You’ve Gathered Data from the Internet of Things, Now What?

It is 2020 and the Internet of Things isn’t just a new technology that has just emerged. While some business professionals considered it just a fad about a decade ago, the others capitalized on this expanding technology and are making massive profits out of it by this time. This means we are not just at the threshold of IoT--we are already a part of the fascinating world of it. Therefore, now is the right time for the question you must ask: how you can utilize it to add value to your business?

IoT can help to enhance the value of what your business does well and also provide entirely new ways to serve your existing and new customers. To create IoT business value, it is essential to understand the required steps:  Sense, Infer, and Act.

Sense: Capturing the Data

This is where we get in data that tells us what’s going on using IoT devices. In the mining industry, for example, a sensor can be as simple as using an inventory tracking solution to obtain data about machine condition and performance. However, obtaining the data just isn’t enough--we need to be able to make sense of and analyze it by applying analytics and understanding the broader context of the data. Let’s talk about how we’re going to do that in the next step.

Infer: Processing the Data

In order to make sense of the massive amount of data our IoT sensors collect, we need to combine the readings from those sensors and convert them into something useful. The most beneficial thing to do is to send this data to some facility where we can look at the data points, process them, put them in context, and gain some new insights. This usually happens in the Cloud, and the output can be presented in different forms, such as plain text files, charts, spreadsheets, or images.

Act: Take Immediate Action Based on Data

Now we have our data and insights, we should take some action. Supported with accurate, real-time data, we can immediately improve productivity and create new business values at the same time. For example, we can provide logistic drivers with the best route, help a line manager to optimize production, or remotely operate devices in the field, and support autonomous operations.

New Opportunities for New Business Models

While the obvious use cases for IoT revolve around efficiency, productivity, and process monitoring, we need to recognize its ability to provide us with information about customers and how they use their products. Companies that successfully integrate IoT that benefit both customers and their own internal processes stand to reap huge advantages, such as implementing new business models and new revenue streams.

There’s more to it than thinking of IoT as devices that simply capture data and communicate with each other. In order to deliver on its promise and to provide business value, IoT has to be coupled with the ability to make sense of the data captured to take meaningful actions. To acquire reliable IoT technology and assistance in deciding the right action for your business, visit https://telkomseliot.com.