SUMMARY AND CONCLUDING THOUGHTS

This article presents a service provider oriented IoT data ecosystem as a snapshot in time. It highlights, briefly, the IoT as a composition of three interconnecting pillars representing a landscape of technology and operational processes referred to in this article as a data value-chain ecosystem. The mechanics of this data value-chain, however, are quickly evolving as early industry use case results are evaluated and the related ecosystem evolves. Over time, the basic data lifecycle thought of "collect →  analyze → strategize" could well serve as a simple common denominator principle to fall back on for clarity and focus. Though, it may also require constant reevaluation as IoT is set to move industries globally in an unprecedented direction.

Aside from a vision of connecting practically every object on the planet, the success factors of this new industry will depend on a host of market challenges. While apart and beyond the scope of this article, these include some obvious and other developing factors as catering to an increasingly security-aware marketplace, ease-of-use levels of products and services, affordable pricing, agreement on common communications standards, product interoperability, embedding analytics at the network edge, global migration towards IPv6, a young regulatory environment, as well as generating a positive perception with customers which translates into actual purchases. Likely, these and other challenges will take some time to overcome.

 

1. Quoting from blog article on NimbeLink’s blog page, M2M “…was an analog sensor, a bimetal strip bending as temperature changed until it closed a contact and became, for that instant, digital. Changing its state from zero to one, it sent a signal down a wire. That signal turned on the furnace or boiler, where a second thermostat waited to tell the fan or pump when it was time to start circulating heated air or water.” Published September 06, 2014. Accessed November 14, 2015 at: https://www.nimbelink.com/m2m-history-begins-in-1885/

2. McKinsey report: Unlocking the potential of the Internet of Things. Notes that "Our bottom-up analysis for the applications we size estimates that the IoT has a total potential economic impact of $3.9 trillion to $11.1 trillion a year by 2025." Published June 2015. Accessed on November 14, 2015 at: http://www.mckinsey.com/insights/business_technology/the_internet_of_things_the_value_of_digitizing_the_physical_world

 

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About this Article

This document is for informational purposes only. The contents are personal views of its author, may contain inaccuracies, and do not represent advice of any kind. Always consult with a qualified professional for proper assessment and advice on your particular business needs.