10
F. Firouzi et al.
1.1.3 Benefits of IoT
An organization that embraces the Internet of Things can expect greater safety,
comfort, and efficiency. Hazardous environments and workspaces can be more
carefully measured and the dangers more readily managed. The increased information about working conditions allows for decisions to improve comfort and
consequently productivity, for example, a more localized thermostat can show
the differences in the temperatures in specific offices. Adjustments for only those
occupied spaces in temperature or lighting can lead to controlled energy costs and
greater efficiency. Monotonous tasks can be automated, reducing downtime and
yielding faster, more accurate, and greater results. Leveraging benefits like these
can make the workplace more rewarding, and that improves employee satisfaction
and retention and ultimately improved profits and reduces the necessary investment
incurred by employee turnaround.
Organizations can also benefit from more information with which to make business decisions. Using large trends in empirical data means that fewer assumptions
need to be made. It becomes possible to be more responsive to emerging trends.
From a manufacturing standpoint, there is increased visibility into system behaviors.
This can lead to shortened testing cycles and a more optimized production process.
Revenue can also be increased or new streams can be realized by improving current
procedures or making new ones from the increase in available information. IoT is
a unique strategic advantage that early adopters will have over competitors who
choose not to pursue digitalization. A few more benefits of IoT can be listed as
below:
• Efficiency: More information about work/operation processes and rich data sets
obtained from connected sensors leads to process streamlining. IoT enables great
data sharing, and then manipulating the data as needed helps systems to work
more efficiently and make smarter, more informed decisions in real time.
• Transparency: IoT digitizes every process and enables physical objects to remain
connected, providing greater transparency. For example, IoT sensors can identify
the status of the products in a production line or the location of assets in a field
and track inventory and parcels.
• Automation and control: IoT enables the connection and digital control of
physical objects, requiring extensive automation and control within the network.
Without requiring human involvement, machines communicate with one another,
resulting in more time-efficient output. Automation also ensures uniform completion of tasks and the quality of services provided. Human intervention may only
be required in the case of an emergency.
• Accuracy: Monotonous tasks are automated, reducing downtime and errors.
• Monitoring: IoT provides the advantage of monitoring capabilities. Tracking
supply quantities for business or monitoring the air quality of a home is easily
accomplished and provides extensive information otherwise not easily obtained.
F. Firouzi et al.
1.1.3 Benefits of IoT
An organization that embraces the Internet of Things can expect greater safety,
comfort, and efficiency. Hazardous environments and workspaces can be more
carefully measured and the dangers more readily managed. The increased information about working conditions allows for decisions to improve comfort and
consequently productivity, for example, a more localized thermostat can show
the differences in the temperatures in specific offices. Adjustments for only those
occupied spaces in temperature or lighting can lead to controlled energy costs and
greater efficiency. Monotonous tasks can be automated, reducing downtime and
yielding faster, more accurate, and greater results. Leveraging benefits like these
can make the workplace more rewarding, and that improves employee satisfaction
and retention and ultimately improved profits and reduces the necessary investment
incurred by employee turnaround.
Organizations can also benefit from more information with which to make business decisions. Using large trends in empirical data means that fewer assumptions
need to be made. It becomes possible to be more responsive to emerging trends.
From a manufacturing standpoint, there is increased visibility into system behaviors.
This can lead to shortened testing cycles and a more optimized production process.
Revenue can also be increased or new streams can be realized by improving current
procedures or making new ones from the increase in available information. IoT is
a unique strategic advantage that early adopters will have over competitors who
choose not to pursue digitalization. A few more benefits of IoT can be listed as
below:
• Efficiency: More information about work/operation processes and rich data sets
obtained from connected sensors leads to process streamlining. IoT enables great
data sharing, and then manipulating the data as needed helps systems to work
more efficiently and make smarter, more informed decisions in real time.
• Transparency: IoT digitizes every process and enables physical objects to remain
connected, providing greater transparency. For example, IoT sensors can identify
the status of the products in a production line or the location of assets in a field
and track inventory and parcels.
• Automation and control: IoT enables the connection and digital control of
physical objects, requiring extensive automation and control within the network.
Without requiring human involvement, machines communicate with one another,
resulting in more time-efficient output. Automation also ensures uniform completion of tasks and the quality of services provided. Human intervention may only
be required in the case of an emergency.
• Accuracy: Monotonous tasks are automated, reducing downtime and errors.
• Monitoring: IoT provides the advantage of monitoring capabilities. Tracking
supply quantities for business or monitoring the air quality of a home is easily
accomplished and provides extensive information otherwise not easily obtained.