A network of physical devices which includes everything around you embedded with chips or sensors and a connectivity that enables these things to connect, source and exchange data can be defined as the Internet of Things.
At a higher level, an Internet of Things (IoT) platform comprises of support software, connecting hardware, access points, and data networks. IoT platforms typically handle management tasks and data presentation, which allow users to automate their environment. You can think of these platforms as a bridge between the data collected at the edge and the user.
Business with IoT
The business potential of IoT are much larger with improving efficiencies and customer relations that are dependent on the timely and productive analysis of the data generated by IoT.
The management aspect of IoT is advancing, with IoT systems coming together to form a big enterprise-scale solution. Management of these solutions has become a priority for organizations.
IoT requires capabilities for remote product management, monitoring, and control. Users would require software that integrates their diverse set of IoT enabled business assets into a cohesive unit so that they can focus on the running of business than managing the IoT bits.
These platforms will increasingly become partnerships between operational technology companies and cloud companies letting both sets of companies focus at what they are best - combining operational expertise with IT scale and power.
Types of IoT Platform
The different types of IoT platforms are based on their functional priorities.
Application Enabled platforms offer templates, modules, and frameworks for end-user applications. This converts data to actions
In platforms that don’t require building much of data infrastructure do network management and device management. They require simplified data the type required by cellular companies. These are network, data and subscriber management platforms.
Device management platforms are more focused in the monitoring, troubleshooting and the administration of endpoints. This deals more or less with the hardware involved in the systems.
Selecting your IoT Platform
Selecting your IoT platform depends on several factors. The foremost is the budget involved which includes the development, cost integration and hiring of consultants.
Depending on the business model you will have to figure out the platform required. If you are looking to build an end device, you would require to buy an IoT platform with an upfront license fee, that will accommodate the cost into your hardware. If it is a subscription model, you can include the charges into your customer’s subscription costs.
The other factor would depend on how critical money and time is for your organization. Platforms saving on time will incur more expense and those saving on money will have difficulties with upfront integration.
Many companies are developing their own in-house platforms depending on their needs. Based on how you desire to be projected in the market, it would be ideal to find out a custom based option that best suits your requirements. This can be both time and money saving.