Information Has Become An Invaluable Resource

This paper gives a clear understanding on the current state of art on the IoT. The primary idea of the IoT concept is the pervasive existence around us of a wide range of things such as Radio-Frequency Identification (RFID) tags, actuators, sensors, mobile phones, etc. These are able to communicate with each other and collaborate with their neighbors to reach collective goals through distinctive addressing scheme.

GPS, drones, spying, and nuclear war are all capabilities of the everyday items around us. These “normal” devices such as an iPhone or computer are all part of an enormous web infrastructure called the internet of things (IOT). The internet of things is a link between the online world and the physical world through connected devices which can achieve physical accomplishments such as taking a pulse. The Internet of things was said to have been discovered in 1999 during a presentation at Procter and Gamble. When Business moguls were trying to find a way to make the internet profitable, they manufactured the term internet of things. Ironically, IOT tracked its usage of term online through “Google Trends”. According to Google, since 2004 IOT was

The world is getting smarter and better and so are the devices. With the improved technology, we can check our mails on our watch; control our home temperature through our smartphone and much more. The term Internet of Things is referred to any object or device which connects to the Internet to automatically send and/or receive data [1].

This concept represents the behavioral side of the Internet of Things: that massive proliferation of connected devices, networks, systems and people that promises to help us avoid car accidents, know when our appliances are about to break down, and keep us healthy. For B-to-C companies, though, the sensor-heavy M2M applications might be less important than the device that has almost become a human appendage: our smartphone.

As a business manager it is important to understand the growth of IoT’s, because utilizing an IoT in your business can provide you with information to carry what products customers are looking to purchase. This would enable a manager to stay ahead of the competition and make more sales, by only ordering what your customers are going to buy. The IoT could help a manager make more successful business decisions.

The Internet of things (IOT) is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that 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 comparable to the internet in how it provides communication connections over a large area public network. The internet is used to connect people to each other using device connections to a main stream network. The IoT is currently a conceptual construct of a network system working as a conduit to serve as a direct line of communication for multiple electrical operated objects. In theory if an object has an on/off toggle switch, then the object will eventually be able to be connected to the system. The purpose of the IoT is to provide a medium to connect electrical devices allowing them to work in unison in effort to improve the efficiency of their operations. Advanced algorithms drive these devices to complete complex decision making tasks in real time scenarios to improve the efficiency of their operations (Pye, 2014).

Moreover, the Internet of Things, or as called by others, the Internet of Everything is a seen as a global network of devices and machines that have the ability to interact and communicate with each other (Kortuem et al., 2010, Lee and Lee, 2015). Seven years later, the International Telecommunication Community adapted the definition of IoT in the ITU-T Y.2060 (06/2012) publication stating that the IoT is a global infrastructure for the information society that enables advanced services by interconnecting physical and virtual things on the foundation of current and developing information and communication technologies (ITU, 2015).

Internet of things (IoT) is becoming a hot topic in recent years. Its application is very wide which can be applied to the military, industry, agriculture, power grid and networks, transportation, logistics, energy saving, environmental

Internet of Things (IoT) is the present and future era of the web technologies. It is a global system of IP-associated PC systems, sensors, actuators, machines and gadgets. Blending this physical world with the virtual world of the web and software empowers organizations and appreciate new services that are Internet based business modules. Business models of IoT may varies from types of business such as manufacturing devices or services to operations of the

The main idea behind the working of the Internet of Things revolves around increased machine-to-machine communication or M2M communication as it is called nowadays. It’s built on cloud computing and networks of sensors that can collect data and store it. The Internet of things offers mobile, virtual, and instantaneous connection. It is all about installing sensors (RFID, Bluetooth, GPS etc.) and connecting them to the internet through the use of specific protocols for data transfer and communications, in order to achieve intelligent recognition, location, tracking, monitoring and management (Zhang, Kim, & Mohammed, 2015). Thus, the Internet of things really comes together with the connection of sensors and machines. The real value that the Internet of Things creates is at the intersection of collecting data and using it for future use (Burrus, 2012).

The Internet of Things is a complex, innovative system rooted in the idea of connectivity. Individual artifacts that transmit data and information amongst each other ensure a smooth and coherent experience based off their ability to communicate through internet connection, sharing the same network to create incomparable efficiency and convenience. The Internet of Things is constantly developing to work in new areas and scenarios, further securing its essentiality in the domain of the technological future

According to Forrester in [2] “IoT uses information and communications technologies to make the critical infrastructure components and services of a city administration, education, healthcare, public safety, real estate, transportation and utilities more aware, interactive and efficient”. It has the capability to bring down the cost of all the major sectors like Healthcare, Transportation, Energy, Education and Real State.

In today’s technological culture, businesses are trying to gain a competitive advantage. One way companies are doing this is by utilizing the idea of the internet of things. “The Internet of Things will enable forms of collaboration and communication between people and things, and between things themselves, hitherto unknown and unimagined.” This is the definition based on the standards of the ITU Telecommunications Standardization Sector. The International Telecommunications Union is a specialized agency within the UN that is responsible for issues within information and communication technologies. ITU believes that IoT’s success depends on the existence and smooth and effective operation of global standards. To make it easy to understand, basically the Internet of Things is to have a device that can tell you the news or a refrigerator that can order certain foods for you when you run out. The Internet of Things has developed significantly as time goes by. The IoT is something that people don’t recognize even though they use it every day. Some examples include smart refrigerators, home security systems, a wireless home speaker system and basically anything else that uses the internet to send or receive data. As well as with a great amount of advantages this type of product may bring, it also brings a large number of disadvantages. Specifically, there will be information that will cover how Amazon is using the Internet of Things to make certain actions easier to perform.

The concept of the internet of things abbreviated as IoT was introduced as early as the late 90’s by Kevin Ashton, the Executive Director of Auto-ID Labs and a professor at Massachusetts Institute of Technology. Now, “the Internet of things is already a disruptive technology capable of determining fundamental changes that are happening in everyday life, and it is considered the fourth industrial revolution.” (Hucanu) The Internet of Things (IoT)