& The Internet Of Things (IoT)
The term Internet of Things generally refers to scenarios where network connectivity and computing capability extends to objects, sensors and everyday items not normally considered computers, allowing these devices to generate, exchange and consume data with minimal human intervention. There is, however, no single, universal definition.
These ‘things’ are being combined with Internet connectivity and powerful data analytic capabilities that promise to transform the way we work, live, and play. Projections for the impact of IoT on the Internet and economy are impressive, with some anticipating as many as 100 billion connected IoT devices and a global economic impact of more than $11 trillion by 2025.
Why would your business need connected devices?
The concept of combining computers, sensors, and networks to monitor and control devices has existed for decades. The recent confluence of several technology market trends, however, is bringing the Internet of Things closer to widespread reality. These include Ubiquitous Connectivity, Widespread Adoption of IP-based Networking, Computing Economics, Miniaturization, Advances in Data Analytics, and the Rise of Cloud Computing.
Connecting all the intelligent devices in your business gives you a centrally integrated data store allowing for data analytics and real-time snapshots of your business outcomes with an accuracy and scale never seen before.
With the projections and trends towards IoT fast becoming reality, it is forcing a shift in thinking about conventional business models in a world where the most common interaction with the Internet comes from passive engagement with connected objects rather than active engagement with content.
SCAD can help you make the transformation!
Low–cost, high–speed, pervasive network connectivity, especially through licensed and unlicensed wireless services and technology, makes almost everything “connectable’’.
Widespread adoption of IP–based networking
IP has become the dominant global standard for networking, providing a well–defined and widely implemented platform of software and tools that can be incorporated into a broad range of devices easily and inexpensively.
Driven by industry investment in research, development, and manufacturing, Moore’s law continues to deliver greater computing power at lower price points and lower power consumption.
Manufacturing advances allow cutting-edge computing and communications technology to be incorporated into very small objects. Coupled with greater computing economics, this has fueled the advancement of small and inexpensive sensor devices, which drive many IoT applications.
Advances in Data Analytics
New algorithms and rapid increases in computing power, data storage, and cloud services enable the aggregation, correlation, and analysis of vast quantities of data; these large and dynamic data-sets provide new opportunities for extracting information and knowledge.
Rise of Cloud Computing
Cloud computing, which leverages remote, networked computing resources to process, manage, and store data, allows small and distributed devices to interact with powerful back-end analytic and control capabilities. .