committed to investing $5 billion (USD) in IoT research and the intelligent edge—adding new services and features to Azure IoT, but also driving business strategy and executive leadership discussions to define success in the age of intelligence. Nearly all companies have security concerns when adopting IoT. But, with implementation on the rise – especially among critical industries like healthcare – security must be addressed from the beginning for both devices and networks. Internet connectivity is a two-way street. It’s more important than ever to address security in every layer because IoT devices provide digital access to home and work networks – and the sensitive data stored there.
At Convverge, we know it’s not easy to drive that kind of transformation on your own. As industry experts, we have the resources and knowledge to help make your transition a smooth one. Contact us today to find out how we can help you integrate the Internet of Things into your business.