What Is IoT?
The Internet of Things (IoT) describes the network of physical objects—“things”—that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the internet. These devices range from ordinary household objects to sophisticated industrial tools.
Unlock Business Value with IoT
As IoT becomes more widespread in the marketplace, companies are capitalizing on the tremendous business value it can offer. These benefits include:
- Deriving data-driven insights from IoT data to help better manage the business
- Increasing productivity and efficiency of business operations
- Creating new business models and revenue streams
- Easily and seamlessly connecting the physical business world to the digital world to drive quick time to value
What Are IoT Applications?
Business-Ready, SaaS IoT Applications
IoT Intelligent Applications are prebuilt software-as-a-service (SaaS) applications that can analyze and present captured IoT sensor data to business users via dashboards. Oracle has a full set of IoT Intelligent Applications.
IoT applications use machine learning algorithms to analyze massive amounts of connected sensor data in the cloud. Using real-time IoT dashboards and alerts, you gain visibility into key performance indicators, statistics for mean time between failures, and other information. Machine learning–based algorithms can identify equipment anomalies and send alerts to users and even trigger automated fixes or proactive counter measures.
With cloud-based IoT applications, business users can quickly enhance existing processes for supply chains, customer service, human resources, and financial services. There’s no need to recreate entire business processes.
What Industries Can Benefit from IoT?
Organizations best suited for IoT are those that would benefit from using sensor devices in their business processes.
Manufacturers can gain a competitive advantage by using production-line monitoring to enable proactive maintenance on equipment when sensors detect an impending failure. Sensors can actually measure when production output is compromised. With the help of sensor alerts, manufacturers can quickly check equipment for accuracy or remove it from production until it is repaired. This allows companies to reduce operating costs, get better uptime, and improve asset performance management.
The automotive industry stands to realize significant advantages from the use of IoT applications. In addition to the benefits of applying IoT to production lines, sensors can detect impending equipment failure in vehicles already on the road and can alert the driver with details and recommendations. Thanks to aggregated information gathered by IoT-based applications, automotive manufacturers and suppliers can learn more about how to keep cars running and car owners informed.