MIST 7500 - Fall 2013 Executive Summary 4: Internet of Things

As we move further into the next phase of the information age, it has become clear that we need more real-time information to reduce our use of resources and increase profitability. To achieve this, we must collect data of a current state of being and find ways to analyze this data and make hypotheses on future behaviors. This can be done by using sensors and actuators linked in a standard internet protocol array.

Why sensor networks?
• The sensors are affordable to purchase.
• They can be connected using wired or wireless methods.
• Can be linked using the standard internet protocols being used by the World Wide Web.
• Will allow us to analyze our customer’s trends and user experience.
• Existing IT programmers can create programs to collect data and monitor systems.

Challenges
• Where do we install the sensors?
• What do we monitor/measure to give the best ROI?
• Does our IT staff need training to maximize the data collected?

Real-time data is needed for companies to survive in the future. Receiving data that allows us to analyze our customer-base, trends in the market place, and even our own operational habits can mean the difference between hitting growth targets and falling behind the competition. Sensor networks will allow us to monitor and track these trends as they occur. Our in-house analytics team will be able to collect this data and create reports that allow the management staff to better manage the business operations on a daily basis.