Showcased Innovations at IoT Evolution Expo

Enterprise Iot

Article | July 20, 2023

If you’re struggling with creating a value proposition in volatile markets, you’re not alone. According to Neil Patel, 40% of marketers struggle to acquire leads by traditional marketing methods. As competition grows in each industry, even fairly monopolistic markets like tech are seeing rising competition in all areas. To combat market uncertainty, as well as stand out amongst your competitors, you need a market strategy that not only offers a direction but actively targets your goals. A market strategy is your go-to plan when things get rough and it is a map for when the waters are calm. Moreover, marketers with a documented strategy are 313% more likely to report success. We’re sure you already have a market strategy that is just right for you. But have you considered if it can be refined further? Thanks to emerging technologies like IoT, we now have access to the most mundane customer decisions that are taken on a day-to-day basis. This data is your ticket to a better market strategy without having to spend a bomb. This is how you can refine your market strategy with the help of IoT. Data-driven Decisions The Internet of Things has offered us insurmountable amounts of consumer data. A caffeine brand can now access information such as what time consumers have coffee, whether it is at home or office, what flavors they prefer, how much they’re willing to spend on coffee, and what other alternatives they consume. This kind of data, collected on an IoT device such as a coffee machine, is instrumental in making marketing decisions. If you know that your consumer prefers to have coffee at work in peace rather than in a rush at home, you can target offices in the area with your product rather than targeting individual consumers. IoT offers you the right information to make the right decisions. But you can also leverage this data to drive your market strategy. In the above example, the marketing team can account for campaigns geared towards workplaces based on the available data in the budget. Data-driven strategies prove to be more effective than otherwise, and as marketers, you must absolutely leverage any IoT data that may be relevant. Respect your Customers While IoT offers marketers a truly astounding amount of data, not all users are aware of what data is being tracked. This raises concerns for privacy and security among the users. Even though most of the users waive their rights to withhold the information when signing into an app or wearables software, they are not always comfortable sharing certain data. As marketers, it is important to keep your practices ethical and legal. Using consumer data may be completely legal, but it is best not to offend your customers by overt use of data that they aren’t comfortable sharing. Make sure that the usage of data in marketing campaigns and strategy is limited to what data has been consciously shared by your consumers. This will bolster your goodwill, as well as make your customers trust your brand. Offer Valuable Solutions With the advent of Big Data and AI technologies, the internet of things is turning over a new leaf. As there is a vast amount of data that can be processed fast with AI, marketers can now target individuals rather than households or groups. With precise data available over consumer decisions and actions, it is possible to know if there are any unlikely customers that you have been ignoring so far. IoT allows you to not only target these customers but also solve their problems. If we continue the caffeine example, the connected coffee machine can tell you when the coffee is about to be over, this can send you reminders to buy coffee, or in case of further automation, place an order on Amazon on your behalf. These solutions can be now hyper-personalized to suit individual needs through IoT. IoT Based Campaigns Your market strategy will have to account for campaigns throughout the year, but if you’ve noticed closely, the only marketing campaigns that gain significant traction are the ones that have a ‘wow factor’. A lot of marketers mistake the wow factor to be a subjective preference that customers have but it couldn’t be further from the truth. The wow factor is simply the effect produced when a business goes above and beyond to meet customer needs. IoT offers us the resources required to manufacture the wow factor in every single campaign. A great example of this phenomenon is beacon marketing. Beacon marketing is considerably new in the marketing industry and uses Bluetooth technology to transmit information to nearby mobile devices. It is heavily used in retail across the globe and giants like Target and Walmart are already using the technology to market its services. Walmart places beacons in its lights across its stores and sends offers to its customers based on their location. It not only personalizes the shopping experience, but also saves a large amount of electricity bill for its stores. Target Existing Customers Many times, in a bid to appease new customers, marketers often forget about their existing customers. Your existing customers already know you, have tried your product or service, and are clearly interested in the product. A good product or service is often enough to keep the customers returning, but with the current levels of competition, customers often find themselves wondering if they should try new things. As a marketer, all you need to do is deter your existing customers from straying. You can do this by either providing an unparalleled service, which is quite unlikely in today’s market, or you give them a reason to stay. Thankfully, targeting existing customers is much easier than targeting new ones. You already have their data over their preferences and habits. If you know that a certain firm updates their applications every second quarter, you can send them offers just before the second quarter starts and remain fresh in their memories when they decide to make the decision. Allergy medication Zyrtec leveraged IoT when targeting their existing customers with a voice-enable application. Its users could just ask the application about the daily allergens and pollutants in their area so they could prepare ahead. The app offered a powerful solution to its users while making great use of its brand image and retaining almost all of their existing customers. Leverage New Technologies We have already discussed several complementary technologies to IoT that can help you make the most out of your market strategy. AI and Big Data are some of the strongest allies for IoT that can help change the norms across industries. But even limited technologies like voice-enabled applications, QR scanners, beacons and so can open up a lot of opportunities for marketers. Consider adopting some of these technologies such as geofencing which are inexpensive and effective at the same time. Burger King is a great example of using geofencing for marketing. Geofencing is a technology wherein you can transmit messages or information to mobile devices within a certain area. Burger King set up their geofences across all McDonalds in the UK and as soon as anyone entered within a 500 m radius of a McDonald’s outlet, they received Burger King coupons and directions to the nearest store. Case Studies There are a lot of examples of IoT being used to enhance strategies or campaigns. Some of these examples are given below. Diageo, a whisky brand in Brazil innovatively used IoT to run a father’s day campaign. They encouraged men to buy whisky for their fathers and placed a QR code on their bottles. Once the bottle was received, the fathers could scan the code which would play a personalized father’s day message by their sons. This concept was so loved by people in Brazil that Diageo saw a 72% sales uplift in the two weeks leading up to Father’s Day. South East Water, CRM leveraged IoT by building an end-to-end IoT ecosystem powered by IBM’s Maximo. This helped them roll out an app that offered near real-time insights into customer requirements for over 80 engineering teams. This alone helped them ensure higher customer satisfaction and accelerated access to critical reports by 99 percent! Uber and Spotify rolled out an IoT campaign together wherein you could access your Spotify playlists through the Uber app and once you were in an Uber, you could play whatever you liked through the app and it would play on the car’s speakers. This increased customer satisfaction for both Uber and Spotify users. There are several examples of using IoT in marketing campaigns, and there is never a dearth of ideas. However, in order to appeal to your unique customer base, you need to innovate your product with IoT. Frequently Asked Questions What is the IoT strategy? IoT Strategy refers to an organization’s strategy to inculcate IoT in their business, whether as a marketing tool or as an integral part of the process. How does IoT affect the marketing industry? IoT offers a lot of insights and resources to marketers which helps them target their customers better and optimizes any marketing efforts, thereby effectively obliterating traditional marketing practices. What is the best internet of things marketing strategy? There is no one IoT marketing strategy that fits all businesses. 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Industrial IoT, IoT Security

Article | July 12, 2023

Driving digital transformation in manufacturing: Embracing seamless connectivity, data integration and risk-proof IoT security for enhanced efficiency, product quality, and innovation in industry 4.0. Contents 1. Introduction to IoT Security in the Connected Era 1.1 Significance of IoT Security for Business Resilience 1.2 Current Scenario of IoT Security 2. Next-Gen Authentication and Authorization for IoT Devices 3. Secure Ecosystems for Businesses Through IoT Network Access Control 4. Quantum Cryptography: Fortifying IoT Data Protection 5. IoT Security Providers for Connectivity in Businesses 5.1 Armis 5.2 Mocana 5.3 Inside Secure 5.4 V5 Systems 5.5 Nozomi Networks 5.6 Dragos 5.7 Claroty 5.8 ForgeRock 5.9 Praetorian 5.10 Security Innovation 6. Key Takeaways 1. Introduction to IoT Security in the Connected Era In the connected era, the proliferation of Internet of Things (IoT) devices has brought unparalleled convenience and efficiency to businesses and individuals alike. The interlinking of devices and their efficient networking is the need of the hour for businesses to function effectively with maximum productivity. However, IoT security has become paramount with the exponential growth of interconnected devices. Ensuring the security and integrity of these devices and the data they handle is crucial for businesses to safeguard their operations, protect customer privacy, and maintain trust in the digital ecosystem. 1.1 Significance of IoT Security for Business Resilience IoT security in businesses encompasses a comprehensive approach to identifying, assessing, and mitigating potential vulnerabilities throughout the IoT ecosystem. This includes implementing robust authentication mechanisms, encryption protocols, and access controls to prevent unauthorized access. Monitoring and updating IoT devices to address emerging threats is essential to maintaining a robust security posture. Business resilience requires staying proactive in the face of ever-evolving cyber threats. Regular security assessments, vulnerability testing, and incident response planning are essential to identifying and addressing potential weaknesses in IoT devices before malicious actors can exploit them. This proactive approach enables organizations to respond to security incidents swiftly, minimize the impact of a breach, and recover operations more efficiently. 1.2 Current Scenario of IoT Security IoT security requires the integration of cutting-edge technologies, such as AI and ML, to proactively detect and respond to cyber threats. Businesses can identify patterns, anomalies, and potential security risks by analyzing the vast amounts of data generated by IoT devices. Advanced security measures also involve securing communication channels and adopting secure coding practices to minimize the risk of data breaches or tampering. Correct and legitimate information in IoT security is crucial, as inadequate security measures can expose businesses to significant risks. Cyberattacks targeting IoT devices, such as botnets, ransomware, and data breaches, have already resulted in substantial financial losses and reputational damage for organizations worldwide. To stay ahead of malicious actors, businesses must prioritize ongoing security training, collaborate with industry experts, and adhere to established security standards. 2. Next-Gen Authentication and Authorization for IoT Devices The future of IoT security relies on next-generation authentication and authorization mechanisms designed to address the unique challenges of IoT environments. Biometric and behavioral authentication techniques offer enhanced security by verifying user identity based on physical or behavioral characteristics, adding an extra layer of protection for IoT devices. Context-aware access control adapts permissions dynamically based on contextual factors such as device location and user behavior, ensuring secure access in dynamic IoT networks. Additionally, smart manufacturing leveraging blockchain technology provides immutable and decentralized identity management, mitigating the risk of identity fraud and enhancing trust in IoT ecosystems. Embracing these advanced authentication and authorization approaches allows businesses to fortify the security of their IoT devices and establish a resilient foundation for the connected future. 3. Secure Ecosystems for Businesses Through IoT Network Access Control IoT network access control plays a pivotal role in ensuring the security and integrity of business ecosystems. With the proliferation of IoT devices, controlling and securing access to these interconnected devices becomes paramount. Implementing robust network access control mechanisms helps businesses establish secure network segmentation, granting specific access privileges based on roles and responsibilities. Segmenting IoT devices from critical systems can contain potential breaches, limiting the impact on the entire network. Moreover, secure device authorization is essential for vetting and authenticating IoT devices before granting network access. Advanced authentication mechanisms, such as two-factor or certificate-based authentication, provide an extra layer of protection, ensuring that only trusted devices can join the network. This fortifies the ecosystem against unauthorized or compromised devices, reducing the risk of data breaches and cyberattacks. In the digital era, where data is a critical asset, network access control is not only a technical imperative but also a business necessity. Businesses must prioritize implementing these advanced access control measures to safeguard their ecosystems, protect sensitive data, and maintain customer trust. A secure IoT ecosystem fosters business resilience, allowing organizations to fully leverage the transformative potential of IoT while mitigating security risks effectively. 4. Quantum Cryptography: Fortifying IoT Data Protection The technology is shifting towards quantum computing, which possesses superior processing capacity. It can readily circumvent existing cryptographic algorithms. Quantum cryptography is a secure method for encrypting data and assuring the highest level of security by providing only a single secret key to decrypt, only in the data's owner's possession. In contrast to traditional quantum computers, quantum computing's cryptography relies on physical rather than mathematical properties. It is a completely impenetrable system; imitating or viewing any data protected by encoded encryption in a quantum state is impossible. It is also impervious to any quantum computing applications. Public key cryptography algorithms, which are highly secure and ensure data protection against any quantum computer cyberattack, provide this protection against any quantum computer cyberattack. 5. IoT Security Providers for Connectivity in Businesses 5.1 Armis Armis provides the foremost asset intelligence platform on the market, designed to address the new threat landscape created by connected devices. Without an agent, it offers rich facts and context for device identification and classification, including manufacturer, model, IP and MAC addresses, OS, reputation, and usernames. The platform monitors device behavior and detects active vulnerabilities and threats in real-time. Armis provides reliable threat detection and response using premium threat intelligence feeds and device behavior insights. The Armis Threat Detection Engine quickly protects the environment by combining threat intelligence sources. Policy violations and threat detections can be enforced automatically or manually, allowing companies to disconnect or quarantine suspicious or malicious devices through network infrastructure or integrated security solutions. Armis Agentless Device Security Platform installs easily without network changes. It enhances infrastructure to protect assets. Its technology provides visibility, proactive threat detection, and effective cybersecurity management to protect vital assets and company activities. 5.2 Mocana Mocanacyber security for the Internet of Things, operational technology, and vital infrastructure. Mocana's tightly integrated solutions assist businesses in mitigating the risk of a cyber-attack, adhering to industry standards, and safeguarding intellectual property by ensuring that devices and processes are trusted end-to-end, from device fabrication to deployment. DigiCert for Connected Devices offers a streamlined and efficient solution for seamless application integration and migration, eliminating the need for custom code across various systems. This approach enhances resilience, maintains continuous perimeter security, and increases agility in responding to vulnerabilities or attacks. Digital trust is at the core of every endpoint, securing and hardening devices in the field with plug-and-play applications. Immutable identity simplifies device discovery and identification, streamlining compliance audits and providing real-time oversight of the entire IoT environment. Secure boot processes, remote shutdown capabilities, and comprehensive visibility and control over network connections further enhance security. 5.3 Inside Secure Inside Secureis a leading provider of security solutions for mobile and connected devices. They offer a comprehensive software portfolio, silicon IP, tools, and expertise to safeguard customers' transactions, content, applications, and communications. With a strong focus on security, the company delivers products with advanced technical capabilities that cover a wide range of security requirement levels. They serve various demanding markets, including network security for IoT, content & application protection, and mobile payment & banking. Inside Secure's technology plays a crucial role in protecting solutions for a diverse range of customers, including service providers, content distributors, security system integrators, device vendors, and semiconductor manufacturers. Their deep security expertise and experience allow them to deliver innovative and differentiated security solutions to address the evolving security challenges in the rapidly changing landscape of mobile and connected devices. 5.4 V5 Systems V5 Systems a technology firm recognized for introducing the world’s inaugural edge computing platform designed specifically for outdoor environments. The company has established a comprehensive solution addressing outdoor security, power, and computing requirements. V5 Systems delivers advanced outdoor security solutions along with a versatile computing platform capable of supporting various third-party applications. Additionally, the innovative ongoing power platform developed by V5 Systems enables unparalleled computing capabilities in any outdoor setting. With a commitment to leading the charge in Industrial IoT technology advancements, V5 Systems is dedicated to ongoing innovation. While the company prioritizes its customers and partners, ensuring the delivery of products and services with the highest level of enterprise support and customer care; it is focused on fostering a safer, smarter world, empowering stakeholders. 5.5 Nozomi Networks Nozomi Networks specializes in protecting critical infrastructure from cyber threats, offering a unique platform that combines network and endpoint visibility, threat detection, and AI-powered analysis for faster and more effective incident response. To mitigate IoT data security challenges, Nozomi Networks recommends starting with the assumption that IoT devices are inherently insecure and each device can serve as a vulnerable entry point into the network and business processes. Key strategies to address IoT security challenges include network Segmentation by limiting connectivity of IoT devices and networks to the business network, Vulnerability Management and Cybersecurity Monitoring by Monitoring network traffic, which provides insight into device behavior and helps identify malicious events and zero-day attacks. It helps organizations identify all communicating assets on their networks, detect vulnerable OT and IoT assets, monitor IoT cybersecurity threats and process reliability. 5.6 Dragos Dragoswitha global mission to safeguard civilization's industrial infrastructure, offers influential industrial cybersecurity technology through the Dragos Platform. This platform gives customers visibility into their ICS/OT assets, vulnerabilities, threats, and response actions. The strength of the Dragos Platform lies in its ability to incorporate Dragos's industry-leading OT threat intelligence and insights from the Dragos services team into the software. Additionally, Dragos adopts a community-focused approach, allowing customers access to the most extensive array of industrial organizations for collective defense and broad visibility. To ensure compliance with OT cybersecurity controls, Dragos provides industrial cybersecurity solutions tailored to meet cybersecurity control requirements, including NERC-CIP, TSA Pipeline, US Federal BOD, EU NIS, KSA OTCC, and more. Furthermore, Dragos WorldView Threat Intelligence provides situational awareness of adversary activity and vulnerabilities affecting industrial sectors, including adversary research, strategic intelligence reports and vulnerability analysis. 5.7 Claroty Clarotyisa leading provider of industrial cybersecurity solutions, empowering organizations to secure cyber-physical systems across industrial, healthcare (IoMT), and enterprise environments, known as the Extended Internet of Things (XIoT). Their unified platform integrates with customers' existing infrastructure to offer a range of controls, including visibility, risk and vulnerability management, threat detection, and secure remote access. It offers Ongoing security and compliance posture management, including full asset inventory across the XIoT, A zero-trust security architecture critical for minimizing cyber risk in OT environments and Proactive threat detection and mitigation to address the difficulty of responding to evolving threats. With extensive experience in cyber risk management, Claroty provides robust solutions that cater to a wide range of industries, including electric, oil & gas, manufacturing, building automation systems, chemical, government, water, food & beverage, mining, transportation, and pharmaceutical. 5.8 ForgeRock ForgeRock is a leading digital identity provider that offers modern and comprehensive IAM solutions for consumers, employees, and IoT devices. Their AI-powered identity platform enables organizations to achieve Zero Trust and Continuous Adaptive Risk and Trust Assessment (CARTA) security models quickly and efficiently across hybrid IT environments.ForgeRock helps organizations deliver Zero Trust and CARTA security by continuously identifying and remediating user access risks using AI-powered analytics. With ForgeRock Intelligent Access, organizations can build secure and dynamic user journeys without impacting IT resources or application performance. The platform allows authentication and authorization with context, such as user, device, behavior, and location. ForgeRock enables the infusion of modern identity into legacy systems and environments, applying Zero Trust principles across the organization. They provide free downloads and offer resources for organizations to learn more about their solutions and implement a robust zero-trust strategy. 5.9 Praetorian Praetorian offers end-to-end Internet of Things product security evaluations and certifications, ensuring the security of IoT products from chip to cloud. Their solutions cover various technological domains, including embedded devices, firmware, wireless communications protocols, web and mobile applications, cloud services and APIs, and back-end network infrastructure. They have developed research-driven evaluation methodologies to address emerging security challenges based on the OWASP Application Security Verification Standard (ASVS). This approach allows for tiered pricing based on the comprehensiveness of the security review, accommodating different testing and budget requirements. They employ various techniques to uncover unknown vulnerabilities in their professional security evaluations, depending on the level of rigor required. 5.10 Security Innovation Security is a reputable authority in software security, assisting organizations in building and deploying more secure software. The company specializes in software security, where traditional information security and business consultants often struggle. Security Innovation offers progressive training covering the full spectrum of IoT software assurance for builders, operators, and defenders. Security Innovation conducts IoT security testing for IoT and embedded systems to ensure the secure implementation of IoT software and firmware. They meticulously review connected devices' security threats and attack surfaces, examining physical, communication, infrastructure, and application levels. Their precision security testing focuses on high-risk areas that attackers are likely to target. IoT security testing outputs include security and functional objectives, identified attack vectors, and guidance on fixing vulnerabilities through mitigating controls. 6. Key Takeaways Exploring the IoT security landscape in the era of connectivity is crucial as the Internet of Things continues to expand and impact various industries. As the number of interconnected devices surges, the IoT security landscape will become increasingly complex, with new threats and vulnerabilities constantly emerging. The need for advanced security measures and proactive cybersecurity strategies will be more critical than ever before. Innovations in device-based authentication and authorization mechanisms, such as biometric and behavioral authentication, as well as context-aware access control, will enhance the security of IoT ecosystems. Furthermore, industry-wide collaboration and adopting security standards will be essential to building a resilient IoT security landscape. Manufacturers, developers, and stakeholders must prioritize security by design, ensuring that IoT devices are built with safety as a fundamental principle. Implementing secure development practices, conducting regular security audits, and establishing effective incident response plans will bolster IoT security. Addressing security challenges becomes paramount as IoT devices become more interconnected and play a significant role in critical operations. With the growing adoption of IoT, a proactive approach to IoT security is essential to ensure the integrity, confidentiality, and availability of data and maintain the trust of users and customers. By prioritizing IoT security and taking proactive measures, organizations can fully realize the benefits of connectivity while mitigating the risks associated with the ever-expanding IoT landscape.

Enterprise Iot

Article | May 11, 2023

For businesses to grow, they must be armed with the right technology and implement the right strategies to get a high return on their investments. With an IoT strategy, you can successfully make sense of the high volumes of data generated. IoT is about having devices with sensors communicate with other devices over the internet and share real-time data or parameters to maintain healthy system processes. Sharing and transferring data in real time over the cloud creates a lot of data that needs to be carefully managed. Not having a streamlined method to control and manage the volume of data to capture, send, transmit, and receive over the cloud poses many space constraints as the data piles up quickly. Furthermore, deciding what data to keep and what to discard, how long you need the data, and for what purpose are all critical. Some standard IoT devices include sensors, lights, alarms, and cameras that a smartphone can control. Learn about the importance of data management in establishing an IoT framework below. The Top Reason for Establishing an IoT Framework Needs Data Management Learning from past data trends to make future decisions in an IoT framework is critical. Data management acts as a layer between the IoT devices generating the data and the software accessing the data for analysis and services. It helps review, analyze, and navigate the massive amounts of structured and unstructured data. Defining which actions trigger responses to create data in your process is necessary to monitor your product and services and to keep your customers satisfied. In an IoT framework, managing the large amounts of data that are generated and collected means learning from the past and predicting what will happen in the future. Why is Data Management for the IoT Framework Crucial for Medium and Large Enterprises? Creating a better product is essential to add more value to your product offerings and avoid recalls, keeping your brand reputation at stake. The more data, the deeper the analysis, and the more refined the product, the greater the need to manage large amounts of data efficiently. The future of IoT data management is promising when it comes to improving all aspects of your business processes, mainly controlling the automation and manufacturing processes and software triggers. Check out the in-depth benefits of data management in IoT. Data management in IoT helps conduct a field test of your IoT products before deployment. Improve the uptime of your business production lines and equipment. Perform seamless decision-making for planning, scheduling, and execution systems to meet the changing customer and market demands using accurate and current data. Data management helps efficiently deploy IoT solutions such as enterprise resource planning (ERP), enterprise asset management (EAM), and manufacturing execution systems (MES) in manufacturing businesses. Data management helps remote monitoring of automation systems and robotic systems in industrial IoT needs current data and management. Improve production flexibility and responsiveness by welcoming smart manufacturing using IoT data management. When it comes to the data management of IoT devices, different types of data management systems take care of structured and unstructured data. 8 Data Management Systems for Your Enterprise IoT Devices IoT device management means registering, organizing, monitoring, and remotely managing IoT-connected devices at scale. Various cloud architectures with different data management systems help with efficient IoT device management. In addition, equipment data, sub-meter data, and environmental data help track the performance of your IoT devices through IoT data collection. Let's find out how data management systems for IoT devices would help develop an IoT strategy for your large enterprise. IoT gateway device management involves many steps in keeping your operations healthy and maximizing uptime. These are provisioning, authentication, configuration, control, monitoring, diagnostics, software updates, and maintenance. In addition, data management systems aim to make data available for analysis in the long term. The different data management systems are as under: Querying Production Collection Aggression/Fusion Delivery Pre-processing Storage, updating and archiving Processing or analysis. These data management systems capture, organize, store, retrieve, and analyze data when required. Sorting out the data management in IoT will initiate your internet of things database scalability. An IoT data lifecycle is built around the data management systems in the data flow, which acts as guidelines or checkpoints for a smooth data flow across your IoT platform. Let us unfold them below. Seven Guidelines for Cost-Effective IoT Data Management • Querying: Accessing and retrieving data for temporary monitoring. For example, you could ask IoT devices or sensors for data in real time to learn more about trends and patterns. • Production: Sensing and transferring data by the "things" or IoT devices in an IoT framework is the data production phase. Pushing the data to the cloud network and the IoT database servers and reporting it to the interested parties. This rich data has different formats such as audio, video, or image content, and is time-stamped and geo-stamped. • Collection: Collecting and retrieving data for a predefined time interval and sharing it with the governing components within the gateways is a part of the collection. Filtering out valuable data and compressing it accordingly helps seamless data transfer. It is also a part of data collection. • Aggression or fusion: Part of the aggression is real-time data transmission across the network to increase the rate of data streaming over the limited bandwidth. It pulls together information from different points of contact and reduces the amount of information that needs to be stored and sent. • Delivery: Collating the data from multiple touch points across the IoT framework and summing it up for the final responses is a part of the data delivery management system. Making data ready for permanent data storage is also a part of it. • Preprocessing: Removing redundant, missing, and incomplete data and making all the data unified is a part of preprocessing. Data cleaning is also one of the preprocessing methods applied to data mining. • Storage, Update, and Archiving: Storing data in an organized way for long-term offline usage or big-data systems is a part of the storage data management system. It can be decentralized or centralized as per the required capabilities. • Processing or Analysis: Retrieval of stored packets of data accessed for an efficient analysis is a part of data processing or analysis in a data management system. Whenever handling large amounts of data, an efficient data management system will solve numerous problems concerning your IoT strategy, as discussed above. Find out exactly what can keep you from implementing IoT. 5 Growth Challenges in Data Management for IoT Technology High Initial and Ongoing costs: Upgrading the hardware and software infrastructure that is already in place, hiring IoT-trained staff, and building an IoT infrastructure will all require upfront and ongoing costs. Vulnerability: Your IoT security strategy is a critical aspect of your IoT platform strategy. Multiple data points for structured and unstructured data captured, transmitted, stored, and retrieved by software come with security risks. Procuring Quality Hardware: Finding compatible hardware for your requirements and building an infrastructure around them can take a while regarding decision-making for scalability. In addition, hardware must remain supportive of the quick adoption of future software innovations. Installation and Upkeep of Hardware Infrastructure: Setting up a complex IoT strategy with the implementation of IoT data management, infrastructure, security, and more takes time and expertise. One of the other big worries is keeping the hardware infrastructure in good shape so that security can't be broken. Constraints on Scalability and Agility: The humungous IoT data traffic poses a severe concern for appropriate control of the data storage, retrieval, analysis, monitoring, and everything aligned with IoT data management. Also, the fact that IoT data doesn't last as long as other types of data is a risk to the way data flows and is collected. Now, let us figure out how to implement IoT that aligns with your business objectives. How to Implement IoT in Line with Your Business Goals A complete analysis of your immediate and long-term business objectives is critical as it helps decide which data to keep and which to discard after how much time. Every byte of data you hold and analyze comes with a cost for storage, retrieval, and security, which can be a barrier to implementing IoT for your business. Identifying IoT data collection helps you align your IoT implementation strategy with your business objectives. Here are a few ways to address your implementation of IoT. Consider the use cases of IoT data management as per the processes involved in your business. Implement security protocols for encryption and restricted access as per the type of business data. Organize training for the existing workforce and hire skilled professionals in IoT. Understand your business's data requirements, including the data collection process. Allow enough budget for IoT infrastructure and resources. Consider the design and development of the product as per the customer's behavior. Consider the impact of the environmental conditions affecting your business. Measure real-time performance metrics using a suitable IoT sensor to streamline your process. Take automated decisions with the help of AI once IoT sensors recognize the performance gaps. Choose the right IoT platform that defines how you communicate and handle data. Understand that IoT implementation is a complex process and needs commitment. Collect only the important data and statistics for a smooth workflow and to lower the cost of putting IoT into place. Taking into account where your storage and production lines are located, choose the best ways to gather, organize, and analyze your data. Use cold path analytics for the long term and hot path analytics for real-time data storage. Building infrastructure with scalability in mind will help small businesses grab market share quickly and efficiently. As a result, medium-sized enterprises will find prominence in their industry. Using data visualization in business intelligence allows for rapid optimization of your IoT devices and for controlling data management costs in the long run without negatively impacting performance. Explore more about IoT data visualization down below. Role of Data Visualization in IoT for Business Intelligence With IoT data visualization, you can optimize business processes by applying visualization business intelligence to get your business ready to scale. Discover the role of data visualization in your IoT strategy. Make sense of the data you've collected or saved. Patterns and trends should be recognized. Check the data for inconsistencies and errors. The output should then be visualized over time for analysis and monitoring. IoT infrastructure and devices improve performance and streamline the IoT data flow. Analyze real-time data correlations across multiple business verticals using the IoT communication platform. Make future decisions based on the data captured in the past. Get actionable insights on customer behavior and Identify the factors impacting your business. Once you identify the gaps in business processes, you can make changes to the process and further improvise. Creating an optimized workflow and detecting errors and faults in a process early are the primary goals of data management in an IoT strategy. Tackling vulnerabilities in data security and data redundancy helps the cost-effective implementation of IoT for small businesses, opening avenues for scalability. With IoT data management, you can also optimize your products to make customers happier and get a bigger share of the market, which is great for your business's growth. Summarizing With secure access control, encryption, software updates, endpoint security, and communication protocols in place, the relentless power of data visualization for analyzing and monitoring the captured data has proved to be unmatched. Bringing resilience and giving a rapid boost to the scalability of your medium and large enterprises is now becoming a norm with organized IoT data management. FAQs: • What is the most significant benefit of IoT? IoT helps devices or sensors report real-time data for smooth interconnected production operations. In addition, IoT keeps healthy functions throughout and minimizes the turnaround time for troubleshooting and maintenance. • What are the three types of IoT? Depending upon the needs from time to time, the three types of IoT include short form, medium form, and long form. The short form meets immediate needs, the medium form meets future needs, and the long form keeps the system running smoothly. • How does data analytics help IoT? Effective process optimization is possible by analyzing the data generated in an IoT framework. It helps boost efficiency, and connectivity, cut costs and unlock scalability.

Article | January 29, 2021

The COVID-19 pandemic turned the tides towards remote work and virtual connectivity. And even though growth seemed to have slowed down in 2020, experts see double-digit growth in the next few years. The tides may be turning but virtual connectivity and the tools required for remote growth are not slowing down in demand. As the tech world adapts to new shifts, IoT is among one of the most anticipated technologies to prosper in 2021. Digital transformation has rapidly accelerated in the past year and if the experts are to be believed, 2021 shows promise for an even better year for technological advancement. According to IDC’s 2020-2024 forecast, spending will reach an annual growth rate of 11.3 percent. And with this, the number of connected devices is likely to grow up. Take a look at what will be the focus of IoT industry trends in 2021. Privacy & Security As smart homes are becoming the norm and you cannot throw a stone without hitting a smart device, one thing is clear—IoT devices are everywhere. People almost always forget smartphones when talking about IoT devices, but the fact is that smartphones are very much a part of the IoT ecosystem. And with the infusion of IoT in our everyday lives, questions about privacy and security are cropping up. Just recently, as WhatsApp announced its new privacy policy, millions of users planned to migrate to other alternatives. This led to WhatsApp pushing back its privacy update and tech businesses taking note of changing winds. In 2021, privacy and security will be at the forefront of IoT industry trends, as devices infuse further into the everyday lives of people. According to recent research, 90 percent of consumers lack confidence in IoT device security. And the onus of bolstering consumer confidence will be up to IoT businesses. Workforce Management According to Gartner’s “Top Strategic Technology Trends For 2021” report, IoT will be a large part of the office experience in 2021. As businesses are trying to avoid the losses that occurred in early 2020, workplaces are being geared up with RFID tags, sensors, and monitors to ensure social distancing measures, whether employees are wearing masks and overall health monitoring. Additionally, many organizations have decided to move permanently to a remote mode and will rely more on IoT devices for connectivity. So we can expect better automated scheduling and calendar tools, more interactive video conferencing, and virtual meeting technology. In the case of fieldwork, IoT will offer an added factor of monitoring behavior. Greener IoT Experts predict that energy will be a crucial factor in the IoT industry trends in 2021. With smart grids, metering, and restoration resilience being powered by IoT, 2021 will move towards optimized energy consumption and devices that are designed to encourage energy-friendly practices. What’s more? Smart engines and automobiles can be optimized to reduce their carbon footprint and become energy-friendly. As evidenced by the Paris summit and the wildfires in 2020, the world is becoming ecologically conscious. IoT devices in 2021 will focus heavily on reduced emissions, lowering air and ocean pollution, and minimizing power expenditure. Location Data As COVID-19 limited human interaction, location-based services soared during the pandemic. Businesses started leveraging location data to offer curbside pickup, virtual queues, and check-ins for reservations to enhance the customer experience during the pandemic. According to experts, the use of location data will continue to be crucial for customer service and convenience in 2021. As people prefer being safe even as the vaccines are being delivered, location data will allow businesses to cater to their customers without compromising on customer or employee safety. Digital twins IoT is being helmed as the perfect technology partner for creating digital twins in many industries. As IoT collects a large amount of data through physical devices, this data can be reinterpreted to create the perfect digital twins. Also, IoT can offer visibility into the full product life cycle and unfold deeper operational intelligence. Companies like Siemens are already leveraging technologies like AIoT to design and create digital twins for product design and production. Coupled with AI, IoT will be used more commonly for creating digital twins in 2021. A technology as dynamic as IoT can be leveraged for almost any application. Therefore, it may surprise us all in the way it progresses in 2021. However, experts believe that the above 5 IoT industry trends will rule 2021 for sure. Frequently Asked Questions What are the latest IoT industry trends? The use of IoT in Healthcare, Artificial Intelligence, workforce management, and ecological conservation can be deemed as some of the latest trends in IoT. What is the future scope of IoT? As experts believe there will be over 85 billion connected devices by the end of 2021, and the numbers are promising for upcoming years, we can safely say that the future of IoT is indeed bright. What industries are most likely to use the Internet of things technology? IoT is a dynamic technology with applications in almost every industry. 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