Technology Overview and IoT Ecosystem

Technology Overview

• Technology applies scientific knowledge for practical purposes, particularly in industry.
• It encompasses machines (like computers), techniques, processes, and programs.
• Technology is pervasive, present in homes, industries, businesses, and healthcare.

Information Technology (IT)

• IT studies and uses computer systems for information storage, retrieval, and transmission.

Internet of Things (IoT)

• IoT connects devices (computers, smartphones, appliances) to the internet.
• An IoT device is a standalone internet-connected device, remotely monitored and controlled.
• An IoT ecosystem is a complex network enabling connections between entities, IoT devices, and supporting systems.

IoT Ecosystem Components

• Entity: Businesses, governments, consumers who interact with IoT devices.
• Physical Layer: Hardware, including sensors and networking equipment, that comprise the IoT device.
• Network Layer: Internet communication layer that transmits data from the physical layer.
• Application Layer: Protocols and interfaces for device identification and communication.
• Remotes: Tools enabling user interaction and control over IoT devices.
• Dashboard: Displays IoT ecosystem information, often displayed via a remote.
• Analytics: Software analyzing data generated by IoT devices.
• Data Storage: Where data from IoT devices is stored.

Business Process Automation (BPA)

• BPA manages data, information, and processes to reduce costs and resource investment.
• BPA increases productivity via automating key business processes using computing technology.
• BPA often involves implementing software applications for automating routine tasks and improving workflow efficiency within a company.
• Enterprise resource planning (ERP) systems typically emerge from successful BPA implementations.

Enterprise Resource Planning (ERP)

• ERP is a business system and software package integrating data across an organization into a single system.
• ERP streamlines operations by unifying previously distinct processes often supported by separate legacy systems.
• Legacy systems are outdated, standalone systems designed for specific business functions.

ERP History and Evolution

• The Economic Order Quantity (EOQ) model (1913) was a precursor to modern ERP systems.
• Material Requirements Planning (MRP) (1964) was a software-based integrated system for improved productivity, influenced by and building on prior concepts.
• MRP II (1983) incorporated more business functions beyond manufacturing, along with purchasing, scheduling, and contract management.
• Gartner, Inc, formalized the ERP concept (1990).
• ERP adoption intensified throughout the 1990s and early 2000s to streamline operations.
• Modern ERP systems evolved embracing the internet, cloud services, and features such as PLM, SCM, and CRM.
• Software-as-a-service (SaaS) is used for cloud-based ERP, lowering operational and capital expenses by adopting a subscription model with software housed on external servers.

Characteristics of ERP

• Makes an enterprise data driven.
• Fundamentally process oriented.
• Enables real-time operations.
• Elevates IT as a part of wider business strategy.
• Operates as a mass-user application.

When a Company Needs ERP

• Growth: Existing systems may struggle with rising user and transaction counts. ERP enables scalability and standardized processes for sustained growth.
• Multiple Systems: Running multiple systems can create confusion and inefficient workflows. ERP provides a consolidated platform for streamlined processes.
• Compliance: ERP can ease conformity with evolving government regulations and supply chain mandates via reporting and documentation.

Explore the fundamentals of technology and its applications in various sectors. This quiz also focuses on the Internet of Things (IoT), its components, and how they connect and communicate within an ecosystem. Test your knowledge on the integration of devices in modern technology.