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Scholarly information regarding the latest advancements in the field of Internet of Things and how it is changing businesses

Modernize Your Business with the Internet of Things

By Elizabeth Leber on Aug 9, 2017
connecting businesses image
The Internet of Things is not only a pertinent topic creating buzz at the Academy of Management (AOM) Conference, but it is advancing businesses on a global scale. The AOM 2017 theme At the Interface delved into the topic of Internet of Things (IoT) and its relevance in the business world. Trending research focused on IoT provides the resources for businesses to refrain from becoming stagnant in a time where technology is the key to booming success.

Dr. Marcus Tanque says, "The Internet of Things (IoT) is rapidly shifting the technology and business landscapes. Workplace changes can be supported by converging physical and digital solutions. This includes developing advanced autonomous systems and intelligent devices. For instance, significant changes in the IoT environments are being triggered by sensors, processors, and actuators."

Tanque is a respected independent researcher in the field of Internet of Things and has contributed to countless IGI Global publications pertaining to this expanding research. The latest chapter Tanque has contributed to is "Big Data and Cloud Computing: A Review of Supply Chain Capabilities and Challenges" in the title Exploring the Convergence of Big Data and the Internet of Things, which is projected to release in September 2017. This publication, edited by A. V. Krishna Prasad (K.L. University, India), is a pivotal reference source featuring the latest empirical research on the business use of computing devices to send and receive data in conjunction with analytic applications to reduce maintenance costs, avoid equipment failures and improve business operations.

"IoT is an emerging technology, which incorporates device-to-device, machine-to-machine, device-to-cloud, machine-to-person, vehicle-to-vehicle, and system-to-system. Key specifics in IoT include new sensors, actuators, and other monitoring devices. The integration of wired and wireless systems in IoT environments offers consumers and organizations improved system interoperability. These objects allow for sharing & provisioning data, processing information, and providing real-time device monitoring over the Internet. IoT solutions offer improved technology interoperability with disruptive zero time, redundancy, self-healing, and enhanced infrastructure performance. Its solutions offer better quality of service, increased productivity, reduced operational cost effectiveness, seamless data flow, and improved energy consumption," explains Tanque.

A recent Forbes article captures the major IoT shift that is occurring in this domain in 2017, which supports Tanque's cutting-edge research. This article also elaborates on how IoT increases speed and automation, which enhances work flow and provides more opportunities for both employers and employees.

According to Tanque,

"IoT technology changed the way business is done in the 21st century."
He further explains "This solution continues to bridge the global technology divide amid: big data, cloud, artificial intelligence, machine learning, and advanced analytics solutions. The concept involves converging unified resource sharing and data provisioning over the cloud. In recent years, the media, academic, technology, research, and business environments relied on IoT technologies to collect, process, distribute, and share information. Integrating physical objects into distributed/decentralized environments increases hardware components and application solutions. IoT continues to dominate businesses, technology, academic, and individual lives. This includes finding innovative ways to integrate e-commerce and traditional retailers’ capabilities into IoT technology competitive technology/marketing advantages."

In view of the rapid strides IoT has had in the business world, it is important to consider what the future holds for this emerging technology since there are times when developments happen too quickly and there are unforeseen setbacks later.

Tanque states, "The future of IoT is very promising. This ranges from integrating forward-thinking supply chain solutions with device-to-system capabilities. The adoption of radio frequency identification, big data analytics, blockchain, cloud computing, and supply chain solutions is key to advancing IoT technology. This offers businesses pioneering capabilities for sharing data over the Internet. IoT is a technology platform that researchers, academics, and practitioners will rely on to conduct research and other exploratory activities in future. To successfully carry on these activities, organizations must modernize business and technology models to satisfy present and future IoT requirements."

Even though there are many significant advancements surrounding this new development,Tanque understands the significance of examining negative implications that coincide with this technology as well. He does so in several of his publications, including his chapter "Security for Hybrid Mobile Development: Challenges and Opportunities" within the title Advancing Cloud Database Systems and Capacity Planning With Dynamic Applications. Be sure to check out Tanque's extensive contributions on IoT to further progress businesses.
Many thanks to Dr. Marcus Tanque for taking the time to share his renowned expertise in the growing field of Internet of Things. Be sure to share any comments below.
Disclaimer: The opinions expressed in this article are the author’s own and do not reflect the views of IGI Global.
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