Question

Explain IOT and provide three examples and applications of this technology in Business

Answer 1

IoT (Internet of Things) :

Iot is essentially a platform where embedded devices are connected to the internet, so they can collect and exchange data with each other. It enables device to interact, collaborate and learn from each other's experience just like humans do. IoT applications are expected to equip billions of everyday objects with connectivity and intelligence. It is already being deployed in various domains namely : Wearables, Smart Home Applications, Health Care, Smart Cities, Agriculture, Industrial automation.

Applications of Internet of things in Business :

Airline : An equipment tracking application provides an airline's engineers with a live view of locations of each piece of maintenance equipment. By increasing the efficiency of engineer's this IoT application is not only generating significant cost savings and process improvements, but also impacting the customers experience in the end through more reliable, on-time flights.

Pharmaceutical : A medication temperature monitoring application uses sensors too detect if the medication's temperature has gone outside of the acceptable range and ensures medical supplies still meet quality standards upon delivery. The handling temperatures are medications, vaccines are examples, is critical to their effectiveness. IoT based applications can be used to monitor that medications are kept within proper handling temperature range, but also to remind patients when its time to take their medication.

Manufacturing : A lighting manufacturer for the horticulture industry built a Smart Application that leverages IoT sensors and predictive analytics to perform predictive maintenance and optimize lighting power consumption and plat photosynthesis. The IoT applications transformed their business from a lighting systems manufacturer to a greenhouse optimization as -a-service business.

Industrial Automation : This is one of the fields where both faster developments, as well as quality of products are critical factors for a higher return on Investments.With IoT Applications, one could even re-engineer products and their packing to deliver better performance in both cost and consumer experience.

Applications in Industrial Automation :

1. Smart tracking
2. Notifies users on deviation in deliver plans
3. Creates digital factories
4. Improves Line-of-command in work units
5. Logistics and Supply chain automation
6. Packaging optimization
7. Quality control