The term “Internet of Things” isn’t new. Almost 20 years ago, MIT professors described a world where “things” (devices or sensors) are connected and able to share data. Data coming from these devices and sensors provides business insights that were previously out of reach. The invaluable insights enabled by harnessing and analyzing the data from these connected devices are what the Internet of Things is all about; infact – Internet of Everything
According to a latest survey by KPMG, the CIOs are bombarded with disruptive technologies like IoT, Cloud, Big Data, Analytics. Today the Internet of Things is at an inflection point. Although technology experts for decades have anticipated a world of billions of smart, connected devices, multiple factors have converged recently to accelerate adoption of IoT scenarios in business. There in emerges Analytics of Things
Despite the challenges CIOs face, the benefits of embracing new technologies can be many, starting with productivity gains, cost efficiencies, quicker innovation cycles and increased organizational value. The most successful businesses will be those that can most effectively prioritize, evaluate and implement emerging technology opportunities as part of their overall company strategy..
Organizations across the world have been solving problems in the machine-to-machine (M2M) space for years. Collecting information from machines enables organizations to integrate this information into their business processes to make more intelligent decisions, reduce costs, and create new revenue streams.
The Internet of Things has kept plenty of technology journalists busy during the past year, but few have answered the most important questions of how to make it relevant to your business today. Instead, it often seems overwhelming, complicated, and expensive. It’s no wonder many companies are uncertain about implementing an IoT strategy.
Gartner has quoted– The global IoT market is poised to grow briskly, from about 4.9 billion connected devices in 2015 to a projected 21 billion by 2020. IoT technology is projected to support $235 billion in services spending in 2016, a majority of that on professional services to design, install, and operate IoT systems.
Why Now IoT?
- Reducing Hardware costs – The costs of sensors, devices, microchips and related components have fallen as the demand and volumes have increased. Thanks to the latest brains, the microchips are better equipped to handle complex algorithms and activities.
- Better Connectivity and Spectrums – With better mobile networks and modes of connectivity, its easy to embrace the Internet of Things, unlike yesteryears, where only option was wired connections.
- Advanced Software – Today’s rich, dynamic business software is putting high-level data analysis capabilities into the hands of companies around the globe.
- Cloud based solutions – Oracle Cloud IoT, AWS IoT Platform, Azure IoT, IBM BlueMix and many many providers have arrived into IoT space, with array of services such as Computing power, Cloud storage and mix of IoT solutions; thereby expanding the capability to analyze huge amounts of data.
- Cost Savings and Benefits – The Internet of Things has the potential to create economic impact of as much as $11.1 trillion per year by 2025, according to McKinsey Global Institute.
- B2B is the Key – McKinsey Global Institute estimates that B2B uses can generate nearly 70 percent of potential value enabled by IoT, than the hyped consumer and individual applications
What are we doing here?
At JDESource, we will initially try to understand the challenges of IoT implementation and then try to define few business cases and start with barebones of implementing some pieces.
We will focus on Oracle’s JD Edwards EnterpriseOne Internet of Things (IoT) Orchestrator – The Technology Framework
The JD Edwards EnterpriseOne IoT Orchestrator, delivers a solution that integrates the operational with the information side of technology by providing the mechanism and processes to receive and aggregate the data from various types of devices, integrate and secure those data, and then to pass them to JD Edwards ERP applications for analysis and action. JDE IoT Orchestrator is available from Tools Release 9.1.5 onwards. But in the latest TR – 22.214.171.124, we have something called the Orchestrator Studio.
Studio gives a better perspective and is aligned with the Oracle’s motto of Citizen developer. The new IoT Orchestrator Studio provides an intuitive graphical user interface that allows a business analyst to create the rules, cross-references, and service requests that make up an IoT orchestration. The graphical user interface of the IoT Orchestrator Studio enables business analysts to build and deploy their own orchestrations without requiring programming skills.
Let know your comments!!!
To be continued…