Scribd
Upload
65 views6 pages

Cfam Assingment @2

This document discusses recent developments and applications of emerging IoT technologies, along with their pros and cons for businesses. It outlines how IoT is being used in smart stores, smart cities, marketing, healthcare, and more. Key benefits to businesses include lower operating costs, increased productivity and safety, and better customer experiences through data insights. However, IoT also presents security, technical, and cost challenges that businesses must address.

Uploaded by

Gunjan Khanna PGDM-2022
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
65 views6 pages

Cfam Assingment @2

This document discusses recent developments and applications of emerging IoT technologies, along with their pros and cons for businesses. It outlines how IoT is being used in smart stores, smart cities, marketing, healthcare, and more. Key benefits to businesses include lower operating costs, increased productivity and safety, and better customer experiences through data insights. However, IoT also presents security, technical, and cost challenges that businesses must address.

Uploaded by

Gunjan Khanna PGDM-2022
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 6

PGDM I SEMESTER

PGDM105 – computer fundamental and application in management


Assignment- 2
END TERM

Date of Assignment:11/11/22 Date of Submission: 21/11/22

Submitted to: Submitted by:


Rekha (GUNJAN KHANNA)
(ABS/PGDM/22/015)
Q. What are some of the recent developments for emerging
IoT technologies? Also, Discuss their pros and cons in the
Business world.
The Internet of Things (IoT) refers to the ever-growing network
of physical objects that feature an IP address for internet
connectivity, and the communication that occurs between these
objects and other Internet-enabled devices and systems. in simple
words, Internet of Things (IoT) is an ecosystem of connected
physical objects that are accessible through the internet. It is also
referred to as Machine-to-Machine (M2M), Skynet or Internet of
Everything.

Why IoT?
Dynamic control of industry and daily life.
Improves the resource utilization ratio.
Integrating human society and physical systems.
Flexible configuration.

Acts as technology integrator.


Universal inter-networking

Corporate aspect
Corporate aspect IoT is a transformational force that can help
companies improve performance through IoT analytics and IoT
Security to deliver better results. Businesses in the utilities, oil &
gas, insurance, manufacturing, transportation, infrastructure and
retail sectors can reap the benefits of IoT by making more
informed decisions, aided by the torrent of interactional and
transactional data at their disposal.
The business potential of the IoT and benefits such as
higher efficiencies and improved customer relations,
largely depend on timely and productive analysis of the
mountains of data IoT sensors generate.
Pros of IoT in business
1. Lower operating costs
2. Increased productivity and workplace safety
3. Better customer experiences
4. More business insights

Cons of IoT in Business


1. Security and privacy
2. Technical complexity
3. Connectivity and power dependence
4. Integration
5. Higher costs (time and money)

IoT devices can be useful to businesses today but only if they


know what they're getting into. And these are just some of the
benefits and disadvantages. With a little planning, businesses will
have a better idea of what they need and how IoT devices can
help.

The Internet of Things, or IoT, is the name that the IT folks have
given to the now billions of physical devices throughout the world
that are connected to the internet. These devices not only collect
data, but they share it as well. Through the proliferation of
wireless networks as well as cheap processors, it’s now possible
to turn a multitude of physical objects into an IoT device. These
things can range from a smart thermostat in your home that you
control with your smartphone, to a sophisticated driverless car
that’s filled with hundreds of sensors collecting and transmitting
data back to make sure it is operating efficiently.

Smart Stores
in 2019, smart lighting devices, video feeds and Wi-Fi enabled food traffic-
monitoring software allows store owners to collect info about customer
traffic patterns in the shop, how much time they spend in each of its aisles
and how they interact with products on display. After analysing this data,
retailers are able to change the way they lay out their merchandise and
decide how much of it they put on display or even change their entire store
layouts to enhance them in line with knowledge they have gained about
customer behaviour.

Smart Cities
IoT to track the condition of its traffic lights. If one malfunctions,
the system notifies utility companies so that they can quickly send
a technician to solve the problem. Besides traffic lights, the IoT is
being put to use in creating smart common areas in cities around
the world. Sidewalk Labs, owned by Alphabet, the parent of
Google, is building a smart neighbourhood in Toronto. Smart
sensors are being installed around the neighbourhood that will
record everything from shared car use, building occupancy,
sewage flow, and optimum temperature choices around the clock.
The goal is to make the neighbourhood as safe, convenient, and
comfortable as possible for those who live there. Once this model
is perfected, it could set the standard for other smart
neighbourhoods and even eventually entire smart cities.
Implementation of IoT into Marketing

Implementation of IoT into Marketing


Marketing companies all around the world are making great use
of IoT developments and Big Data to target their clients.
Advanced analytics make it possible to target niches in better and
effective ways. With all the data coming in through edge
computing, it has become possible to know the effects of
marketing campaigns in real time instantaneously. Companies
will be able to better determine what to spend when to spend
during various seasons. These are just a few aspects how IoT will
be facilitating marketing efforts in the longer run.
IoT in healthcare

IoT is a trend that is driving the ongoing digitization and datafication of


society in many new and amazing ways. Self-driving cars, autonomous
manufacturing robots, and remote medical devices that let doctors
diagnose patients and even carry out surgery are all possible due to these
networks of connected things. In fact, Ericsson predicts that by 2022, there
will be around 29 billion of these devices connected to the internet globally.
So, let’s take a look at what are likely to be some of the most important
drivers and innovations in this field during 2022.
Security
The huge growth in the number of devices connected to the
internet inevitably means there is an ever-increasing number of
ways our technology can be hacked or exploited by those with
bad intentions towards us. The number and size of cyber-attacks
are increasing every year – security researchers at Kaspersky say
there were 1.5 billion attacks against IoT devices during the first
half of 2021 - and during 2022, it's certain we will see this trend
accelerate. IoT devices provide access points to our personal
networks because they are often not as secure as devices that are
traditionally used to store sensitive data, such as computers or
smartphones.

You might also like