Before 1999, everyone thought the concept of connected devices belongs to the sci-fi movie’s plot and treated it as an imaginative theory. But, Kevin Ashton introduced the term Internet of things (IoT) to the world and showed that a network has more applications than to connect people with each other. It also connects appliances and devices around them; they can work together to collect granular data points and perform actions automatically. A watershed moment for every individual and business
In the past few years, the industry has witnessed exponential growth and widespread adoption in countries across the globe. As per Statista, the global trends indicate that by the year 2025, there will be more than 75 billion IoT devices online worldwide. With that, it also predicted that the total value of the IoT market will rise to $1.6 trillion.
Its applications are revolutionizing and penetrating into a myriad of industries such as healthcare, banking, hospitality, retail, transportation, smart real estate and smart building and more. Especially in the wake of COVID-19, IoT along with other advanced technologies proved to be a boon in disguise for data collection, monitoring, tracking, authentication and data analysis purposes.
Homeowners and realtors deploy home automation systems (HAS) and commercial IoT primarily to ensure health safety (the right relative humidity)and to monitor the occupancy in a building among many other benefits. The IoT ecosystem provides unprecedented convenience and aids in data-driven decision-making at all levels.
Why are data-collection and data-driven technology critical?
In the context of technological progress, the impetus for making Information more mobile and available indeed seems a defining moment. The Internet of Things (IoT) and cloud computing are steadily but relentlessly transforming our lives, whether for personal comfort, enterprise, or just to establish better ties with our colleagues and family.
While the majority of us are used to uploading and downloading information using common devices, such as desktop computers, laptops, computers and tablets, the IoT is a communication portal which contributes to ordinary things by integrating smart functions into them.
These smart objects include sensors, appliances and gadgets such as wearables, smart speakers, TV refrigerators, humidity sensors, garage doors, virtual doors, watches and more. Now there are endless possibilities for consumer-level and enterprise-level solutions available in the marketplace. With the humongous amount of data and the billions of IoT devices, smart solutions are gradually taking hold of every possible industry. As of today, Internet users are creating 2.5 quintillion bytes of data every day.
Here are some of the benefits of incorporating data-driven IoT devices:
- In comparison to the common reactive method, the smart buildings can minimize the upkeep expense by 3 to 9 times by enabling predictive maintenance through IoT.
- It helps mitigate the risks of being the host to flu-like dangerous diseases and viruses by keeping a tab on relative humidity and maintaining the right temperatures. It also keeps your real estate from catastrophic events.
- Corporations may use the same information that simplifies the lives of customers to gain insights on customer interactions and behavior to drive meaningful brand enhancements and render other strategic decisions based on the intelligence in real-time
- It improves healthcare by providing timely alerts to medical staff on the equipment, wearable to monitor health stats and the influx of the data can be utilized for research and product development.
- In retail, banks and commercial properties, it helps monitor the footfall inside the premises to offer a comfortable experience to visitors while maintaining the social distancing.
- The sensors, appliances and devices can help in smart energy management and predictive maintenance meaning they can alert the users and provider when their services are due and need replacement. It enhances the operational efficiency and appliance lifetime.
The emergence of futuristic technologies like the IoT has contributed to accumulation of vast quantities of key operational and economic data to enterprises and homeowners. Multiple businesses deploy the collected data in order to assess, to monitor and improve its operational effectiveness. The proliferation of data-driven business activities caused reinforcement of the practices of data collection and its usage. However, preserving and sharing the data collected may be a massive issue for management. Enterprises need to be impeccably mindful of the vital information to deal with security concerns.
Organizational leaders need to develop IoT data management strategies to incorporate IoT systems in a safe and productive way. A successful approach could be used to curtail cyber safety risks and guarantee data privacy for everyone. In particular, IoT Data Management tactics allow corporate leaders to minimize expenses and execute IoT techniques efficiently. They need to employ an adequate budget for top-notch IoT solutions and they should hire professional providers who make sure the benefits outweigh the risks.
Way forward with HWisel
Our smart home and smart building solutions can be applied across residential and commercial real estates. We implement high security protocols to safeguard users’ data and transmission with AES128 encryption via its private communications network without having to use GSM, WiFi and Bluetooth.
Our team of expert professionals, technicians and partnership with top-grade smart home device and sensor providers, we assure timely installation and live monitoring of all your IoT infrastructure. We take pride in our outstanding Smart Device Managementthrough HWisel App. Explore our smart home solutions and SHaaS services and make your real-estate future ready!