The internet did a lot to democratize marketplaces and extract substantial efficiencies from ongoing operations. Requiring only a minimal investment, anyone potentially could create a successful business, especially if they leveraged large distribution channels, such as Amazon or eBay. Yet for all the technological advances, many businesses still suffer from relatively high operating expenses due to the analog nature of existing infrastructure—a sensor can generate an alert that a pipe is leaking, but a maintenance worker has to do the rest. Entering such a traditional marketplace, with its high barriers to entry, would normally be fraught with risk.
In 2008, a secretive inventor—or group of inventors—named Satoshi Nakamoto created the cryptocurrency Bitcoin and its underlying blockchain (or alt-chain) technology. Blockchain is a peer-to-peer distributed ledger system in which transactions are recorded but cannot be copied. This methodology that remedies many of the drawbacks of traditional internet networks as a blockchain is essentially a self-auditing ecosystem that reconciles transactions every ten minutes in groups known as blocks.
A Roundtable Webinar Discussion
Featuring Neo and IoT experts
March 29, 2017
Monitor, Control, and Manage your Organization’s Devices all from a Simple Interface
AerPort, Neo’s IoT connectivity management platform, puts you in complete control of your organization’s IoT network and devices. With AerPort, you can monitor and make changes to your SIM cards, set up custom alerts, run detailed reports, and detect and troubleshoot any network or device issues all from a single, easy-to-use interface.
Google made more than $89 billion dollars in revenue in 2016, Amazon $136 billion. These companies (and others) revolutionized their industries by taking an existing platform (the web) and maximizing its marketing potential. Such fantastic opportunities exist again thanks to IoT. Now you can take a basic IoT infrastructure and maximize its value via up-selling and cross-selling to consumers. Much like web technologies, IoT-driven marketing treats each user as unique and delivers a personalized experience that both increases sales and enhances loyalty over the long term.
One of the most lucrative business models commonly is known as the razor and razor blades. In a nutshell, you can sell one-off razors but why not have repeat customers with the blades? You can see this applied today in everything from printers (ever wonder why printers are inexpensive or even free?) to vehicles (a dealer does not necessarily need to sell a lot of cars to remain profitable). Which brings us to IoT and your operations.
Chances are your small business already uses Internet of Things technology for day-to-day tasks. Smartphones, for instance, have become a standard tool for any businessperson to stay on top of emails, projects, finances, and processes. And now, IoT and cloud networks provide seamless interaction between managers and employees with smartphones, computers, and IoT hardware to streamline workflow companywide.
Building automation systems allow people to monitor power usage, hardware malfunctions, and even control when and how lights, air conditioners, and security systems operate over the course of a typical business day. Since 2000, a majority of commercial, institutional, and industrial buildings have been built with at least some kind of basic automation system installed. Within the past decade, use of Internet of Things / machine-to-machine technology in building automation systems has resulted in more affordable, flexible, and customizable automation for large buildings than ever before.
Back in August 2012, AT&T announced that it would be shutting down 2G GSM services (including GPRS and EDGE packet-data) by January 1, 2017. The reasons for this technological sunset have to do with various historical and business issues that drive the cellular industry.
Topics: 2G GSM Sunset
When creating and managing an Internet of Things / machine-to-machine deployment, you’ll want to integrate analytics from the start so you can gain the most value from your investment. Gathering data in real-time helps businesses analyze and decide what optimal actions to take.