Change is inevitable, when it comes to the technology world; the evolving technologies seem to revolutionize the conventional IT landscape. Technological changes happen in the blink of an eye. New products and services are introduced every now and then, making the older versions nearly obsolete. Internet of things (IoT), Big data and The ‘Nexus of Forces’ are few buzz words that are around us for some time.
IoT? What is it all about? IoT refers to uniquely identifiable objects and their virtual representations in an internet-like structure. Analysts call it as the devices & Information connected to the internet. The broader classification is IoE (Internet of everything), which includes Internet of people, Internet of information, Internet of things and Internet of places to name a few.
IoT is comprised of three core components, a collection of smart, connected products, product systems, and other things connected through an internet-like communication infrastructure to a computing infrastructure that are creating new forms of value.
An analogy for better understanding of IoT: Assume an automobile comes developed with a sensor that gauges different safety control aspects such as tire pressure, engine condition, braking system and so on. IoT will prompt you in case of any deviation from predefined parameters and also guides you to the nearest mechanic in a preferred time slot which you can choose based on the availability of the mechanic. Life can’t get any better, isn’t it?
Why do you think every business wants to jump on the ‘IoT’ bandwagon? It is because, Advisory-and-consulting firms across the globe forecast that the devices that are connected to internet are expected to grow from 2 billion to 50 billion by 2020. Further, the IT industry has started developing business models using interfaces of IoE and IoT to strengthen their business.
Next comes the Big data, it includes data sets that are very large for any software tool to capture, curate, manage and process within an elapsed time. Managing the Big data has been a great challenge for the conventional server storage, operating layer which articulates the data, application layer which visualizes the data in different forms and people who design and analyze the data.
With the advent of Social networking sites and new technology devices, many business models are evolving and growing at a very fast pace. Gartner Inc., the world’s leading technology research and advisory company, termed this as “The Nexus of Forces”. Combining four independent trends like social interaction, mobility, cloud and information, “The Nexus of Forces” enable IT leaders to drive the digital workplace, which promotes workplace agility, effectiveness and engagement.
With all these technologies gearing up to shape the business world, many well-known companies are betting high on these technologies and have started investing on the same.