How Internet of Things (IoT) influences the productivity of the firms

Internet of Things (IoT) has taken a significant role in achieving the best in all sectors that once needed unanimous growth. Industrial processing, agriculture, public safety, smart homes, smart buildings, smart mobility, environment monitoring, medical and health care are the fields that have been enjoying an unimaginable uplift at all levels.  

Our lives have become associated with applications in numerous ways. Innumerable applications available at our fingertips have made people very much dependent on them. It is not wrong, if we tell these applications have become crucial for our normal existence.     Internet of Things has great influence on the economy globally as it can transform many businesses, organizations and industries into digital business. This new model may improve efficiency, and also help to strengthen the relationship between customers and manufacturers.

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Data Management

Cloud computing offers flexibility and efficiency at every stage in big data analytics – from accessing, analysing and delivering results. With a well defined data classification policy, it can be used wherever data privacy and security are the main concern.

Big data consists of both structured (transactional information, invoices, sales data) and unstructured data (emails, documents, video, images) generated by computers and the other connected devices. Streams of data are generated every day in an organisation, from business applications to data from various sensors and tracking devices. To process high volumes of data within a short period, big data requires a cluster of servers that comprise a huge amount of computing resources. 

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Every business today strives to find ways to process and analyse perceptions from the different kinds of collected data. Organisations expect to derive valid perceptions from the collected data to arrive at the most intelligent decision. Big data offers persistent efforts to arrive at a competitive solution that will benefit the organisation

Normally, processing large data sets, which comprise both internal and external data,  involve huge amount of computing power, expensive software licenses, manpower costs. Due to huge investment to procure analysis by big data, it can be out of reach for many organisations. But, the cloud computing tool can help organisations to achieve results in a cost effective manner.  

Some of the familiar cloud service providers for big data and analytics services are:  Amazon Web Services, RackSpace, Microsoft Azure, and Google. Microsoft Azure offers products that can analyse huge amount of data in real time and provide the ability to know how to increase revenue, to improve customer management and to maintain lower costs.

Azure HDInsight handles any amount of data on demand.   The data can be from terabytes to pentabytes and it gives the freedom to the customer to spin up any number of nodes at any time.  It can process even semi-structured or unstructured data from devices, sensors, server logs, web clickstreams and social media.  Analysing newly generated data, the user can explore and tap the relevant potential for new business opportunities.

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Infrastructure as a Service (IaaS) provider is one of the three main cloud computing models. This model provides virtual server space, bandwidth, network connection, and IP addresses for organisations to adopt a dynamic infrastructure. It also makes their business future-ready and have prominent customers.

IaaS cloud solution eliminates delays in utilising resources. The services can be utilised whenever needed, and they have to pay only for the used resources. With the Internet connection,  they can access resources from any location.

To protect their data from getting lost, small or large organisations follow disaster recovery plans that suit their business models. If an organisation has branches in different locations that follows different disaster recovery plans, it turns to be time consuming and expensive. IaaS offers a consolidated disaster recovery infrastructure that reduces cost and handles difficult situations. The IaaS cloud computing prompts quick recovery with no loss of data. Organisations can access data through this cloud computing platform and function as usual with email, web servers and browsers.

Organisations need not worry about the physical security of centres where data is stored.  There is no single point of failure. Even if one server fails, the service will not get interrupted. Multitude of hardware resources and configurations support the system to run successfully.   

The IaaS model offers lower infrastructure costs. Organisations need not maintain hardware or network equipment or replace any old equipment. This pay-as-you-go model has significant cost savings. As IaaS use is metered, organisations have to pay only for the capacity needed at any given time. This avoids monthly or annual fees for features they are not using. The IaaS model demands no upfront charges, bandwidth utilisation fees or minimum term commitments.

Some of the familiar IaaS cloud solution providers are: Amazon AWS, Windows Azure, Google Compute Engine, Rackspace Open Cloud, IBM SmartCloud Enterprise, HP Enterprise Converged Infrastructure.

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Future scope

IoT has been gaining popularity over the last few years.  Yet, there are still fundamental and conceptual issues related to its performance and managing it.  Generally, IoT has been understood by many that it is a software application that can provide overall services to anything in this world.  The hardware part involved in IoT is also important for it is indirectly connected to its mechanism that functions with protocols such as RPL, CoAP, IPv6, and many others.  Better understanding of both hardware and software involved in the functioning of IoT can help in utilizing it more effectively.

The next important thing to note is its enhanced reliability proven by successful delivery of crucial information.  System failure or intrusion threat is the biggest challenge in IoT.  

In IoT, most of the applications are built on mobile interface. So, connectivity plays an important role in the transferring of important data. Connectivity issues raise a doubt on the capacity of IoT for not being efficient enough to transfer data from one place to another place.

IoT has come a long way.  The present developments in a wider scale have initiated a number of questions and solutions need to be found for them.

References

A. Khanna, S. Kaur Computers and Electronics in Agriculture 157 (2019) 218–231