The IT industry creates new buzzwords every few years and this year everyone is talking about Internet of Things and Internet of Everything.
But what really is the true definition of IoT and what are its constituents? How should businesses prepare?
There are several definitions. But IoT or IoE is really about networks, devices, people and processes – and how these are all getting interconnected. The enabling technologies are mobility, cloud computing, big data analytics and social – a collective term for this is SMAC.
For IoT to be widely accepted and implemented, there are 2 or 3 things that need to happen:
- Businesses need to become IoT ready by upgrading its infrastructure, re-engineering processes and business models, and infusing an IoT culture in the organization.
- We need to have widely accepted industry standards, compliance, frameworks and protocols, through strong consortiums.
- Businesses need to be crystal clear about what they want to achieve with IoT – beginning with the end in mind.