I was recently at a presentation with Hadik Bhatt of Cisco, who is a key player in leading Cisco’s charge pertaining to the Internet of Things. As Hadik explained, it is his job to collectively build the ecosystem of talent, skill and resources that will eventually “connect the unconnected” including people, processes, data and things globally. What does this mean?
The Internet of Things (IoT) refers to a time where everything including household items, cars, computers, electricity, street lights and the list goes on, would be connected; with embedded technology to communicate and interact with other units and the surrounding environment. We are starting to see this now with smart phone cababilities.[ibimage==38340==Small==http://http://www.ourhelix.com/blog/entry/ourhelix-challenges-small-business-to-prepare-for-the-internet-of-things==self==ibimage_align-right]
An interconnected world would be possible with processers and sensor technology that includes automatically transferring data over a network without requiring human or human computer interaction. Meaning, there would be an automated flow of data between various types of units including data on how humans interact with the units.
About a dozen cities are "making radical architectural, technological and process investments for their future by engaging in a variety of smart, connected city projects". Barcelona, Amsterdam, Hamburg, Abu Dhabi and Dubai are a few places coined as "smart cities" according to Anil Menon, Cisco's Deputy Chief Globalization Officer, Emerging Countries.
Cisco created an interesting video pertaining to smart cities for the most recent Internet of Things Forum in Barcelona. It is worth the watch to help assess the impending changes and provide insite for how business leaders may need to think differentlly about their business models.
[video:https://www.youtube.com/watch?v=TCbvxb5t5_8]
We are entering the lifestyle age portrayed in the 1960’s animated sci-fi show The Jetsons.
Gartner Inc. predicts The Internet of Things “…will grow to 26 billion units by 2020”.
For example, IoT could impact how auto insurers figure rates based on the actual amount of miles driven in a car they insure. It could mean your household devices could provide you with notices when they are close to experiencing a malfunction or a light bulb is approaching the “burn-out” phase. It could mean that as a device experiences a malfunction it could automatically reorder the parts needed or communicate with the support services directly to minimize down time.
What does this mean for small businesses?
Devices will be more in tune with consumers and consumers will rely more on communications from their devices. Consider how the pendulum may swing from a commodity to a service driven environment. Unique services that focus on efficiencies, valuable experiences and consistency will make a business stand-out. Those businesses that shift their strategic direction early-on to a service based focus, have the advantage over their competitors.
Consider a shopper at a grocery market and based on what products a consumer puts into the cart, a recipe using those products is sent to their mobile device. Or, a coupon for a product is sent to their mobile device as the consumer walks by a display for the same product. Sound familiar, like an iBeacon? iBeacons are happening now and use sensory technology to respond to how humans engage with their environment. Read 2014 Main Street Technology. What predictions will actually stick?
Marketing will be based on interactions and more targeted than it has ever had the opportunity to be in the past. Efficiencies in advertising will also reach new heights.
What does the interconnected world look like for your industry and around your specific expertise?
How will your customers’ needs change and what opportunities does that open up for your business? Share your ideas and thoughts.
Now, could be a good time to get into the business of data storage?
