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By Glenn Johnson, Senior Vice President, Magic Software Enterprises Americas
We have covered the Internet of Things in several applications related to business activities. Its application is vast and has been growing a lot over the last few years. In the business world it is common to question how to profit from it. There are several possibilities, but we will list some applications that can be taken into account today.
You will certainly discover other paths, so be sure to share with us.
Improve compliance processes
The Internet of Things can improve compliance processes by detecting a wide variety of conditions: temperature, humidity, air pressure, smoke, proximity, light, radiation, toxic gases, weight, speed, linear moment, orientation, electromagnetism, vibration , sound levels, speech and more.
As conditions are placed dangerously close to non-compliance, automated solutions, alerts, alarms and escalations may be triggered, while events are recorded for later reference. We are seeing IoT applications focused on compliance in everything from agriculture to transportation.
In a modern slaughterhouse, for example, an IoT application for food traceability follows the entire supply chain, so that any individual cut of meat can be monitored and followed up to the animal of origin.
Greyhound, a transport operator in Canada, for example, is equipping its buses with new technology that includes adaptive cruise control and brake sensors so that compliance can be assessed, increasing the safety of drivers and passengers.
Reduce risk
The Internet of Things can also reduce risk in a multitude of business processes. Applications for perimeter access control, avalanche alert systems, fire detection, pollutant monitoring, leak detection, various adulterations and many other applications for risk reduction and prevention are using technologies related to IoT.
For example, an IoT application can currently control behind-the-scenes access to sports and entertainment venues across the United States through a network of password readers and access control devices.
The ROI of the IoT
While there are ample opportunities to leverage IoT technologies, before a company calculates a return on investment (ROI), there are a number of other parts that need to be in place. Millions of micro transactions per second - including vast networks of sensors, controllers, beacons, smartphones, tablets and other devices - will require systems that can handle large volumes of data using memory computing methods. You will also need integration platforms to enable data sharing between customer relationship management (CRM) systems, enterprise resource planning (ERP), and financial and production backup systems.
However, the benefits far outweigh the costs. Consider, for example, all the efficiency gains that can be experienced by the automotive industry. Traffic management systems can provide more accurate instructions for avoiding traffic jams and accidents based on real-time data collected from connected cars.
Automotive parts manufacturers can also benefit from data that reveals wear and tear, leading them to pre-order replacement fisheries and notify drivers before equipment failures.
Car sharing apps can use real-time location information to stimulate rides. There are even proposals for insurance systems that would adjust their rates based on the geolocation of the vehicles and the behavior of the driver.
The Internet of Things can also speed up manufacturing processes. After all sensors and information sharing systems are in place, businesses can generate a significant return on investment to profit from the IoT.
You will certainly discover other paths, so be sure to share with us.
Improve compliance processes
The Internet of Things can improve compliance processes by detecting a wide variety of conditions: temperature, humidity, air pressure, smoke, proximity, light, radiation, toxic gases, weight, speed, linear moment, orientation, electromagnetism, vibration , sound levels, speech and more.
As conditions are placed dangerously close to non-compliance, automated solutions, alerts, alarms and escalations may be triggered, while events are recorded for later reference. We are seeing IoT applications focused on compliance in everything from agriculture to transportation.
In a modern slaughterhouse, for example, an IoT application for food traceability follows the entire supply chain, so that any individual cut of meat can be monitored and followed up to the animal of origin.
Greyhound, a transport operator in Canada, for example, is equipping its buses with new technology that includes adaptive cruise control and brake sensors so that compliance can be assessed, increasing the safety of drivers and passengers.
Reduce risk
The Internet of Things can also reduce risk in a multitude of business processes. Applications for perimeter access control, avalanche alert systems, fire detection, pollutant monitoring, leak detection, various adulterations and many other applications for risk reduction and prevention are using technologies related to IoT.
For example, an IoT application can currently control behind-the-scenes access to sports and entertainment venues across the United States through a network of password readers and access control devices.
The ROI of the IoT
While there are ample opportunities to leverage IoT technologies, before a company calculates a return on investment (ROI), there are a number of other parts that need to be in place. Millions of micro transactions per second - including vast networks of sensors, controllers, beacons, smartphones, tablets and other devices - will require systems that can handle large volumes of data using memory computing methods. You will also need integration platforms to enable data sharing between customer relationship management (CRM) systems, enterprise resource planning (ERP), and financial and production backup systems.
However, the benefits far outweigh the costs. Consider, for example, all the efficiency gains that can be experienced by the automotive industry. Traffic management systems can provide more accurate instructions for avoiding traffic jams and accidents based on real-time data collected from connected cars.
Automotive parts manufacturers can also benefit from data that reveals wear and tear, leading them to pre-order replacement fisheries and notify drivers before equipment failures.
Car sharing apps can use real-time location information to stimulate rides. There are even proposals for insurance systems that would adjust their rates based on the geolocation of the vehicles and the behavior of the driver.
The Internet of Things can also speed up manufacturing processes. After all sensors and information sharing systems are in place, businesses can generate a significant return on investment to profit from the IoT.
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