Posts in HOW-TO

How Do I Start My IoT Project Without High Investment?

July 5th, 2017 Posted by favoriotadmin HOW-TO, NEWS, TIPS 0 thoughts on “How Do I Start My IoT Project Without High Investment?”

Start Your IoT Journey

#AskIoTWorld Question #4:

How do I start my IoT Project?

Response:

Simple answer – it depends on where do you stand? Assuming that you have the necessary knowledge and skills to develop an IoT project, take the following steps:

Go out there and find a business case. Good market research report can give an indication but the market can be different in different countries. Thus, you need to be out there and find a real business case. Talk to the industry, talk to the customers and listen to their pain points.
The low hanging fruit is to replace manual labor with remote monitoring. Costs can be greatly reduced. No more traveling costs and time-consuming data gathering. By doing this, you are also benchmarking their operations.
The best part of benchmarking is that you can now introduce more sensors, actuators, analytics to gain better insights and thus ROI can be easily seen and predict.

This is just the beginning of your IoT journey. Take a simple step forward, understand their business case, learn, change if it doesn’t work, expand if it begins to show the ROI.

You can DOWNLOAD the eBook – HERE.

[Note: You can #AskIoTWorld with any IoT-related questions and we will try to answer in this Blog]

Tags: Collaborates, education, FAVORIOT, IoT

How to Embark on IoT Business

July 4th, 2017 Posted by favoriotadmin BLOG, HOW-TO, TIPS 0 thoughts on “How to Embark on IoT Business”

#askiotworld #3:

I am very interested in IoT and would like to embark in this business. How do I start?

Response:

Everyone is excited about IoT, its potential and the promise of billions of connected devices including trillions of dollars in the business. But many are confused how to start their IoT venture.

Here are my suggestions:

Start by finding the right vertical, market segmentation and customers that have the right mindset to change and money to invest in their digital transformation journey i.e. customers that are WILLING and ABLE to spend money on IoT.
Find their business case and pain points to solve
Check your strength to deliver the solution based on the following IoT value chain. Note that there is no single company can deliver an end-to-end solution. Even big companies require smaller companies to support their delivery ecosystem.

Select one (or more) of the value chain and be very good in delivering that “chain”:

End-device components
End devices and sensors
Embedded operating systems
IT, network and OSS infrastructure
Security
IoT Middleware
Cloud infrastructure
Analytics applications
Visualization applications
Management and applications enablement software
Service providers
Vertical products and solutions
System integrators

Tags: BUSINESS, Collaborates, education, FAVORIOT, IoT, middleware, networking, opportunity, university

UBI and ABCs of the Driver Using IOT

June 30th, 2017 Posted by favoriotadmin BLOG, HOW-TO, SMARTCITY 0 thoughts on “UBI and ABCs of the Driver Using IOT”

Introducing UBI in Malaysia

Following the liberalisation of motor insurance tariffs set to take effect on July 1, the insurance companies are expected to take into account a motorist’s driving history to calculate their Premiums. This includes several factors such as the age of the driver, age of vehicle, gender of driver, driver’s claim records and traffic violations record. This mechanism of calculating the premium is called “Usage-Based Insurance” or UBI.

However, it will be more accurate in understanding their profile if the above factors are calculated with the actual driving behavior of the driver. One of the ways to capture their driving pattern is via Internet of Things (IoT) whereby sensors are embedded into the car or the using driver’s smartphones. Basically, we will be able to capture the ABC of the driver i.e. A – acceleration, B – braking and C – cornering.

There’s a company in Malaysia, Katsana, has launched a smartphone application called “DriveMark” (Download from iOS App Store). I have been using for nearly 2 weeks and you can see my driving pattern below.

How will it benefit consumers?

Promote safe driving culture
Low-risk drivers enjoy lower premiums
More options to suit one’s needs
Get to shop for the best coverage and value
Competitive prices in the long term

It is a welcome news for the IoT industry in Malaysia. The move towards usage-based insurance will help to spur the growth of IoT with connected cars which in return will help to introduce other IoT applications and benefits other industries.

About the Author

Dr. Mazlan Abbas is currently the Co-Founder and CEO of FAVORIOT Sdn Bhd. He is an IOT Evangelist and a Thought Leader. He received an award as 50 Most Impactful Smart Cities Leaders by World CSR 2017. He is ranked No. 20th Thought Leader in IOT by 2014 Onalytics Report – “The Internet of Things – Top 100 Thought Leaders”, ranked Top 10 in IoT Top 100 Influencers by Postscapes 2016/2017, ranked Top 100 in Smart Cities Top Experts by Agilience Authority Index May 2016. He is also a Global Vision Board Member. You can reach him on LinkedIn or Twitter. Check all his presentation slides HERE.

Tags: IoT, smartcity

Posts in HOW-TO

How Do I Start My IoT Project Without High Investment?

#AskIoTWorld Question #4:

Response:

How to Embark on IoT Business

#askiotworld #3:

Response:

UBI and ABCs of the Driver Using IOT

How will it benefit consumers?

About the Author

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