Editor's Note: Take a look at our featured best practice, Internet of Things (IoT) Decision Framework (21-slide PowerPoint presentation). Internet of Things (IoT) products are more complex than typical products, since there a 5 layers of technology to consider, whereas other products may only have 2 or 3. With each additional layer, the complexity includes exponentially.
The IoT Decision Framework provides a structured approach [read more]
Also, if you are interested in becoming an expert on Digital Transformation, take a look at Flevy's Digital Transformation Frameworks offering here. This is a curated collection of best practice frameworks based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. By learning and applying these concepts, you can you stay ahead of the curve. Full details here.
* * * *
Internet of Things involves providing innovative digital services and delightful Customer Experiences. IoT encompasses an accumulation of network-based devices that extend internet connectivity beyond standard devices. These devices can communicate and interact over the internet, and can be remotely monitored and controlled.
IoT devices run on network connections like Bluetooth, Wi-Fi, and Near-Field Communication (NFC). IoT devices include smart appliances, e.g. webcams, printers, routers, wearables such as Apple Watches and Fitbits, refrigerators, security systems, and speakers (including Amazon Echo and Google Home).
Coupled with network connection, IoT presents unlimited capabilities and opportunities to transform the technological landscape. These opportunities can be segregated broadly into 3 key strategic models:
- Enablers – The developers and executers of the underlying technology.
- Engagers – Those who shape, invent, incorporate, and offer delivery capabilities of IoT services to others.
- Enhancers – Those who add value to what engagers offer by developing their own creative services.
IoT devices integrate technologies like cloud computing, data analytics, and mobile communications.
In order to offer value propositions concerning Internet of Things, organizations need to have a blend of 5 main types of technology offerings. These technology offerings comprise the “IoT Technology Stack:”
- Endpoints
- Simple Hubs
- Integrating Hubs
- Network and Cloud Services
- Enhanced Services
The IoT technologies that comprise the IoT stack—Endpoints to Enhanced Services—offer a set of choices to businesses aspiring to develop IoT offerings. Many organizations are in the business of delivering Network and Cloud Services, some create Endpoints before moving on to develop Simple Hubs, and others offer Hub Integration services.
Let’s talk about some of these offerings in detail.
1. Endpoints
- The Endpoints category of IoT technology gather data and manage various gadgets.
- Endpoints monitor changes and provide input in response to environmental changes.
- Endpoints include single-purpose sensors and actuators that collect and evaluate data from their surroundings and control objects using the internet.
2. Simple Hubs
- Hub devices connect Endpoints to Networks.
- Many internet-connected simple hubs can be found in a building dedicated to control a single function (e.g. water, lighting, security, air conditioning etc.).
- Hubs are incorporated into home heating / air conditioning, washing machines, engines. Hubs enable appliances to adjust in accordance with the user’s behaviors and self-optimize to enhance efficiency, using embedded intelligence and storage.
- For instance, Hubs controlling lighting gather sunlight data from window sensors and modify the brightness of a room correspondingly.
3. Integrating Hubs
- These complex hubs are used to link simple hubs with other connections, to offer an assortment of relevant services.
- Much like the iPhone or iPad which developers use, Apple developed the first IoT integrating hub in 2014, the HomeKit. HomeKit integrates multiple simple hubs from diverse vendors and display them on a smartphone through a unified user interface. Electric power, security, motion and video monitors, HVAC, smart refrigerators, entertainment, lighting, and window shades are some of the systems that HomeKit integrates through the click of a smartphone’s button.
- Oracle’s complex integrating hub assisted the yacht that it sponsored lift the America Cup in 2013. The yacht was integrated with 300+ sensors and cameras to carefully examine its coordinates, wind speed, direction, pressure on the sail, etc. During the competition, the team gathered and analyzed huge amount of data daily, using Oracle servers and high-speed wireless connections, which improved the yacht’s performance tremendously on a run-time basis.
Interested in learning more about the offerings that constitute the IoT Technology Stack? You can download an editable PowerPoint presentation on Internet of Things (IoT) Technology Stack here on the Flevy documents marketplace.
Do You Find Value in This Framework?
You can download in-depth presentations on this and hundreds of similar business frameworks from the FlevyPro Library. FlevyPro is trusted and utilized by 1000s of management consultants and corporate executives.
For even more best practices available on Flevy, have a look at our top 100 lists:
25-slide PowerPoint presentation
Internet of Things (IoT) will soon become a differentiating factor in competition. Senior Leaders and Board Members are now required to take a systems approach. This systems approach will address the organizational challenges and risks the expansion of the digital domain will create.
Doing
[read more]
Want to Achieve Excellence in Digital Transformation?
Gain the knowledge and develop the expertise to become an expert in Digital Transformation. Our frameworks are based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. Click here for full details.
Digital Transformation is being embraced by organizations of all sizes across most industries. In the Digital Age today, technology creates new opportunities and fundamentally transforms businesses in all aspects—operations, business models, strategies. It not only enables the business, but also drives its growth and can be a source of Competitive Advantage.
For many industries, COVID-19 has accelerated the timeline for Digital Transformation Programs by multiple years. Digital Transformation has become a necessity. Now, to survive in the Low Touch Economy—characterized by social distancing and a minimization of in-person activities—organizations must go digital. This includes offering digital solutions for both employees (e.g. Remote Work, Virtual Teams, Enterprise Cloud, etc.) and customers (e.g. E-commerce, Social Media, Mobile Apps, etc.).
Learn about our Digital Transformation Best Practice Frameworks here.
Readers of This Article Are Interested in These Resources
46-slide PowerPoint presentation
This document is a part of the Big Data Primer containing 7 chapters providing Overview of Big Data, its dimensions, ecosystem, applications, challenges & concerns, sentiment analysis and Gamification.
In the sixth chapter titled "Mobile Big Data and Internet of Things" following content is
[read more]
Excel workbook
New objects as the plethora of different device types, devices, gateways and Internet of Things (IoT) platforms need to be maintained because they are decentralized trust servers of the organizations using them. Management and governance enables organizations to meet both compliance and
[read more]
29-slide PowerPoint presentation
The Internet of Things (IoT) encompasses an accumulation of network-based devices. IoT involves extending internet connectivity beyond standard devices. Embedded with technology, these devices can communicate and interact over the internet. They can be remotely monitored and controlled.
[read more]
25-slide PowerPoint presentation
Manufacturing today entails immediate yet informed Decision Making. However, with increasing levels of sophistication and production, senior leadership often has limited time to make optimum decisions pertaining to the number of unanticipated issues surfacing from time to time. These issues--if
[read more]