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The Internet of Things: From Things to Valuable Outcomes
Abstract
Objects become embedded and gain the ability to communicate. The resulting information networks promise to create new business models, improve business processes, and reduce costs and risks. The massive numbers of connected things and the explosion of data generated by these things will change the way we do business forever. Connected devices are proliferating in a communicating and actuating network named “Internet of Things” (IoT) wherein sensors and actuators blend seamlessly with the environment around us, and the information is shared across platforms in order to develop a common operating picture (Gubi et al., 2013). The IoT digitizes the physical world and is a basis for new business models whose main objective is to integrate or connect things. This chapter outlines the key enabling technologies, drivers and business value as well as benefits and challenges.
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