IoT – what it means

Definition

  1. At the most simple level, IoT is defined as anything with a sensor and an endpoint.
  2. IoT is not something technically new – Machine to machine has existed for decades.
  3. Although connecting to physical devices is important, the Internet of Things becomes infinitely more meaningful when device data is paired with data about the people behind the devices.
  4. A data stockpile doesn’t help you better connect to your customers. What should be prioritized is how you are processing and understanding that data so it is meaningful and actionable. Examining this data in real-time, and identifying the most significant events, is the secret to engaging with businesses and customers proactively.
  5. In order to be meaningful, the reaction to data needs to be in real-time, personal, and contextual.
  6. IoT takes customer engagement to a whole new level   – From Reactive -> Proactive -> Predictive
  7. Your airline recognizes you are going to need a different flight while you are still midair on your first leg, automatically gets you a new seat to your destination, and upgrades you based on your mileage status. The only way they can do this is by processing data on you, your flight’s status, and upcoming flight details in real-time.
  8. Growth of IoT Market: With a projected CAGR of 31.7% over 2014-2019, the IoT market is experiencing steady growth momentum. A continuous surge in smart applications including navigation devices, media players and imaging devices are fueling demand for improved IoT infrastructure. Also, rapid upgrading of 3G and 4G networks is leading to an increased demand for high-bandwidth service, which in turn, is propelling IoT growth.

    Read more: http://www.nasdaq.com/article/alcatel-lucent-acquires-mformation-to-boost-iot-growth-cm521571#ixzz3mGMt4fcd

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