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Internet of Things - Solutions from Silicon Labs
SILICON LABS | March 1, 2016
Polar Semiconductor, LLC, is a wholly-owned subsidiary of Sanken Electric Company, Ltd. PSL is located in Bloomington...
Article | February 14, 2020
Technology drives innovation, and for most retail companies, the “Transform or Die” motto still rings true. Retailers are always experimenting with the latest tech innovations to reshape the customer experience to alter their expectations both in physical stores and online. But simply following every hot trend in the industry because of the fear of missing out (FOMO) is one of the most common mistakes retailers make when adopting emerging technologies. The retailers who thrive in their respective markets are the ones who learn how to implement technologies that deliver the highest return on investment (ROI) from Gartner’s hype cycle for emerging technologies.
Three out of four IoT projects are considered a failure, according to Cisco. This is troubling but even more so when Cisco also found 61 per cent of companies say they believe they’ve barely begun to scratch the surface of IoT can do for their business? Businesses believe in the long-term value offered by integrating IoT into their business plan, however, they lack the knowledge of what is required to ensure the success of such a complex project. By studying past failed projects, technology leaders can gain a better understanding of why they failed and what they can do differently when evaluating and undertaking new IoT initiatives.
To paraphrase a well-known saying, the journey to a complete smart city begins with a single building. No matter the size of the city, the extent of the technology or the most helpful use cases, a prospective smart city can integrate into — or branch off of — initiatives pushed forward by a smart building or campus. And when there is an increasing demand for these types of solutions, large corporations have the opportunity to improve corporate and social governance practices, as well as stand out in their community by championing more connected technologies.
Workers in construction, agriculture and manufacturing are reported to have the highest incident rates, according to the 2018 research of the US Bureau of Labor Statistics. Medical expenses for work-related injuries are scoring millions of dollars each year. In recent years, businesses have increasingly opted for industrial IoT solutions that offer advanced monitoring capabilities designed to predict and prevent incidents. In many situations, smart monitoring can save lives in the event of equipment misuse or failure, inefficient safety regulations and health-threatening sites.
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