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Location of Things: The real value behind IoT

The wow factor has played a major role in the public’s perception of the Internet of Things or IoT, writes Jonathan Duffy, the EMEA managing director of Netclearance. There’s something about the idea of a world made up of objects all linked together that resonates with people, so it is understandable that there is currently a lot of hype surrounding it.

IoT refers to the integration of internet-based technology into every-day items, such as wristwatches, key chains, home appliances, and almost anything. The prospect of an interconnected society has some people wondering about its real-life applications. That’s where the Location of Things (LoT), a less popular buzzword, but one that is essential for understanding how IoT adds value to an organization, comes into the picture.

What is LoT?

Location of Things technology spans the area of identifying where IoT devices are located in relation to their origins, destinations or other adjacent devices. LoT refers to the ability to locate and monitor all types of things in real time. What is the value of sensors capturing identity, environmental data, and status among other things if the consumer of this data doesn’t have the contextual location information to give this data some meaning?

The advantages of this capability are immense. Networks, for example, are essential to modern life, whether that’s transferring information, energy or goods. When they break down, the consequences can range from minor inconveniences to life-threatening emergencies.

This is where LoT proves so useful. It enables personnel to monitor all types of networks of things for signs of trouble. In the event something goes wrong, it guides them to the exact point of failure. It can even give them vital information about the nature of the breakdown, speeding repairs and minimsing problems. Needless to say, this technology has enormous potential for making the world a safer, more secure place in which to live.

By adding context to the billions of location-aware sensors and devices that will be part of the IoT ecosystem it will open up unlimited opportunities to enhance customers’ experience, improve service quality, margins and reduce operational expenses across a wide range of industry verticals and the public sector.

The missing piece of the IoT for enterprise puzzle

Knowing the location of things completes the picture for enterprises that exploit the world of the Internet of Things as part of their business processes. Combining IoT and LoT gives the fine-grained insights that only coalesce as the big picture on the larger scale. When you have a geospatial understanding of your connected devices, it adds the final piece of the puzzle of your operations.

Where are your connected devices?

The Internet of things connects remote digital devices that share sensor data and sometimes offer automation features. The IoT ties everything together via the Internet to gain valuable business intelligence from all of the data transmitted by the device.

Geo-location information systems are big data applications that deliver floods of valuable business intelligence. LoT is the technology that makes this possible for businesses of all sizes. Adding a smart beacon tracker to each connected device puts it into an information matrix from which you can find patterns by applying visual analytics.

Necessary and sufficient data integration

The IoT provides necessary solutions for enterprises with dispersed assets, but that is not enough to give you accurate real-time intelligence by itself. Users need to know about the state of devices, the sensor measurements that they provide and the locations from which they report. By tracking these three factors in real-time companies can apply the kind of big data analytics that delivers true insight and reveals hidden opportunities.

Fine-grain data and the value of big-picture patterns

Companies competing in industry segments that use the IoT will get improved business intelligence from LoT applications. Many segments are now using big data to make smarter decisions and creating competitive advantages.

In diverse fields such as agriculture and supply chain management, the ability to use fine-grain geospatial information is revolutionising the way that businesses draw conclusions from data and make decisions. Real-time tracking and location solutions for logistics, healthcare, workforce-management is paving the road for a smart IoT infrastructure.

So get ready for a much wider usage of the term LoT. In the near future, Location of Things will help give context to the who and what provided by the billions of IoT nodes and sensors that will populate our planet over the next decades to come.