We live in a world where the pace of change is becoming ever increasingly rapid – and where businesses need to use every advantage that technology provides in order to attract and retain customers and increase organizational effectiveness. At the same time, consumers are becoming ever more demanding as far as the services that are on offer by businesses – and many are now insistent that those services include a healthy dose of technology.
Nowhere is this more true in buildings where both the owners of the property and those who are using it, for either residential purposes or an office space are demanding that technology, specifically the ‘Internet of Things’ (IoT) play a part in making their home and professional lives more rewarding.
However, it is the management and/or owners of the buildings that are leveraging the power of the Internet of Things (IoT) to optimize Building Management Systems. In a recent interview, Costas Polycarpou mentioned that in short, the Internet of Things allows building management to use technology based on an Internet backbone and a suite of applications to allow devices to supply a wealth of information and almost instantaneous data analysis – and tailor the responses of ‘smart’ devices to meet the requirements of all stakeholders – be they management, customers or tenants.
The Internet of Things can not only help with the management of the structure itself – but also with users, be they tenants or customers (for instance in a shopping mall). By using this technology the owners can reach out directly to their target audiences and optimize their experience. This has implications in terms of increasing customers and tenant satisfaction – and building a closer relationship with those who are using the space.
The information and data gathered in this way can range from predicting and managing traffic patterns (one example is the optimization of the use of elevators during high traffic periods), electricity usage, water flow, light levels, and temperature. Further analysis of factors such as foot traffic patterns can also help manage people in the event of an emergency. These are only some of the ways in which the Internet of Things has revolutionized building management systems. One outcome of the use of this technology is that the building itself becomes more desirable from the twin standpoints of effectiveness and efficiency – and thus has the potential to provide a superior return on investment – which is becoming more and more important in an ever more crowded marketplace.
One of the most attractive advantages of the use of data mining and actions reliant on IoT and connected systems is that it has the potential to minimize the manual input of those who manage the building. Semi intelligent systems can become by-and-large autonomous in action. In fact, machine learning based on the IoT is advancing at a rapid rate allowing the data that has been gathered to be analyzed in real-time and action to be taken without human intervention. Of course, this has implications for the costs of building management. Human capital is one of the most expensive overheads incurred by any business – and building management is no exception. There is also the fact that human beings become fatigued and are often prone to error. The IoT can simplify management and avoid some of the common pitfalls that affect the day-to-day management of any building.
The effect of using building management systems that are reliant on the Internet of Things is increased efficiency. Energy use, as well as lower repair and maintenance costs. One example is the regulation of lighting levels and air-conditioning in the building. Whereas legacy building management systems would allow for an element of control of both of these functions through timing switches (for instance) a smart system based on the interconnectivity allowed by the Internet of Things will allow for the analysis of motion – and adjust the lighting and air conditioning/temperature control services to match the unique needs of those who are using the building. Not only does this save on costs (for both building management but also tenants) – but it also leads to higher levels of user satisfaction. In fact, at larger sites, studies have indicated that the use of IoT-based management systems can lead to savings on energy and maintenance by up to 30% -not insignificant when one of managing an airport or mall.
There is another advantage to the use of such systems – and that is to bolster security. In an increasingly dangerous world – and one where crime is on the increase a system’s ability to identify weak points, as well as predicting behavior that can adversely affect the enterprise.
This is only scratching the surface of why the IoT is revolutionizing building management. As the technology continues to mature and advance it is not inconceivable that the human element of management will be removed from the feedback and action loop completely – and this will further enhance the attractiveness of using the Internet of Things to enhance the experience of all stakeholders.
When you talk about blockchain, your mind immediately turns to bitcoin. But right now, we need you to focus on the dynamic duo, blockchain and the Internet of Things also known as IoT.
The use of blockchain technology to store and secure data, devices and other online resources in the IoT is growing rapidly every year.
There are so many reasons why blockchain technology and IoT is a match made in heaven.
One reason that might not be so visible right now, is if you ever decide to sell your business, whether you post it through a business broker or to a group like Small Business Investors, you would get a lot more value when you incorporate blockchain technology into your business.
The Business of Securing Data
IoT allowed people to better store, manage and secure data and data streams. Blockchain is also in the business of storing data, that are mostly monetary in value. Blockchain has strong encryption that protects important and confidential data against infiltrators.
Blockchain is run and alive because of data stored in it. Blockchain is a distributed ledger for a large network of people making use of this data. Another great asset making blockchain and IoT the perfect partner is decentralization.
Decentralization is the nature of a blockchain relying on numerous points of control. In short, if a hacker breaks through one of these points of control, he or she only scratched the surface.
IoT also allowed blockchain technology to organize and disseminate these points of control throughout the network.
Machine to Machine Communication Security
One of IoT’s biggest contributions to the disruptive innovation campaign is machine to machine communication. M2M exchanges data in many forms and most of them are payments and transactions.
Blockchain is a platform not only for cryptocurrency but for real currency as well. This is going to be a two-way street, with IoT better securing blockchain data and blockchain helping IoT protect M2M communication and transactions.
Mobile technology went through a lot of milestones and even gave IoT more mobility. More and more blockchain mobile applications are surfacing transforming society for the better.
IoT or mobile IoT gave people more control and access to their blockchain data. Think about it, blockchain has a wide range of functions and other potential features. All of these, you can access via your mobile device.
Make sure to keep an eye on these topics to stay informed about the blockchain industry.
A business model is a business strategy. It’s a framework or a methodology that ensures not a business’ success, but business continuity, capacity, and sustainability.
More and more businesses in the world are applying IoT and its many features in their business models. You might want to do the same thing for your business. Especially if you want your operation to keep up with the competition.
If you’re not using IoT, your competitors surely are. Now, here are the top benefits your business model gets from IoT.
Data management, insights, and monitoring
With IoT in place data collection is not only data collection. Smart technology can store, organize, and even analyse data that will generate viable data reports. IoT uses data to determine what’s working for your business and what’s not.
From there on, you get to quickly and efficiently come up with strategic solutions for your business model. Data distribution through IoT and cloud computing also gets complex and collaborative.
Next Level Customer Support
Customer support or service is vital for all services. A business with an accurate, efficient, and informative CSR team will surely result in customer loyalty and strong ROI. Now, what can IoT do for your business’s customer support?
If you are utilizing IoT in your products and services, then you need your customer support to use it as well. The application of IoT in customer support makes it easy to determine problems your target audience are experiencing.
With data automation along with interconnected devices, maintenance becomes a lot easier. Most businesses using IoT for their customer support are turning to AI or automated support. Meaning, no human touch is required.
Both of these benefits are expected to provide more momentum in the future for businesses, especially with data management. It is also best to learn more about IoT business tools that can also benefit your business model.
Most smart products you use and purchase these days are IoT integrated. Professionals and providers use these tools to accomplish so much for so many services, products, and industries.
Here are the top 3 IoT development tools thousands of companies out there are using today.
Tessel 2 is not just a tool, it’s an IoT platform. If you are building a device of some sort for whatever reason you have, you need the right modules and technology to generate and run it.
Tessel 2 established a seamless connection of smart devices to almost everything in the world that helps people with their daily lives may it be at home, at school or work. Tessel 2 offers 10-pin modules for Accelerometer, Ambient, Relay, Climate, RFID, Servo, GPS, Infrared, and more.
Not only that, but they also have USB modules for BLE, MicroSD, Camera, Audio, and Cellular. To top things off, Tessel 2 also powers community-created modules like motion devices, lights, motors, and even heart pulse rate devices.
The Tessel 2 has two processors the 580MHz Mediatek MT7620n and the 48MHz Atmel SAMD21 co-processor. These resources give devices fast program execution. Tessel 2 also supports micro USB and it has 64 MB DDR2 RAM & 32 MB Flash.
To sum it all up, Tessel 2 is one of the best open source software/hardware available right now.
If you are building IoT devices, cloud-computing platforms or gateways, Eclipse IoT is the software for you. Eclipse IoT services open technologies utilized by companies, businesses, and professionals.
This software is applauded for its cost-effective price rates in exchange for extensive capabilities, especially for cloud computing. Eclipse IoT is recognized among millions of developers all over the globe.
Eclipse IoT can support different programming languages and frameworks, mainly Java. Another big asset of Eclipse IoT is its ease of usage. Both experienced and novice developers get the best out of it.
M2M targets machine to machine applications for smart grid, remote/smart monitoring and fleet management. M2M is big for vehicle tracking with its ability to manage and store data in the long-term.
With M2M, communication and configuration for devices comes easy and most of all, automated. One of M2MLabs’ best frameworks is the validation and normalization of data that is vital for security and operation.
There aren’t many reviews for this software but there are speculations that it will undergo several updates.
There are several IoT software coming and going because they can’t simply compete against these three and many more.
However, the demand for new features and innovations keep on growing with more and more next level threats. These threats target not only networks but data stored in the cloud as well.
In many cases, IoT companies are coming up with software/hardware hybrid development tools. These are what most people are looking forward to and of course, strong security measures, even beyond disruption.
There are more than a hundred IoT companies in the world today catering to different industries. These companies are not only responsible for making technology smart but cities and businesses as well.
Think about it, millions of businesses all over the globe adapted to IoT and cloud computing just to stay alive.
Not only that, the biggest cities all over the globe are now considered smart cities like Tokyo, New York, London, Seoul, and more.
Now, to be familiar with the top IoT companies in the world, here’s Rethink IoT’s top three.
Hitachi is known worldwide for their products and services for electronics, industrial machinery, information technology, telecoms and more.
Back in 2017, Hitachi launched the giant computer data storage company Hitachi Vantara.
The provider is now known as Hitachi Data Systems providing data storage services and augmentation such as cloud computing, data governance, video intelligence, data centre management, and of course, IoT solutions.
Hitachi Vantara’s very own IoT platform the Lumada 2.0 is a big hit among business sectors worldwide. Lumada turned data entry and management to intelligent solutions for businesses to gain more traction with their remote campaigns and projects.
One of the biggest assets of Lumada 2.0 is the utilization of the edge connecting sensor data and transporting it to cloud-based programs and storage.
Alibaba is not just one of the biggest e-commerce companies in the world. It is also one of the top contenders in the IoT stage with their very own IoT OS, the MindSphere. Alibaba partnered with Siemens to make this possible.
MindSphere is an IoT operating system or platform for different IoT functions, mostly availed and utilized by businesses. MindSphere, through cloud-computing manages data that serves functions for people, machines, businesses, and even plants.
All data are generated and protected through IoT.
Cisco’s IoT capabilities are valued by many of the world’s top industries like manufacturing, oil, aviation, automotive, and mass transit. One of Cisco’s biggest contributions to the world using IoT is its cybersecurity products.
Their cybersecurity products are focused on protecting people’s data against IoT threats. Not only that, but these products also help people better manage and control their data.
In terms of segmentation, secure remote access, data analysis, and data transparency, Cisco is on top.
All IoT companies are focused on a specific group of industries and services. These companies are at it 24/7 to help people better communicate with each other. They are proactive in making sure all aspects of our daily lives are protected from both online and offline threats.
The three companies in this list are not considered the top IoT companies worldwide, but only by Rethink IoT. We based this list on the top priority industries we think need further innovation and development.
For more updates about these companies and more, make sure to subscribe to our online magazine. Learn everything you can about IoT.
The Internet of Things is more than just an industrial revolution these days. The interconnection and ease of functionality of technology applied to almost everything physical.
IoT is able not to only store and manage data but store and manage data streams efficiently. IoT is innovation excellence itself, but there are still so much going on and so many things coming up.
Now, here are some of the biggest trends people are raging about in relation to the IoT.
Outsourcing and Cloud-Computing
IoT and cloud-computing are working hand-in-hand in the outsourcing business. IoT and outsourcing have something in common, actually a lot of things. Just like IoT, outsourcing took down the communication barrier for businesses with remote teams overseas.
Another thing they have in common, both concepts made data distribution and management coherent. It moved the office to the internet allowing people to work wherever they are.
More and more companies, businesses, and even government entities are looking to outsource many of their tasks, not only support. IoT made it possible to take care of several tasks and functions remotely.
By the way, IoT and outsourcing are both cost-effective strategies for businesses and companies utilizing the internet and online networks for their daily operation.
Believe it or not, outsourcing’s market value is more than £69 billion.
Smart and Secured Home
These days, it’s not just a smart home wherein you can dim your lights using your smartphone. IoT’s contribution to home automation paved the way for better security and surveillance measures to be applied.
More and more applications, programs, devices, and software are being developed for home security. Experts are expecting immense growth for these services and products in the coming years.
With stronger internet connectivity, people have a remote control for their entire house.
Healthcare Getting Disruptive
You might say that the healthcare industry is the last thing to utilize IoT. Well, surprise, surprise. The healthcare industry stores millions of data about their patients, health resources, research, and more.
An automated health centre, like a hospital, frees up more time for their personnel. These healthcare professionals are then able to focus on their core activities of attending to patients.
There are more trends to monitor and the chances are, they will affect your life, your lifestyle or your professional career.