What is IOT?
Internet of things (IOT) is the inter-networking of physical devices, vehicles (also called "connected devices" and "smart devices"), buildings, and other items embedded with electronics, software, sensors, actuators, and network connectivity which enable these objects to collect and exchange data.
IOT is an ecosystem of connected physical objects that are accessible through the Internet. The ‘thing’ in IoT can be a person with a Heart, Monitor or an Automobile with built-in-sensors, i.e. objects that can be assigned an IP address and have the ability to collect and transfer data over a network without manual assistance or intervention. The embedded technology in the objects helps them to interact with internal states or the external environment, which in turn affects the decisions taken.
What is the Scope of IOT?
Internet of Things can connect devices embedded in various systems to the Internet. When devices/objects can represent themselves digitally, they can be controlled from anywhere. The connectivity then helps us capture more data from more places, ensuring more ways of increasing efficiency and improving safety and IoT security.
IoT is a transformational force that can help companies improve performance through IoT analytics and IoT Security to deliver better results. Businesses in the utilities, oil & gas, insurance, manufacturing, transportation, infrastructure and retail sectors can reap the benefits of IoT by making more informed decisions, aided by the torrent of interactional and transactional data at their disposal.
How can IOT help?
IoT platforms can help organizations reduce cost through improved process efficiency, asset utilization and productivity. With improved tracking of devices/objects using sensors and connectivity, they can benefit from real-time insights and analytics, which would help them make smarter decisions. The growth and convergence of data, processes and things on the Internet would make such connections more relevant and important, creating more opportunities for people, businesses and industries.
It can make possible the automation of many daily chores. IoT encourages the communication between devices, also famously known as Machine-to-Machine (M2M) communication. IoT is monitoring.
IoT is tagging our day-to-day objects with machine-readable identification tags. Sensors may be a couple with these tags to collect more information about the condition the everyday objects and those present around them. The same applies to various companies wherein the computers would keep track of the stock available and resources and maintain them to optimum levels, thus saving a lot of time and money.