Impact of Internet of Things (IOT) and Big Data on Business

Internet of Things (IoT) is an all-embracing group of technologies and use concepts that has no one conclusive definition. A good way to understand IoT is as the use of network-connected devices, embedded in the physical environment, to improve some existing process or to enable a new scenario not previously possible. It simply referring to an ecosystem of distinct computing devices with sensors connected through the setup of the internet to communicate. Of more concern is the technology enhancement needed to connect everything on the planet.

Also, the type of wireless communications that could be built into devices, needs to address the challenges of what will power them and what changes can be made to improve the existing web infrastructure to support additional devices communicating, and at a lesser cost. Presently, a good number of IoT expectations have been met. For example, the cost and size of wireless radios has reduced drastically. Microchip technology firms are building Wi-Fi and cellular wireless connectivity, that are IPv6 enabled which allots communication address into various devices (Ismail, 2017).

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More so, mobile data coverage has grown bigger with many networks offering broadband speeds. Battery technology is not left out as we see the improvement in device ampere-hour and solar recharging has been built into numerous devices. Millions of gadgets are now connecting to the network daily, helping to improve the efficiency of businesses in various industries.

How does the IoT and Big Data currently play into your job, your organization and the industry? Are these two things connected and if so, how? If not, why?

IoT is simply a system of interconnected physical objects via the internet.

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The ‘thing’ in IoT can refer to a person or any device which is assigned through an IP address and it collects and transfers data over the internet without any manual intervention with the help of embedded technology (Verma, 2018) to make decisions. Meanwhile the concept of Big data involves a massive grouping of structured, unstructured or semi-structured data (in gigabyte), as well as the technology, tools and methods required to handle the large data, its storage, and in order to analyze those data to get the insights of the business trend (Verma, 2018).

Businesses just like mine benefits from IoT and Big data by;

· helping to increase the ROI for my organizations. Fr example, we make use of big data analytics and this costs much especially with the increased demand for data storage. We are now employing big data cloud storage which ultimately lowers the implementation cost for us and increases our ROI.

· As a manufacturing firm, we have installed IoT sensors within our equipment, we collect significant operational data on the machines and this helps us determine which equipment need maintenance before major a breakdown. We prevent significant expenses by skipping the downtime or replacement of the equipment. For example, an IoT-enabled HVAC system can report if its air filter is clean and functioning properly.

· Control and automation, we have a lot of visibility to our devices and in many cases, different units or an operator can remotely control a device. For example, an operator can remotely turn on or shut down a urea conveyor or adjust the temperature as per requirement.

· Communication, both IoT and Big data works on real-time data to provide accurate communication sequence across our manufacturing units. And this is a priority for us especially in monitoring, collecting, exchanging, analyzing and immediately acting on information to achieve our business goals/targets.

· Improved Inventory, as soon my company starts using IoT technologies, all of our devices and products were connected to the same network. Currently, we are able to automatically track and manage our inventory in the real time, seeing all metrics required at any time.

Personally, I think that both IoT and Big data are interconnected because when organizations are taking data for the purpose of analysis, IoT is acting as the main source for that data, and at this point the role of big data in IoT is apparent. Big data analytics is evolving as a key to analyzing IoT generated data from connected devices to the internet (to gather, analyze, share, and transmit data in real time) which helps to take the initiative to improve decision making (Verma, 2018). The role of big data in IoT is to simply process a large amount of data on a real-time basis and storing them using different storage technologies.

How have the IoT and Big Data changed the way you do business? How has it changed the way your organization does business?

Generally, IoT and Big Data has changed the way Dangote Group does business. From automation to control, data management in SAP, notable success in logistics and fleet management by enabling cost effective GPS tracking and automated loading/unloading. More so, IoT sensors have transformed efficiencies around the complex process of Cement, Ammonia and Urea production by monitoring the health and efficiency of hard to access equipment installations in remote areas with limited connectivity. In addition, plant area lightings can now be switched on or off using smartphone app or programs, and the same is applicable to a motion sensor or a smart thermostat used in the office to control temperature on the ACs. More so, the interconnection of sensors in CCTV to the control room has helped boost security from the primitive way to a more fascinating way. The use of biometrics has also discredited the old method of using books for employee attendance record. Lastly, both has aided the embedded communication system in the workplace that enables employees better connect to each other and their environment for enhanced collaboration and productivity using, PCs, smart TVs, printers, smart watches, mobile phones, etc. In summary, we are able to track and account for almost everything, and greatly reduce waste, avoid loss and control cost. The benefits helps management to make decisions on when to replace, repair, recall or discard just in-real time.

How are IoT and Bid Data poised to change your job? Your Organization? Your Industry? Is your organization ready? What possible pitfalls do see? Does your organization have any limitations in this area? How might those limitations be ameliorated?

There has been a lot of changes in jobs and responsibilities in organizations and the industry. Initially, we had plenty man-labor to operate several equipment but through control and automation we now require only few experts to do these job using stored data, analytics and communication via IoT interface. The implication, is that there will be downsizing in my organization and the industry generally, employing only those in the knowledge economy to sustain it – developers, computer engineers, IT, programmers, etc. In addition, with the introduction of comprehensive, real-time data collection and analysis, our production systems have become dramatically more responsive and this is same in the industry especially with digital technologies. The logistics, supply chain, and transport systems has been revamped as trucks have trackers and we use the GIS system to monitor and achieve on-time and real-time delivery to consumers. Our concerns on erratic data connectivity to the internet especially during poor weather conditions is a challenge, leading to interruptions in communication, loss of data, tracking of several fleets, loss of stocks, etc. Other issues include complexity, privacy and security of customer and company data on the internet so as to protect stakeholders (Ismail, 2017). Also, safety for fear of high-profile hacks and breaches, equipment licensing, unsecured online payment systems causing fraud are all concerns. We are also having challenges with managing our in-house storage capacity and may loose data if nothing is done on time.

In order to ameliorate this challenge, the need for effective compatibility of devices and complexity of the IoT and Big data needs to be fine-tuned. All the data must be encrypted so that data about you, the customer or organization are not common knowledge to the public. The need for cybersecurity needs to be tightened up to avoid information misuse. In order not to lose a huge amount of data that IoT applications generate in our in-house storage capacity, means that my company will choose to do their data processing in the cloud (Azure IoT, Google Cloud, etc.) (Ismail, 2017) to sustain its business and maintain market lead.

Conclusion

The connection of IoT and big data can provide new opportunities and applications in any organization or industry. This link has unlimited potential to transform several aspects of our society.

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Impact of Internet of Things (IOT) and Big Data on Business. (2019, Nov 19). Retrieved from https://studymoose.com/impact-of-internet-of-things-iot-and-big-data-on-business-essay

Impact of Internet of Things (IOT) and Big Data on Business

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