The Internet of Things (IoT) is the interconnection of uniquely identifiable embedded computing devices within the existing Internet infrastructure. Typically, IoT is expected to offer advanced connectivity of devices, systems, and services that goes beyond machine-to-machine communications (M2M) and covers a variety of protocols, domains, and applications. The interconnection of these embedded devices (including smart objects), is expected to usher in automation in nearly all fields, while also enabling advanced applications like a Smart Grid. As of 2015 the vision of the Internet of Things has evolved due to a convergence of multiple technologies, ranging from wireless communication to the Internet and from embedded systems to micro-electromechanical systems (MEMS).
Estimates suggest that there will be 50-75 Billion connected things by the year 2020 which includes mobile phones, tablets and fitness trackers. The result will be highly personalized consumer experience and a high level of resource optimization and new level of innovation. SAP is helping its customers by monitoring and analyzing all the information and a nine-month data that is being created for real time predictive insight to automate their business which helps them create new sources of revenue.
For example, with IoT one can get highly personalized shopping experience. The devices use QR code, NFCs and Bluetooth and are capable of remembering the customer’s past purchases and hence can give you a preferred list of goods which one may buy. The real value of IoT is in real time vending machines. A vending operator who monitors throughout a large city can see all the goods the machine is stocked with. The operator can also see the amount of inventory in each machine. If a particular machine is out of items, the goods can be dispatched to that particular center and can monitor the vehicle’s progress. This gives higher levels of predictive management and helps in cutting down SCM costs.
To know more about IoT, attend the diversified lecture and hands-on sessions at SAP TechEd Bangalore. #SAPtd
Event: SAP TechEd
Date: March 11-13, 2015
Venue: Bangalore International Exhibition Center (BIEC)
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