INTERNET of THINGS

What is Internet of Things?

The internet of things(as it’s also known, IoT) is an idea that tech companies and pundits have been discussing for decades, and first internet connected toaster was unveiled at a conference in 1989.

When we consider IoT it’s about connecting devices over the internet, applications, letting them talk to us, and each other. The IoT is significant because an object that can represent itself digitally becomes something greater than the object by itself. No longer does the object relate just to you, but is now connected to surrounding objects and database data. When many objects act in unison, they are known as having "ambient intelligence."

Why is the Internet of Things important?

You might be surprised to learn how many things are connected to the Internet, and how much economic benefit we can derive from analyzing the resulting data streams. Here are some examples of the impact the IoT has on industries:

• Intelligent transport solutions speed up traffic flows, reduce fuel consumption, prioritize vehicle repair schedules and save lives.
• Smart electric grids more efficiently connect renewable resources, improve system reliability and charge customers based on smaller usage increments.
• Data-driven systems are being built into the infrastructure of "smart cities," making it easier for municipalities to run waste management, law enforcement and other programs more efficiently.

But also consider the IoT on a more personal level. Connected devices are making their way from business and industry to the mass market. Consider these possibilities:

• You’re low on milk. When you’re on your way home from work, you get an alert from your refrigerator reminding you to stop by the store.
• Your home security system, which already enables you to remotely control your locks and thermostats, can cool down your home and open your windows, based on your preferences.

“To make the Internet of Things useful, we need an Analytics of Things. This will mean new data management and integration approaches, and new ways to analyze streaming data continuously.”

Thomas H. Davenport

Co-founder and Director of Research, International Institute for Analytics

Author of Competing on Analytic and Big Data at Work

How it works

In IoT discussions, it’s recognized from the onset that analytics technologies are critical for turning this tide of streaming source data into informative, aware and useful knowledge. But how do we analyze data as it streams nonstop from sensors and devices? How does the process differ from other analytical methods that are common today?

In traditional analysis, data is stored and then analyzed. However, with streaming data, the models and algorithms are stored and the data passes through them for analysis. This type of analysis makes it possible to identify and examine patterns of interest as data is being created in real time.

So before the data is stored, in the cloud or in any high-performance repository, you process it automatically. Then, you use analytic to decipher the data, all while your devices continue to emit and receive data.

With advanced analytic techniques, data stream analytic can move beyond monitoring existing conditions and evaluating thresholds to predicting future scenarios and examining complex questions.

To assess the future using these data streams, you need high-performance technologies that identify patterns in your data as they occur. Once a pattern is recognized, metrics embedded into the data stream drive automatic adjustments in connected systems or initiate alerts for immediate actions and better decisions.

Essentially, this means you can move beyond monitoring conditions and thresholds to assessing likely future events and planning for countless what-if scenarios.

image courtesy: dreamstime.com

IoT benefits

The connected world will impact consumers and the business world alike. For instance, it changes how customers and companies come together. Instead of just meeting at the point of sale, the relationship becomes a continuous interaction, which lasts as long as the customer keeps using a product and the corresponding services.

Private users of connected devices will see the new services enriching their relationship to the products, providing higher quality of life, comfort, security, and fun. Corporate users of these services will benefit from efficiency gains, cost savings, and better allocation of resources.