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The Internet of Things: Definition, Driving Forces, and Benefits

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Page 1: The Internet of Things: Definition, Driving Forces, and Benefits
Page 2: The Internet of Things: Definition, Driving Forces, and Benefits

WHAT IS IOT?It is a system of interrelated computing

devices, mechanical and digital machines,

objects, animals or people that are assigned

with unique identifiers (or IP addresses)

connected to the Internet.

A thing, in the Internet of Things, can be a

person with a heart monitor implant, a farm

animal with a biochip transponder, an

automobile that has built-in sensors to alert

the driver when tire pressure is low.

It has the ability to transfer data over a network

without requiring human-to-human or human-

to-computer interaction for remote control,

automation, data gathering, and measuring.

Page 3: The Internet of Things: Definition, Driving Forces, and Benefits

THE IOT HAS THE POTENTIAL TOGROW GLOBAL CORPORATE PROFITS

BY 21% IN 2022.

THAT TRANSLATES TO10,000,000,000,000,000,000,000

BYTES OF DATA OVER18,200,000,000 CONNECTIONS.

Page 4: The Internet of Things: Definition, Driving Forces, and Benefits

FORCES BEHIND IOTRapid growth of social media, cloud &

mobile computing, Big Data,

increased processing power, and

many others.

Transition from IPv4 to IPv6 removes

the barriers to connectedness.

Acceptance and deployment of IoT in

businesses.

Page 5: The Internet of Things: Definition, Driving Forces, and Benefits

B E N E F I T S O F I O T

BETTER DECISIONMAKING

It will generate real-time datathan ever before. Businesses

depend on these data to makebetter decisions to stay

competitive.

Businesses need to have a planto process and analyze these

huge quantities of data totranslate bigger revenue for

them.

Page 6: The Internet of Things: Definition, Driving Forces, and Benefits

OPERATIONAL EFFICIENCY& PRODUCTIVITY

IoT generates real-time datafrom sensors to monitor andenhance process efficiency,reduce human intervention,and decrease energy costs.

All data obtained can beutilized to minimize downtimedue to maintenance, inventory,

as well as time to market

B E N E F I T S O F I O T

Page 7: The Internet of Things: Definition, Driving Forces, and Benefits

B E N E F I T S O F I O T

BETTER SAFETYAND SECURITY

IoT services integrated withsensors and video camerashelp monitor workplace to

ensure equipment andemployee safety and protect

against physical threats.

In measuring and managinghazardous equipments orenvironments, connected

machines can refrain puttingpeople at risk.

Page 8: The Internet of Things: Definition, Driving Forces, and Benefits

INCREASE BUSINESSOPPORTUNITIES

IoT opens the door for newbusiness opportunities and

helps companies benefit fromnew revenue streams

developed by advancedbusiness models and services.

IoT-driven innovations buildstrong business cases, reduce

time to market and increasereturn on investments.

B E N E F I T S O F I O T

Page 9: The Internet of Things: Definition, Driving Forces, and Benefits

B E N E F I T S O F I O T

COST SAVING

The improved asset utilization,productivity, and processefficiencies can save your

expenditures.

For example, predictiveanalytics and real-time

diagnostics drive down themaintenance costs.

Page 10: The Internet of Things: Definition, Driving Forces, and Benefits

ENHANCED ASSETUTILIZATION

IoT will improve tracking ofassets (equipment, machinery,tools, etc.) using sensors and

connectivity, which helpsorganizations benefit from

real-time insights.

Organizations could moreeasily locate issues in theassets and run preventive

maintenance to improve assetutilization.

B E N E F I T S O F I O T

Page 11: The Internet of Things: Definition, Driving Forces, and Benefits

THE INTERNET OF THINGS IS THE NEXTSTAGE OF THE INFORMATION REVOLUTION.

IT OPENS A WIDE ARRAY OF POSSIBILITIESTO ENHANCE THE QUALITY OF LIFE IN ALLASPECTS. BUT IT IS ESSENTIAL THAT WETAP ON THE RIGHT SPOTS TO MAKE THISTECHNOLOGY WORK THE BEST FOR US.