Building IoT Solutions for Businesses and Startups

In the most simple words, IoT is the combination of sensor-embedded electronic devices and networks (Internet) for data sharing. Some devices only interact with each other while others connect to the network.

"Your next refrigerator may know more about your diet than your doctor."

What do you think about a decade ago, how many personal devices/appliances were connected to the internet to make your life simpler. One or maybe two?

But today, take a look around and see the things connected to the internet. Your smartphone, personal computer, tablet, gaming console, camera, smart TV, and even your smart refrigerator (if you have one).

So the world will always be changing due to these sensors and the internet. And we call it the Internet of Things.

With the increasing penetration of IoT in businesses for better productivity, automation, expanding the potential market, and lower cost of production. More and more companies are putting their trust into it to manage their processes.

IoT solutions make a manufacturing unit intelligent while being autonomous.

A manufacturer needs to cope up with many things such as the supply chain and production cycle. All these things collect lots and lots of data like transactional data, ERP data, CRM data, and other public data. Collectively this data allows a manufacturer to work and operate the unit smoothly and connect with the customers and business partners.

According to a survey done by Industry Week, more than 40% of manufacturers think that this is the right time to adopt and invest in IoT.

What IoT could resolve - Machine failure, problems in the control system or getting accurate results from the data.

• Connected Machinery - With the help of sensors and actuators all the data gathered by the sensors is sent to the cloud for analysis and creating predictive models so that all the machinery works in sync. It also helps in maximizing the machine output by predicting equipment failure and reduce the service cost.
• Remote Operations - IoT can also help you manage the machines remotely; like, maintaining the temperature limits and other system operations which directly impact and reduce the cost of production.

IoT is modernizing the way of doing businesses by leveraging sensors, cloud infrastructure, data analytics, and visualization dashboard.

IoMT (Internet of Medical Things) has already started transforming the healthcare industry by improving patient care and communication between doctors and their patients.

IoMT is one of the largest and fastest-growing segments of healthtech.

Researchers at the University of Tokyo developed electricity conducting ink that can be used to print circuits on clothing and used to measure heart rate and muscle contraction.

IoMT technology can also help in emergency situations. If someone has a heart attack or stroke, all the relevant data from the patient's medical history can be sent to the doctor before the ambulance takes the patient to the hospital. Giving doctors a few more crucial minutes to figure out the best and precise treatment possible.

The IoT market is projected to reach 326 billion dollars in retail revenue opportunity by 2018.

How IoT can revolutionize the Retail and E-commerce:

• Automated Checkouts
• Virtual Experience of products with wearable devices
• Use of Beacons in the retail industry to combine mobile data collection with hardware by interacting with nearby smartphones.
• Smart Shelves lets you measure the results of retail execution by analyzing customer behaviour and the buying pattern.
• IoT in retail brings many solutions from product promotion to customer loyalty. For example, by delivering highly targeted marketing messages to customers at the right time.