Internet of Things (IoT) and Data Currency are the buzzwords of business organizations in 2016 and will continue to be one in the near future. A technological and digital revolution is about to happen impacting our day to day lives. In short, IoT paves way to establish an integrated network that would not only connect the computers, laptops, TV, tablets, etc., but also other devices such as refrigerators, thermostat, home alarm systems etc. contributing to a digitized, safe and secure environment.

The Internet of Things is evidently the most cutthroat arena for business organizations. IoT is all about data, devices, and connectivity. Data being the first element, denotes the most crucial step in the course of establishing IoT systems.

Data is available everywhere. But this data needs to be polished to usable information. The large amount of data synthesis process is used in building the IoT architecture, and is constantly refined and monetized, converting data into “Data Currency”. In times to come, data currency will be used as a sole payment mode or in combination with money. Just like monetary currency, and bitcoin, “Data Currency” would act as a deciding factor of economic trade relations.

The value of IoT data or data currency is always in a state of flux. IoT data attains its utmost value in the milliseconds after it is seized and combined into real-time business intelligence. IoT data are giving lots of opportunities to the dream of a novel connected world. Having said that, it does possess great challenges and business organizations are taking all the efforts to address. The key challenges are: Safety of the data, Security of the data, Storage of the Data, and Legal issues of the usage of the data.

Harman’s Managed Services bonds the highly dispersed ecosystem to unravel the prospective of IoT and find solutions to the key challenges of the same. Harman’s key offerings are end to end IoT architecture that spans system integration, sensor solutions, gateway solutions, cloud solutions, connectivity, user experience, and analytics.
Be it automotive, retail, healthcare, manufacturing or industrial revolution, Harman offers prebuilt frameworks for processing of data, real time automotive decision, actionable healthcare analytics, predictive retail analytics or business intelligences analytics for IoT. Harman has it all. Harman bags the Distinction as Undisputed Leader of IoT by Zinnov Zone’s 2016 Internet of Things Technology Services Analysis. This acknowledgement acts as an endorsement to Harman’s IoT architecture.

Technology alone can never be the solution. The right business models, the applications for data amalgamation, and the correct standards and policies would set alight the dream of digitized world. As a business leader, it is enthralling to turn the raw commodity (data) into something of real value.
Today, consumers demand is timely, tailored, reliable and durable products and services. Thanks to the great amount of data being made accessible by the billions of connected devices out there, it’s easier than ever before for businesses to meet these expectations. Augmenting these accessibilities has turned data to be the new currency in IoT led world.

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