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The Internet of Things

The Internet of Things

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Published by Ted Janusz
An internet-enabled toilet? Through the magic of WI-fi, everyday things you use will be able to talk with each other. How will this affect your life?
An internet-enabled toilet? Through the magic of WI-fi, everyday things you use will be able to talk with each other. How will this affect your life?

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Published by: Ted Janusz on Apr 04, 2014
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07/05/2014

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THE INTERNET OF THINGS

ByTedJanusz

ow long does it take you to find out about a malfunctioning parking meter? How many meters do you have that are not working at any given time? And how much money do you lose while each device is inoperable?
What if the lighting systems or barrier gates in your parking garage could indicate by themselves when they were malfunctioning or, better yet, notifi, you when they are about to have a problem?
engine light comes on, the trouble code plus relevant

information couldbe sent directlyto a service center for evaluation without the owner having to visit?

*

w
TED JANUSZ is a professional speaker
on the topic of

With the latest trend in information technology, that notification may become a reality, and a lot sooner than you may think. It's called the Internet of Things (IoT), and through the magic of wi-fi, your machines and devices will be able to talk with vou-and even with each other!

Service will become more proactive. Who wouldn't want to get a call from a service technician telling him that that funny noise the washing machine is making will soon turn into a major problem that can be averted?

Real BusinessValue
The IoT "is where you add real business va1ue," says Robert Stroud, vice president ofinnovation and strategy, CA Technologies. "Where an IT person is not just running machines anymore, but fu ndamentally taking good information and helping the business make true business decisions so that they can adjust the business in real time based on this information. If used well,

How Big CouldThis Get?
a

According to

report from the McKinsey Global In-

stitute, the eventual connectingofbillions of ordinary

will add between $2.7 trillion and $6.2 trillion per year to the global economy by 2025. General Electric, on the other hand, estimates that what it deems the Industrial Internet will boost global gross domestic productby $15.3 trillion in 2030.
devices to the internet

you'll be able to spot trends and opportunities far
faster than you could in the past."

You might be concerned that this particular advancement in technology may come too soon and too fast. Tom Petrocelli of ClfSWlre, an online magazine, agrees. "Some devices should never be internet-enab1ed," says Petrocelli. "The idea of an internet-enabled toilet-and yes, such a thing has been demonstrated-is truly horrifying. Where will humanity be able to get a few minutes of peace

Just like with social media, privacy will be a critical factor in the evolution ofthe IoT. According to ISACAs 2013 IT Risk/Reward Barometer report, consumers are concerned about hackers accessing their information. On the other hand, most IT professionals surveyed beiieve consumers should instead be concerned with the analysts who will be accessing their information and how they will use
the data once it is collected.

"Social Media for
Baby Boomers," author, and marketing consultant. He is the author of the Socral

from the relentless shrill cry of the advertisers and salespeople if everything that a person can
possibly own is connected to the internet with a
salesperson?"

Big Data Can Bring Big Challenges
Will businesses be ready to reap the rewards of the IoT? "Businesses tend to be organized into functional teams," says technology expert Brian Promft. "Each of these teams has a separate and distinct function: purchasing, logistics, accounts payable, accounts receivable, marketing sales-useful processes that, for the most part, don't work together except on a transactional basis. The influx ofdata from the Internet of Things (and, really, any big data implementation) can easily disrupt the team-based business model. Information from the Internet of Things wi1l be huge and potentiaily actionable at an incredibly fast pace. It's just not ciear that business is going to be ready to
keep up."

Media Marketing
Guide for Parking

Enabling Better Service and Support
The IoT could bring a big benefit in the area of service and support in three key ways, says Petrocelli: * It will make service and support available right from the product. The device (and the company that makes it) helps initiate the seruice request and doesn't have to wait for the owner to go looking for
a way to contact the selice center. * Embedded service capabilities will gather informa-

Professionals,which is a free publication for lPl members and
can be downloaded from parking.org/ socialmediaguide.
He can be

reached at t+d[q)
ja

nuspreseniations.

**m or 614.440.7487.

tion critical to the problem and send it directly to the people who can fix it. Wouldn't it be great it when the
TNTERNATIONAL pARKTNG TNST|TUTE lnenrL- ZOr+

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