Tracker-IOTis in the Geographic Information Systems Industry

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The fundamentals for starting an IoT project that provides continuous, recurring value So you’re thinking about starting an project. The question is, what do you build? How do you build it? Or, what is an IoT project? Let’s start with that last question, shall we: IoT What is an IoT Project? An IoT project is the act of connecting any physical object to the Internet to collect and share data. How we use and share that data depends on the purpose of the IoT project. Whether you’re connecting windmills to monitor performance data, or connecting machinery to monitor itself for breakage, the data generated from these projects can be used in a variety of ways. With the right hardware, software, connectivity, and know how, you can connect any object in the home, factory, or farm and stream data to the Internet. The Challenges of IoT Projects The Internet of Things industry gives businesses from every sector the opportunity to optimize their operations, develop new revenue streams, and enhance customer relations. According to a study, 60% of adopters predict IoT will transform their organizations, cut down on expenses, and generate substantial amounts of new revenue within the next five years. 40% of those adopters expect to see a meaningful payoff in just three years. However, companies that try to skip the research and development process and jump straight to deployment will fail to see optimal results. Gartner technology That’s because many companies work backwards by imagining the connected product first, and then the value proposition. These IoT projects are hardly ever successful because the company never took the time to fully understand the problem they were trying to solve. How to Deploy an IoT Project Successfully In contrast, successful IoT projects first understand the day-to-day problems the customers and the business have, and then imagine a connected product that can help solve those problems. After you figure this out, you can start to develop a feasible implementation strategy, set realistic goals and expectations, and streamline the deployment process. Like every other major business undertaking, this requires thorough planning and testing. This article proposes an actionable step-by-step process to thoroughly understanding how IoT can help your business, and the ways you can get started building your first IoT project. 1. Learn the basics Before you even start your IoT project, you need to develop a basic understanding on how IoT technology works. Take the time to learn how other product creators and businesses use IoT to solve problems and educate yourself enough to ask questions, such as: Important Questions: What are the common use cases for IoT? ( ). And does your IoT project fall under one of these use cases? e.g., Preventative Maintenance, Asset Tracking, Environmental Monitoring, Remote Monitoring, Compliance Reporting, etc Can I create a business model around connectivity that justifies the recurring cost incurred by connected devices? What are the important technology choices and considerations I need to take into account? 2. Identify your use case Touching on the first question in the prior step, IoT is incredibly versatile and can be used in a variety of ways. There is simply no way you could list all the possible use cases, but there are proven methods that provide continuous, recurring value for the companies that use them. Common, widespread IoT use cases include: — You can connect your machines or equipment and receive alerts the minute something starts to go wrong. For example, are connected to the Internet and alert distributors and owners the minute something starts to go wrong. Preventive or Predictive Maintenance Jacuzzi’s hot tubs — IoT technologies allow companies to monitor their constantly moving assets (like equipment or vehicles) in real time. With increased visibility, they can solve problems before they occur. For example, to give administrators the ability to track and monitor school buses in real time remotely. Asset Tracking SafeTransport utilizes Particle’s asset tracker — IoT sensors can be used for commercial farming, water monitoring, and more. By protecting valuable resources, companies can deliver recurring value for customers and their business. For example, like sulfur dioxide and particulate matter in Hawaii with connected sensors. Environmental Monitoring scientists are monitoring real-time measurements of hazardous fumes — IoT technologies allow companies to automatically receive alerts when consumables elements (like fuel, oil, filters) are low, which allows them to forecast demand and more. Automatic Refillment — IoT devices track the energy, water, and gas consumption of buildings and homes, reducing operating expenses and improving forecasting. Smart Metering — Companies can create a high-end connected product and sell it at a premium. However, the product must introduce novel functionality or improve services that are valuable for the customer for this to work. Consumer Upsell These IoT business models have proven to help product builders and businesses make money with their IoT projects. Of course, you have to pair these business models with the questions in step one to create an IoT project that delivers continuous, recurring value for you and your customers. 3. Researching and Selecting an IoT Platform / Tools One way of illustrating an IoT platform Before starting your IoT project, research the best IoT platforms, tools, and applications that could help you successfully implement your IoT product. Selecting the optimal framework is a critical part of a IoT project, and the right platform will be capable of growing with your business and adapting to future technological advancements. When examining IoT platforms, these are the types of things you should be examining or looking for based on your solution: Does the vendor offer any off-the-shelf applications, developer kits, or starter packages for the specific use case you are targeting? You will likely have to do some customization, but not having to start from scratch can save significant time and effort. Hardware — — How does the vendor allow you to monitor, segment, and manage IoT devices that are out in the field? Device Management — How well does the vendor’s network coverage fit your business’s current and future initiatives? Connectivity — What type of connectivity do you need? Do you need a Wi-Fi or cellular solution for your IoT product? You need to assess these needs and see how the vendor can address them. Method of connectivity — Do they provide an embedded SIM with global support? Does the IoT platform cover the regions your business needs? Geographic Coverage — How does the IoT platform describe and sell themselves? Some services are purely connectivity platforms, while others are end-to-end solutions that offer the hardware, software, and connectivity. You need to assess what your business needs. How will your needs change over time? Type of service 4. Choosing the Right IoT Hardware For Your IoT Project IoT development boards and modules are at the center of every IoT project. As IoT has developed, the variety and technical capabilities of these boards has only become more complex. When starting an IoT project, you’ll want to start with a simple prototyping kit, but as you progress through the hardware development and design process, you’ll need to invest in hardware boards that are designed for scaling. This may cause you to ask, what is the difference between ? Here is an example between prototyping and production hardware, and their intended purposes: prototyping and production hardware Prototyping Hardware — Development kits (DKs) Development kits are breadboard friendly and optimized for expandability, modularity, and ease-of-use. As a result, they can be used for scaling depending on the use case and application, but maybe best used as short term PoCs in friendly environments. — Useful for iterating/prototyping hardware and firmware systems quickly. It provides a quick start solution and gets an IoT project rolling. Intended use — USB connectivity, ecosystem of hardware accessories, breadboard-able headers, RGB status LED, on-board antenna, affordable costs Features — Hobbyist developers, engineers very new to hardware Audience — , Examples Argon Boron Production Hardware — Mass Production Modules (MPMs) Mass production modules are optimized for deployment in a mass production product, not for development. These are the real deal, intended for deployment for 5–10 years in hostile environments and small spaces. These products have little utility until they are soldered into your end product. — Deployment in a mass production product Intended use — Certifications, hardware warranty and support, environmental robustness, optimized for size and manufacturability Features — Companies manufacturing products at scale Audience — Examples E Series For your IoT project, you’ll want to start with some form of a development kit to get your first prototype up and running. But after you’ve proven concept, you’ll want to transition to production hardware, like mass production modules, to ensure long-period deployments. 5. Building Your First IoT Prototype Developing a prototype allows you to discover the minimum parameters you need for your IoT project before full deployment. A thorough prototype simulates the basic and most important components of the final IoT product. To create a successful prototype, you should ask yourself the following questions: Can I validate the use case by accurately measuring the data I’m after? Which features and data are most important to the success of the initiative? What are the most expensive and challenging design requirements? Are there any features in the design that will go unnoticed and unused? Which demands does the design not satisfy and how problematic is that? In reality, when it comes to prototyping, there isn’t a clean roadmap to follow. If you’re unfamiliar to product development, this process can be challenging. However, there are tons of resources available to get inspiration and help from real IoT experts: — Particle’s community offers a supportive team of IoT experts who can answer any of your IoT project questions and concerns. Particle Community — Hackster.io offers a development community for learning and building an IoT project. You can take inspiration from the thousands of IoT projects that are listed on their website. Hackster.io — Adafruit is the go-to place to learn anything about building IoT projects. They offer tons of resources, hardware, and guides to help you get started. Adafruit — While primarily for programmers, Stackoverflow has a large supportive community that can you help answer your IoT-related questions. Stackoverflow 6.Find an IoT Partner (i.e. Determine Your Skillsets And What You’re Missing This step is a little interchangeable and may need to be completed before you even start building your first prototype. Regardless, if you’re planning to develop an IoT project at scale, you may need to find a partner or domain experts who can help you build your product. According to a (2017), over 60% of respondents admitted that they substantially underestimated the complexities of managing their own IoT initiatives. Even more alarming, the same survey also found that 75% of self-initiated IoT projects were considered a failure. Cisco survey However, the same Cisco survey found that most companies that consult IoT domain experts throughout the project’s lifecycle finish on time. Companies that go it alone often exceed their initial timelines and find that they lack the internal expertise to keep the project up and running. Unfortunately, by the time companies realize that they need additional expertise, they are deep into the development process, making pivoting exponentially more costly. To successfully deploy an IoT product, you need to assess the skillsets that are needed to build an IoT device. While there a number of potential experts you need, here is short list of the most important skill sets needed to complete an enterprise IoT project: Embedded firmware engineers develop and implement the reprogrammable content (firmware) that runs on electronic devices. You can think of firmware as the operating system (OS) that allows embedded devices to perform its basic functions. A knowledgeable embedded firmware engineer can help you build a stable firmware architecture designed for constrained systems. Embedded Firmware Expertise: Electrical engineers design, develop, test, and supervise the manufacturing of electrical equipment. They are experts at DFM (design for manufacturing) best practices and can help you design a prototype PCB with the best-performing and least expensive components. Electrical Engineering Expertise: Your mechanical engineer is responsible for the physical functioning of your device in the world, in terms of how it interfaces with other mechanical systems and, potentially, human users. Mechanical Engineering Expertise: When deploying an IoT device to market, you need a manufacturing manager who can help you source and find ways to reduce hardware costs easily. Manufacturing Expertise: : Manufacturing testing is different than manufacturing expertise because implementing quality testing metrics is a job within itself. Manufacturing Testing Expertise The Bottom Line Successful IoT projects demands thorough analysis and in-depth planning. Companies that do not do their research and implement sound deployment strategies will face many challenges and complications, leading to unsatisfactory results. To jumpstart an IoT project in your business, you will need to understand how the technology works and what it can do for you. Each industry is best served by a unique set of IoT applications and tools, and a good IoT technical partner will help you determine your particular needs, define your expectations, and avoid the pitfalls faced by companies that attempt IoT deployment on their own. Thanks for reading this article! Feel free to follow me if you’re interested in any_thing_ and all related to the Internet of things Things. :)

The Ultimate Guide To Starting Your First IoT Project

Cash flow is a critical factor for success, so it’s fair to assume companies do everything they can to control it. In reality, it’s a significant pain point for most of them. They must consider using business technology to improve their management practices. Why Is Cash Flow Important to Businesses? Ultimately, every business owner’s decisions depend on cash flow. When their inflow is positive — meaning they make more than they spend — they have much more flexibility. If it’s negative, their entire company could be at risk. Cash flow is important because it determines whether people stay in business — without a consistently positive inflow, success is unlikely. Statistically, remain open for over five years. More often than not, they shut their doors because they spend more than they make for far too long. only half of all companies Although most people don’t have impressive profit margins in their first few years of business, staying in the negative for too long affects them drastically. For example, it could lead to loan application denials, late payments, service shut-offs, or immediate debt collection. Although most businesses’ finances look good on paper, the reality is often different. A at some point, whether due to poor bookkeeping, unexpected growth, or high overhead costs. Even though occasionally being in the red is a normal part of being an entrepreneur, having a budget deficit for too long is damaging. majority experience negative cash flow Business Tech Is Essential for Cash Flow Management Consistent cash flow is a significant pain point in every single industry. Each year, more than have a period where they spend substantially more than they make. Although some professionals sometimes deal with budget deficits without long-term issues, many experience more severe consequences. nine in 10 small businesses Although many business owners believe consistent cash flow is one of their most significant pain points, they don’t leverage any technological solutions. Globally, use no tools to manage it. What’s more, roughly 9% admit they don’t even know the exact amount of money they make every month. nearly 30% of companies If these people use the right technology, they could track precisely where their money goes — meaning they could improve bookkeeping, eliminate unnecessary overhead costs, and increase profit margins. Effective cash flow management requires minimal errors, fast processing and accurate analysis — all things business technology is famous for. People who want to see their company succeed should seriously consider implementing proven tools for success. Best Practices for Tech-Driven Cash Flow Management Often, leveraging the right technology leads to better business outcomes. Professionals who follow the best practices for implementing these tools can solve their monetary issues and effectively manage their cash flow. 1. Automate Processes One of the top best practices for using business technology in cash flow management involves automation. Professionals could use it in any role, from bookkeeping to middle management. Also, business tech can minimize data entry errors. For example, an artificial intelligence payroll system won’t mistake a seven for a two during data entry or accidentally add an extra zero on a check. Fewer errors result in less administrative work and more efficient processes, meaning more effective cash flow management. 2. Simplify Steps Many businesses would benefit from simplifying their payment, bookkeeping and management processes. After all, most technologies are far more efficient than people. For example, mobile apps alone can save professionals annually. Instead of visiting a bank or writing a check in person, they can use their phones from anywhere at any time. over 725 million working hours 3. Manage Inventory Excess stock wastes of space and funds, so most businesses should consider utilizing inventory management technology. They can use predictive analytics, smart cameras or monitoring software. For example, AI can monitor shelves and notify staff when something needs restocking. Managers can review the operational record to make informed decisions when ordering new shipments. Once they collect a year’s worth of data, they can identify seasonal patterns and forecast demand. 4. Monitor in Real Time Many tools offer real-time tracking capabilities. AI-powered cameras can monitor inventory as it’s purchased and restocked. This level of precision makes supporting administrative tasks like ordering and stock counting much more straightforward. Real-time monitoring is also effective in end-user applications. The Internet of Things (IoT) can track when customers pay their bills. Considering experience late payments, this level of management would be beneficial. This way, they can stay current and better identify, trace, and contact the people who still need to pay. over 50% of companies 5. Support Manual Efforts Businesses often implement technology without considering how it will fit into their current procedures. A truly effective integration is only possible if they work with their employees. Viewing tools as support can make the transition more straightforward, save time, and improve workplace morale. 6. Collect Data Another best practice for using technology in cash flow management involves data collection. After all, a detailed, accurate spreadsheet makes administrative tasks much more manageable. Businesses can collect information through AI, website trackers, IoT sensors, or third-party software providers. 7. Conduct Risk Analysis Professionals should seriously consider conducting a risk analysis for their customers. After all, many people don’t pay on time or at all. In 2023, in the United Kingdom had unpaid invoices from 2022. Moreover, nearly one-quarter of them say the payments were at least four months late. around 55% of businesses Predictive technology is ideal in these situations since it uses data to calculate potential risks. For example, AI could leverage historical behavioral information to tell if a customer will likely be late with payments. From there, owners can decide whether or not they want to do business with them. Managing Cash Flow With Business Tech More often than not, cash flow management is challenging. After all, people must consider various factors when making decisions about debts and funds. Fortunately, business technology provides a straightforward solution to many primary root problems. People who use the best practices to implement these tools effectively will likely have a more consistent positive cash flow. Whether they automate their payroll system or leverage data to determine risk, their chances of success will increase and improve operations.

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