Understand Internet of Things (IoT) - Fundamentals 101
Internet of Things (IOT) by definition is the network of physical objects or "things" embedded with electronics, software, sensors and connectivity to enable it to achieve greater value and service by exchanging data with the manufacturer, operator and/or other connected devices.
My definition is Five words - "Enable Machine-to-Machine Communication". But in order to make this whole eco-system valuable to a consumer or business it requires 5 components.
Five Layer Internet of Things Information Model
Eventually the whole world will be connected. Starting with the World Wide Web, the internet allowed more efficient communication and increased self-service. Now you can order food, pay your bills and even go grocery shopping with just the click of a button. The IoT will revolutionize the world where machine will think for you. A simple example is when you brush your teeth your smart brush will tell your smart coffee maker to start making coffee. When you are done brushing your teeth, your coffee will be at the perfect temperature as you like it.
I want to leave the audience with a couple of questions. With all of our daily devices getting smarter and companies are “hoarding” data like a hoarder at annual garage sales. Companies are buying companies for billions of dollars just for their user base and data. Why is Facebook valued at 200 billion dollars today?
- Do we really understand what is all involved in Internet of Things?
- Has anyone examine the monetary value of the data?
- Can anyone say 1 Terabyte of data will return 1 million dollars in revenue?
- With 7 petabytes of social data coming in each day, storing it forever doesn’t make sense for most business
- What is the strategy of using this "Big Data"?
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