The internet and contemporary business environments

Introduction Internet users per population members and GDP per capita for selected countries. It is a network of networks that consists of private, public, academic, business, and government networks of local to global scope, linked by a broad array of electronic, wireless, and optical networking technologies. The Internet carries a vast range of information resources and services, such as the inter-linked hypertext documents and applications of the World Wide Web WWWelectronic mailtelephonyand file sharing.

The internet and contemporary business environments

History[ edit ] The definition of the Internet of things has evolved due to convergence of multiple technologies, real-time analyticsmachine learningcommodity sensors, and embedded systems. The extensive set of applications for IoT devices [31] is often divided into consumer, commercial, industrial, and infrastructure spaces.

A smart home or automated home could be based on a platform or hubs that control smart devices and appliances.

These features can include sensors that monitor for medical emergencies such as falls or seizures. Byit is estimated that EIoT will account for 9.

These health monitoring devices can range from blood pressure and heart rate monitors to advanced devices capable of monitoring specialized implants, such as pacemakers, Fitbit electronic wristbands, or advanced hearing aids.


It can also adjust itself to ensure appropriate pressure and support is applied to the patient without the manual interaction of nurses. The IoT can assist in the integration of communications, control, and information processing across various transportation systems.

Application of the IoT extends to all aspects of transportation systems i. Dynamic interaction between these components of a transport system enables inter and intra vehicular communication, [58] smart traffic controlsmart parking, electronic toll collection systemslogistic and fleet managementvehicle controland safety and road assistance.

If combined with Machine Learning then it also helps in reducing traffic accidents by introducing drowsiness alerts to drivers and providing self driven cars too.

Building and home automation[ edit ] IoT devices can be used to monitor and control the mechanical, electrical and electronic systems used in various types of buildings e. In this context, three main areas are being covered in literature: Based on such a highly integrated smart cyberphysical space, it opens the door to create whole new business and market opportunities for manufacturing.

Measurements, automated controls, plant optimization, health and safety management, and other functions are provided by a large number of networked sensors. IIoT in manufacturing could generate so much business value that it will eventually lead to the fourth industrial revolution, so the so-called Industry 4.

It is estimated that in the future, successful companies will be able to increase their revenue through Internet of things by creating new business models and improve productivity, exploit analytics for innovation, and transform workforce. Among all the technologies, predictive maintenance is probably a relatively "easier win" since it is applicable to existing assets and management systems.

The objective of intelligent maintenance systems is to reduce unexpected downtime and increase productivity.

The internet and contemporary business environments

Cyber-physical systems can be designed by following the 5C connection, conversion, cyber, cognition, configuration architecture, [67] and it will transform the collected data into actionable information, and eventually interfere with the physical assets to optimize processes.

However, without sensing and intelligent analytics, it can be only determined by experience when the band saw belt will actually break.

The developed prognostics system will be able to recognize and monitor the degradation of band saw belts even if the condition is changing, advising users when is the best time to replace the belt. This will significantly improve user experience and operator safety and ultimately save on costs.BUSINESS | Data Driven & Innovative.

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More objects and devices are connected to digital networks than ever before. Things - from your phone to your car.


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