Internet of Things, such as sensors and network technology, is changing company processes and consumer interactions – and even entire business models.
More objects are becoming embedded with sensors and gaining the ability to communicate. The resulting information networks promise to create new business models, improve business processes, and reduce costs and risks.
Internet of Things and Big Data are already considered to be one of the disruptive technologies/ concepts (See: Disruptive Technologies) which has business potential of more than trillion dollars directly or indirectly. (Ref: Wikipedia for Definition – Internet of Things and Big Data).
According to McKinsey Global Institute, the Internet of Things has the potential to create an economic impact of $2.7 trillion to $6.2 trillion annually by 2025 (McKinsey Global Institute, Disruptive technologies: Advances that will transform life, business, and the global economy, May 2013).
Internet of Things is already there in the devices, sensors, cloud infrastructure, and data and business intelligence tools you are already using.
When government starts embracing the technologies and concepts of Internet of Things and Big Data, the value addition and the experience that it can bring to common man’s life, will be of great significance.
Here, I thought of sharing my ideas on one of the major transformation that governments can do to benefit and improve citizen’s experience who commutes miles for their day to day activities.
Offer them a smart city with smartly regulated traffic controls. Utilize Internet of Things concept to install the sensors/ actuators in almost every vehicle (two wheeler, four wheeler, trucks, lorries etc) in the city and collect the varied, huge volume, rapidly changing big data for analysis.
With these raw data in place, government shall be able to identify and get the statistics on the no. of vehicles during peak hour, in every specified location, the free alternate roads during the same time, no. of outstation vehicles commuters and can gather limitless data which shall help in streamlining the traffic to the best minimum. Nevertheless, these data shall as well be utilized for the future infrastructure needs of the city.
What I have shared now is just one of the many advantages that IoT and big data can bring together to add and improve citizen’s experience which inturn potentially decrease the stress level of citizens, improving their life style and providing more time for their personal needs.
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Principle Business Consultant –Industry CRM & CX Solutions.