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The Internet of Things for Business

The Internet of Things (IoT) is a scenario in which objects, animals or people are provided with unique identifiers and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.

The Internet of Things (IoT) is the network of physical objects or “things” embedded with electronics, software, sensors and connectivity to enable it to achieve greater value and service by exchanging data with the manufacturer, operator and/or other connected devices. Each thing is uniquely identifiable through its embedded computing system but is able to interoperate 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.[1] The interconnection of these embedded devices , is expected to usher in automation in nearly all fields, while also enabling advanced applications like a Smart Grid

The Internet of Things (IoT) will forever change our personal and professional lives. Embedded intelligence in a growing network of connected devices will increasingly connect people and businesses to everything else – and become the very fabric of a networked economy. This paper shares insights into IoT trends, opportunities, and technologies and discusses how SAP solutions for the IoT provide what’s needed to generate intelligence from connected things, people, and devices to optimize processes and operations.

The Internet of Things is being called the fourth industrial revolution, as it allows the physical and digital worlds to converge through all layers of production to completely transform the way manufacturing operations are run. This is critical for a number of reasons. First, industrial production requirements are changing. As customers grow savvier, they are demanding products that more precisely meet their expectations. And second, companies face increasing pressure to manufacture at more competitive prices. To adapt to these changing conditions, the fields of systems engineering, production IT, and business systems must fuse together more closely than ever to achieve higher levels of efficiency.

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