Let us first recognize the seven categories that IoT infrastructure is built upon:
- Security and privacy
- Data analytics and management
- Data integration
- Data transportation
- Computing near the data
As it stands, the process of collecting data, selling data, or using data to increase efficiency is a big step up in the digital age. What with over 25 billion connected devices postulated in this day and age, and twice that number in the remainder of the decade, you could say that in order to stay ahead of the pack, buying and investing in assets that devour loads of data from various industries related to IoT is crucial.
There is more to it than just data of course, lest we overlook the little things that contribute to a much larger picture.
It is common knowledge that no one succeeds alone, everyone has help and everyone collaborates and contributes to each other’s success on their various paths. Therein lies the importance of building and leveraging an ecosystem of peers (some of whom may just be vendors of IoT-specific products and services) who will prove vital in the provision of a successful end-to-end customer journey. A little work goes into identifying these potential contributors who will go a long way in putting together offerings that will augment the ecosystem.
How you use data
Quantity and quality of data mean nothing if they are not effectively strung together in real-time, which a great acumen for being agile and being able to innovate is crucial for. By mashing up new data with data that is already in possession, it is imperative that new business insights are gleaned on a consistent basis, which will also pave the way for new ways of turning information into actionable insights.
Get immersed in the ‘smart city’ vision
Technology adoption has never been at the forefront of priorities with cities, but it has escalated many rungs in the last few years what with open data initiatives cropping up over the globe in a bid to radicalize the designing of apps to take advantage of real-time data. Even if one is late to the party, the benefits are such that they can build on what has already been pioneered.
This collaborative spirit will eventually see itself unfurl over the many issues that cities face these days i.e traffic, public transportation, electricity, healthcare, environment, and water. Cities like Barcelona (Spain) have invested in projects that span the availability of WiFi, healthcare for the elderly, and even the solving of parking problems.
As a parting shot:
“We will only get the best from these technologies if academics, business leaders, government work together to ensure they deliver the greatest possible benefit to the public” – Sir Mark Walport, Chief Scientific Advisor (UK)