Why Internet of Things (IoT)?

How it all started?

The idea of the Internet of Things goes back quite some time. We can trace it back at the end of the previous millennium where RFID has been a key development towards the Internet of Things. The term Internet of Things was coined by Kevin Ashton in an RFID context, whereby we used RFID to track items in various operations such as supply chain management and logistics.

Ashton, who was a marketer at P&G, wanted to solve a challenge he had seen before: empty shelves for a specific product. When shelves are empty, obviously no one can buy what’s supposed to be there. It’s a typical problem of logistics and supply chain. Ashton found the solution in RFID tags, which were still far too expensive to be able to put them on each product.

Why Internet of Things (IoT)?

Over the past few years, IoT has become one of the most important technologies of this century. It’s not surprising these days to see interaction between objects like refrigerators, microwaves, TVs, smart watches and mobile phones, or even cars via Internet; The Internet of Things is changing how we live, work, travel, and do business. It enables seamless communication between people, processes, and objects (things).

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When objects (things) able to represent themselves digitally, they can be monitored or controlled from anywhere, allowing us to capture more data from different places, ensuring more ways of increasing efficiency as well as improving safety and security.

By means of low-cost computing, the cloud, big data, analytics, and mobile technologies, physical things can share and collect data with little or no human intervention. In this hyper-connected world, digital systems can record, monitor, or adjust interactions between connected things. Our physical world meets the digital world, and they cooperate.

IoT and IIoT (Industrial IoT) is a transformational force that helps companies improve their performance through IoT analytics to deliver better results. Businesses in various industries like utilities, infrastructure, oil & gas, manufacturing, transportation, and retail can reap the benefits of IoT by making more informed decisions, aided by the torrent of interactional and transactional data at their disposal.

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