IoT: Most Sought After Opportunity for Startups and MSEs
The world is extremely fast evolving. Its because we are so open and kind enough to accept new elements in our lives. For example, we not just accept new elements but also newer processes to do our daily tasks related to professional work, household work and much more.
Look at the growing importance of mobile device in our lives. Look at the potential of the Internet which actually started a couple of decades ago and now it is becoming an essential factor in life.
Now, some experts are calling technological advancements but some belief in giving special terminology. So, we in this article have become one of the major dominating trends of today’s world. Internet of Things (IoT) is the most fashionable term in practice which refers to the bringing technology in our common works. For example, managing home electricity through a mobile device is a common example of IoT.
Similarly, monitoring health performance on mobile devices using the Internet is also commonly known to most of us now but there are cities which are calling themselves smart cities are working on the creation of a network of such health-conscious individuals and monitor their health wise performance. Now, this may sound so simple but this means a lot of technology solutions, applications integrated into a consolidated system which allows a great level of control related to the health of those common people who are part of this network. In other terms, this is a great example of the automated healthcare system for the smart city.
So automation of systematic information flow, which brings any strategic value to a group of people, contributes to the creation of the smart city.
But who does all this? Are these large enterprises or governments? The answer to this quest those on is partial, yes. But the main work in IoT is getting executed by young startups which either gets created by a group of young students or professionals who understands the problem then creates a solution around the problem.
So, IoT is a great opportunity area for such enthusiasts who commonly operate as MSEs (Micro and Small Enterprises). With the advent of IoT as a trend, MSEs have a great direction to work upon and pursue the opportunity of IoT.
MSEs that are involved technology business find it more appropriate to enter into this business.
In an interesting recent development, Nimish Joseph of IIT Delhi participated in a data security focused competition to come up with a solution. He analyzed twitter data and said, “I had to identify spammers from a set of 10,000 anonymous Twitter users. Although the questionnaire gave us parameters such as their followers, friends, number of tweets posted, topics discussed and emotional diversity, such information did not give us any information on whether the profile was real or not. Since the data was unlabelled, I decided to proceed with an unsupervised learning approach. This involved a better anomaly detection mechanism where I had to clean up the dataset provided to ensure that tweets with special characters and null characters are treated properly.”
This work was part of big data analysis and is very useful in managing mass communications especially with respect to any specific region or subject.
So be it, data security or complex data delivery, IoT has emerged as a major area similarly, there are several examples of how Internet-based technology solutions are shaping up the smart cities projects nationwide and worldwide. Most of these solutions hold great potential and based on a pattern it is found that a majority of MSEs are coming forward in this.