The Internet of Things is internetworking of computing devices, mechanical and digital machines, objects, buildings and other items in harmony with electronics, software, sensors, actuators, and network connectivity that enable these objects to collect and exchange data. In an IOT world everyone and everything is connected to each other using embedded systems and machine learning.
IOT not only enhances lifestyle but it also has a corporate side enabling organisations to collect and analyse massive data collected through sensors on manufacturing equipments, logistic vehicles, smart meters, bio-medical instruments. IOT analytics can help industries to monitor equipments, predicting hardware failures, optimising logistics which can increase revenues, cut costs and and enhance customer satisfaction. IOT Analytics can be employed in:
Usage behaviour tracking – understanding how the users are interacting with the devices and capturing their behaviour to improve services
Capturing health data – wearable devices and sensors are used to track health of patients
Optimising manufacturing – smart devices to track the wear out of equipment and predicting outputs
Real time analytics – to derive insights about the happenings at a place