A Phenomenon of Internet of Things: All Necessary Aspects to Consider

The Internet of Things (IoT) drastically changed the direction and speed of business competition and development. Providing companies with the ability to collect and store data extracted from streams like various devices and gadgets. This method influenced business process optimization by analyzing customers' behavioral patterns. 

It also improved scalability to new heights reaching cost-effectiveness and data accuracy. Now businesses have a broader perspective to grow faster. So, let’s find out what positive aspects implementation of IoT implies and what difficulties you must be prepared to face. 

What is the Internet of Things?

IoT quickly became a game-changer in the industry. Its tremendous influence and success are based on simplifying and improving the overall connectivity of data from different sources through implementing the interaction of devices, machines, and services. 

Using special protocols such as MQTT, CoAP, or XMPP, devices are now able to collect data from each other and cooperate directly with applications designed to monitor, control, and automate them. 

Users can access real-time information on their status by leveraging various embedded sensors throughout the device. This data helps to provide feedback that can be displayed on a smartphone or website.

IoT allows communication between different devices, such as smart appliances, and enables the transmission of customers’ personal information without needing an intermediate third party. 

For instance, credit card numbers can be safely stored in microprocessors and transmitted directly to the point-of-sale system from the buyer’s device. Furthermore, navigation through global positioning systems (GPS) is popular because this technology provides travelers with precise location details. There are limitless ways to encourage this technology into your business.

IoT’s Influence on Business

The are numerous IoT ideas for business, and the reason is that vast of them are pointed at improving customer experience, reducing costs, etc. IoT devices are, step-by-step becoming a powerful business analytical tool due to gathering important, valuable information about users and their behavior for further predictions.

Additionally, collected data can help to determine the main audience's needs, demands, and preferences.

However, besides obvious benefits, you may face particular difficulties in IoT implementation, mainly connected to data security.

What Type of Businesses Can Potentially Benefit From IoT?

There are so many directions to follow that it’s more than possible to get lost among multiple niches apparently. Each wants to develop in quality, technology, and financial aspects. The following list of industries is most likely to benefit from IoT implementation.

Healthcare

The whole healthcare system may be significantly changed in the nearest future. IoT is already improving various aspects of healthcare, including improved medical services, cost reduction, more accurate and precise diagnostics, and improved patient experience. 

Connecting with wearable devices like smartwatches, IoT simplified and added and ability of real-time monitoring of users' health data.

Industrial Business

Industrial businesses are seeing great potential in IoT. As in the previous case, the key advantage is the ability to collect real-time data but from factories' machinery and manufacturing equipment. This helps to make more accurate decisions and significantly improve operational efficiency.

Agriculture

IoT had already shown a positive impact on the agricultural industry. It enabled farmers to monitor and manage their operations unprecedentedly. It helps to manage ergonomic land exploitation, crop yields, livestock production, etc. 

Education

Unconditionally, the education field must always have mobility, constant solutions, and methods upgrades. The Internet of Things provided this in a simplified and technological way.

It’s important to mention that IoT implementation positively impacted both students' and teachers' experiences by simplifying the process of student attendance and progress tracking, helping students to determine their strong and weak sides in the educational process, and the overall automation of education.

Internet of Things Protocols

The IoT enabled communication between devices without human participation. The IoT protocols provide safe and fast data exchange.

Some of the common types of IoT protocols include:

1 . Wi-Fi: used to connect devices over short distances.

2. Bluetooth is a short-range wireless communication technology connecting gadgets within a given area.

3. Zigbee: An IEEE 802.15.4-based low-power, low-data rate protocol for connecting devices in close proximity.

4. 6Lo WPAN: A low-power, low-data rate protocol for connecting sensors and other devices over short distances.

5. RFID: A radio frequency identification technology used for identifying objects at a distance.

These protocols cover the need for secure and highly-effective interaction among a net of devices. A thorough comprehension of various protocols and their distinctive features encourages the appearance of well-researched business decisions.

IoT Risks and Challenges

Active IoT implementation majorly impacted business operations. Anyway, as with any new technological solution, some challenges might occur. 

● Security Risks: This aspect directly depends on the number of interconnected devices. The more devices are in the system, the higher chance is for data leaks or unwanted intrusions. To prevent such inconveniences, companies should work hard on the proper security systems, including encrypting, firewalls, and multi-factor authentification.

● Data Privacy: IoT devices generate large amounts of data that can be used for various purposes. Concerns regarding protecting user privacy and compliance with regulations, such as GDPR. Companies need to implement measures that ensure responsible and secure data handling.

● Data Overload: The amount of data that is produced by devices in IoT is enormous, and it is vital to prevent data-management malfunctions by encouraging strong analysis.

● Interoperability Issues: All included devices have to interoperate together clearly. That’s why protocols like 6LoWPAN or Zigbee must be used. It will significantly enlarge the potential of IoT.