“IN THE NEXT CENTURY, PLANET EARTH WILL DON AN ELECTRONIC SKIN. IT WILL USE THE INTERNET AS A SCAFFOLD TO SUPPORT AND TRANSMIT ITS SENSATIONS.” Niel Gross, Newsweek Online, 1999
The Internet of Things: Today, we live in an era of multiple connection models – people-to- machine, machine-to-people, machine-to-machine and people- to-people – that engage people, processes, data and machines in a bidirectional flow of information to enable brand new possibilities. Connecting information, people and things Since Neil Gross made this prediction at the dawn of the new millennium, we have changed the way things talk, the way we roam, and how we make predictions about our world. The role of the internet is evolving. The Internet of Content: In the The Internet of People: With the early stages, we saw a machine- advent of social networks, people- to-people model of connection, for to-people connections altered our disseminating content. notion of collaboration forever. In essence, the Internet of Things (IoT) is defined by the ability of machines to monitor, analyze, predict and truly automate business in real-time.
Changing business – and life – as we know it In 2013, there were approximately nine billion connected things on the planet. By 2020, that number is anticipated to skyrocket to at least 50 billion. With a seemingly infinite number of devices and array of sensors producing an infinite amount of data, software is playing an even more important role than hardware in making hyper-connected things smarter.
How will the IoT transform business? Integrated Level With the addition of predictive analytics, companies can deliver complete information based on new technologies that proliferate and aggregate sensor information, and apply predictive capability to deliver greater value to the enterprise. Actionable Level By adding ERP processes and workflow integration, companies are on the cusp of automating processes and achieving autonomous control of their assets. New Business Level Once companies truly embrace the IoT, new business models and processes will be created by a new generation of employees and partners for whom intelligent monitoring, real-time analytics and automatic process execution are the norm to address the needs of customers and society in general. The IoT is not a destination but a journey. As enterprises advance along the maturity curve, their IoT initiatives stand to increase the level of business value that is achievable. Offline Level Most companies today are at the start of the journey. They have traditional, imprecise processes with little or no asset information and a high cost of service. Monitoring Level As companies adopt some element of sensor technology, they benefit from monitoring connected assets but typically receive only fragmented information. They are able to run basic analytics and gain insights into their assets, but the model is still essentially reactive. Managed Level As companies add service capability to devices and assets, and expand workflows with mobile apps, they are able to effectively manage information and processes.