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IoT Decision Framework
An organized method for developing a potent IoT product strategy is offered by the IoT decision framework. Making strategic decisions is the main focus of the IoT decision framework. The IoT Decision Framework guarantees consistency in all of the technical, strategic, and business decisions and assists us in understanding the areas where it must make judgements.
As the goods or services connect over networks and traverse through five different technological levels of complexity, the Internet of Things decision framework becomes even more crucial.
- Device Hardware
- Device Software
- Communications
- Cloud Platform
- Cloud Application
Decision Area
The six main decision areas for any IoT product are taken into consideration by the IoT decision framework. These areas of decision-making are:
- User Experience (UX)
- Data
- Business
- Technology
- Security
- Standards & Regulations
At every stage of the IoT Technology Stack, each of these decision areas is assessed. To improve user experience, the user experience will be assessed at the hardware and software levels of the devices. It must then investigate data considerations for each stage of the IoT Technology Stack at the following step, Data Decision Area.
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Let’s examine each of the IoT Decision Framework’s decision areas in more detail:
- Decision Area for User Experience: Here, it focus on the users, their needs, and how to deliver a positive experience at every stage of the IoT stack without becoming bogged down in the technical specifics.
- Data Decision Area: To meet user needs, it develop the whole data strategy here, including how data flows throughout the IoT stack.
- Business Decision Area: To decide how a product or service will become financially viable based on the judgements made in the preceding area. The costs of providing services are monetized at every level of the IoT stack.
- Technology Decision Area: To enable the ultimate solution, to collaborate with the technology for every layer in this area.
- Security Decision Area: Following technology deployment, it’s critical to determine and offer security at every Internet of Things Stack level.
- Rules and Guidelines Decision Area: In the final phase of the IoT Decision Area, it determine whether product or service standards and regulations will have an impact on your product at each IoT Stack tier.
Inflection point in this technology adoption can be attributed to a few important factors
Sensor technology is undergoing a revolution with the introduction of new sensors that can nearly perceive every important fundamental characteristic, their miniaturization, and their steadily declining costs.
Connectivity Revolution: Over the course of around 25 years, wireless connectivity has undergone five generations of revolution. 4G networks are fully established in the majority of regions and provide extremely high data bandwidth. Trials for 5G are already advanced. Within the following two to three years, the installation of a production-ready network could take place at any time. 5G networks will provide a number of benefits. Some of the benefits that are anticipated to significantly increase IoT adoption include 10 times greater bandwidth than 4G, ultra low latency, improved connection and network availability, etc.
Large-scale implementation of cloud-enabled services: Over the past ten or so years, cloud-enabled services have grown significantly. Compared to in-house, standalone data centres, the cloud has several advantages. Among these are multi-tenancy, faster service launches, higher availability, and rapid scaling. These days, cloud platforms and services come in a variety of forms depending on the particular requirements of the company. The players in the cloud platform are providing enormous services. All of the major players, including Google (Google Cloud), Amazon (AWS), and Microsoft (Azure), have begun to provide complete stack services for quick development on their cloud.
Developments in Artificial Intelligence, Deep Learning, and Machine Learning: As objects get smarter, the true value of the Internet of objects becomes apparent. They are capable of learning on their own, communicating, negotiating, and executing the applications that are most appropriate for achieving the greatest results with the least amount of disturbance and human engagement. New developments in artificial intelligence, machine learning, deep learning, and natural language processing pave the way precisely in that direction. Every day, new applications for these technologies are developed, and numerous companies are utilising the intelligence that is produced.
IoTfying Your Company What it means specifically
Daily company operations include a lot of manual interaction. There is an extra expense associated with each of these manual interventions. For each manual operation, there are labour costs associated with carrying out these procedures as well as costs associated with waiting time loss for other dependent processes. Errors may occur during human execution of quality control, and each time one occurs, the cost of fixing it could be very high. Sometimes it goes beyond money, leading to a loss of business or damage to the company’s reputation.
IoTfying essentially entails determining every possible scenario for extreme automation and implementing cutting-edge industry best practices for automation, which will lead to notable increases in revenue generation, cost effectiveness, and consistent and enhanced quality. IoTfying will help businesses develop new, creative business models, new methods to interact and service customers, and new ways to work with partners and suppliers.
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