3 Real World Industries Revolutionized By IoT
So before we start unravelling the mysteries around the word “IoT”, which means Internet of Things, We would like to share a memory with you. It is related to a wonderful animated film that we millennials saw during our childhood, which goes by the name, “Toy Story”.
Does it ring a bell?
Of course, it must have. We have seen this bundle of fun-frolic, exciting and emotional ride-of-a-movie multiple times. Apart from the really cool animation, the concept was very appealing to us. It felt so relatable, that no one could stop rooting for Woody and Buzz Lightyear. And the saga continued for the subsequent sequels as well.
The concept of IoT is very relatable too if put forth in a way that Toy Story does. Imagine a future where your refrigerator can communicate with your favorite grocery-store to order the eggs before they run out. Not through an actual dialogue, but with the help of the internet, sensors, data-mapping and analyzing software, and a lot more to run behind-the-scenes smoothly.
And guess what, the future has arrived already. IoT has revolutionized the entire world, by improving the efficiency and economic benefits thereby, reducing human intervention. Here’s the formal definition for you –
Internet of Things (IoT) is the holistic network of the physical devices such as vehicles, home appliances, wearables, and other items embedded with sensors, actuators, and connectors to build connections and transfer data for a beneficial integration of the physical world and the digital world.
Amazon Echo Dot and Echo Spot are two of the latest offspring from the house of the global giant – Amazon, expanding the inclusion of IoT into our homes, making them “Smart Homes”. With increasing number of inventions sprouting up on a daily basis, our homes are being digitalized in tit-bits to prepare us for the future. But IoT is not just limited to making our homes smarter and has expanded its wing-span to some of the most critical and creative domains of the world.
Considering Internet of Things (IoT) has taken the rush to the head, now let us tell you how the world is reaping the benefits of the Internet of Things (IoT). Here are some of the domains where IoT is predominantly changing the entire landscape.
- Retail Shopping and Proximity Marketing
After the advent of digitalization, it can be subtly said that E-commerce took over with huge leaps and bounds over the traditional methods of purchasing. But in 2016, Traditional shopping, with the help of Retail Marketing, witnessed a new dawn, when IoT was brought into action with the help of the devices known as Beacons.
Beacons are battery-operated wireless devices that transmit Bluetooth signals to nearby smartphones. After sensing any activity nearby, they are very proficient in sending signals to the nearest device, say a receiver, enabled with a Bluetooth functionality. This can be used to map the activity in the form of an information.
Now, once the concerned person has this information, he can act upon it in the desired manner. Taking an example, let’s suppose a customer was window shopping, with a slight intent to buy something from the store. Upon sensing proximity, the beacon will emit a signal, triggering an advertising message to be sent to the customer’s handheld device, luring him/her with a discount or a special offer.
The concept of using Proximity-mapping, Beacon Technology and IoT has been extended to a lot of other places as well. Retail shopping marts are utilizing such technologies to learn more about their customers and improve the overall shopping experience by incorporating customized shelves, intelligent shopping carts, automated check-in/check-out systems, adjustable store layouts and various other functionalities too.
Also, data associates can easily use this information in real-time to analyze and adjust the store layouts for better customer visits, monitoring traffic and customer demands and promotion of products for an improved overall productivity.
- Smart Grids and Electricity Management
Our electric grids and electric systems were conceived hundreds of years ago reciprocating electricity needs of that era. For small energy demands, the grid was designed to reciprocate one-way interaction of the utilities with the consumers. But with the advent of 21st century, this one-way interaction of grids with the households has become difficult, inefficient and even polluting.
Cut to the present, and we have with us “The Smart Grid Technology” based on IoT. Smart Grids introduce a two-way dialogue between the utilities and the customers for an exchange of electricity on one line and data on the other. Functioning as a developing network of communications, controls, computers, automation, and new technology and tools, The Smart Grid optimizes the overall processes in a much more secure, reliable and greener way.
Also, through the integration of alternative sources of energy, like the solar, wind and water, huge electricity demands are being mapped with much ease on a real-time basis. To achieve this, consumer’s consent is very integral and necessary for integrating Smart homes in this process.
The two-way communication process ensures a constant supply of electricity as well as insights on the usage for the Electricity Management Board. Now, by measuring electricity consumption on a real-time basis, utility boards can provide consumers with better insights to manage electricity usage and thereby, their bills with the help of a Smart Meter.
Apart from this, Home Area Network (HAN) connects Smart Home appliances like thermostats and other electric devices to an energy management system. Now, to reduce the load on the overall system during the peak hours, Smart Appliances can adjust their run schedule to cut electricity usage when not in use. Or they can reschedule these tasks at timings that are resonant with convenience and the non-peak hours.
Thus, the load on electricity production is moderated and evenly distributed throughout the day, reducing the overhead cost as well. With the help of data, grid operators can monitor, analyze and act upon the electricity consumption in real time.
- Health Care Industry
For quite some time, the Healthcare Industry was looking to upgrade its model based on Predictive analysis rather than the current iteration. As IoT is being applied to every sphere so swiftly, the Healthcare Industry isn’t a stranger to IoT at all.
With the evolution of the Personal Health Monitoring systems like the Wearables, Smart Vehicles, and Tele-medicine machines, accessibility has improved by leaps and bounds. A simple watch can extend the functions of mapping health stats to an IoT-based Ambulances in case of emergencies. By this sovereign integration, pre-hospitalized check-up can be run on the way itself, thus saving precious ounces of time.
On a different tangent, Remote Healthcare facilities are prepping healthcare standards for the future. By treating concerned person remotely, and monitoring the health with the real-time data, readmission rates dropped by 31%, reducing the cost of test centers by 7% last year in the US. By the end of 2018, 70% of the healthcare organizations are expected to invest in medical mobile applications for remote functionalities, with an estimated spend of 1.5 Trillion US dollars.
For the execution process, Remote healthcare functionalities are being installed directly into the Smart Homes with the help of E-Medical Kits, wearables, and other tools and technologies. Patients can directly connect with the proficient personnel via the digital medium and receive health care digitally. For future benchmarking, alignment of healthcare statistics will ensure more predictive healthcare to enable doctors with ample insights and time.
Apart from personal Remote Healthcare facilities, Drive-To-Patients vehicles have been introduced in India as well. By mapping the metrics to an increasing number of already present benchmarks, analytical insights not only help in the implementation of healthcare facilities but in government decisions, policies, insurance schemes, city planning and a lot of other decision-making processes as well.
The future of IoT is definitely amazing. In fact, it won’t hurt to coin the fact that IoT is the future. With so many big and talented players working in this field, we are really excited to see how they shape the upcoming decade, which is being touted as “The Next Dawn”. So, stay tuned for more interesting information on a variety of coveted topics.