What are the main benefits & risks associated with ‘Internet of Things (IoT)’ ?
There are several benefits for business related to the “Internet of thing (Internet of Everything)”. The first is a data-driven business model, able to make decisions more quickly and confidently because of the statistical solidity of the data. A sample of data from a million “things” in the hands of customers is mathematically more valid than that derived from a focus group of a hundred customers. That the data is near-time and accurately represents real action and interaction only makes it more valuable to business when making decisions. Second is the opportunity. We’ve seen Internet-enabled jewelry, fitness gear, temperature gauges, cars and plant monitors and we’re just getting started. The possibilities for developing things and establishing new business models around those opportunities is incredibly huge right now. Lastly, we’re also seeing early adoption of things internal to the business driving efficiency and process optimization that leads to improved productivity and lower costs across a variety of industries, changing business models internally to promote growth.
The dangers, of course, are the every present challenges of privacy and security. The ownership of that data is still questionable in the eyes of the consumer, irrespective of whether the legalese in a EULA states otherwise. Careful attention to how that data is handled requires investment in a broader range of security solutions that can protect not only the data at rest but in transit as well as the “thing” itself. Of significant concern is the intermingling of things and internal systems for those businesses adopting “things” for internal control and change. A breach within the “thing” network can lead to devastating consequences for the rest of the business. Careful attention to how things and other systems interact internal to the business is required to mitigate the risks associated with the potential for compromised sensors, collectors and other business-related things.
Lori MacVittie | F5, Sr Product Manager | @lmacvittie
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Webinar By Duo Security: Securing Apps and Data in the Cloud and On-Premises (March 11, 2015 at 10 am PST / 1 pm EST)