In the final part, we assess the advantages and prospects for integrating business objects into the Internet of things.

On the prospects for the development of the Internet of things and economic relations at the micro and macro levels, it is time to think of all types of business - regardless of the size and scope of activity. It is also time for regulators to think about new potentials of modern economic phenomena, based on extremely huge and constantly increasing information flows.


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An entrepreneur must understand that falling behind the Internet of Things is falling behind not from the revolutionary digital data exchange technologies, but from management evolutionary technologies for designing and running a business.


Internet of things for business objects - all parts:

• Part 1. Internet of things: new features - Network. Factors.
• Part 2. The Internet of Things: New Features - Things. Purpose.
• Part 3. The Internet of Things: New Opportunities - Potential.
• Part 4. Business objects: new technologies - Model.
• Part 5. Business objects: new technologies - Factors. Objects
• Part 6. Business facilities: new technologies - IoT'bo. Integration.
• Part 7. Business objects: new technologies - Advantages. Perspectives.

BUSINESS OBJECTS: NEW TECHNOLOGIES

6. Benefits

In general, the IoT'bo model (business objects of integrated things on the Internet) imposes increased requirements on all the subject and system-wide functions of management.
But why all this complexity?

The advantages of the IoT'bo model for business are as follows:

1. Active and highly productive use of the things of the Internet (due to deeper, detailed, multifactorial involvement of things in business)
2. Reducing the transaction costs of a business (due to the organization of internal interaction based on the most efficient and less costly ways to carry out transactions, as well as due to the possibility of duplicating the channels for conducting transactions)
3. Time saving of resources, expansion of functionality and increase of competences (due to expansion of methods and efficiency of temporary involvement of both individual objects and things, and resources, services, professionals)
4. Reducing the total costs of finding and using resources (by improving the quality of decision making on the alternative choice of resources and their suppliers)
5. Increasing the efficiency and mobility of business in the external environment (through the use of information technology and active interaction with the global network through the Internet of things involved in business)
6. Self-regulation on substantive operational issues (due to the empowerment of controlled independence of individual objects and things, as well as their entire groups)
7. Resistance to adverse impacts (due to prompt receipt of important information from outside and prompt response to the unfavorable situation separately by sites, things or groups, as well as by putting the majority of risks in the information and infrastructure plane)
8. Resilience to internal problems (due to intensive regulated interaction within the business and managed independence)
9. Competitive access to the best resources (due to the active operational collection of information from the global information network and the ability to quickly respond to changing situations in price and quality of available resources)
10. Taking up the best positions in developed and expanding markets (due to timely receipt of important information about markets and consumer preferences, as well as due to the active position of the Internet realized by things in the information space of potential consumers and existing customers)
11. Open, trusting and targeted communication with customers (due to penetration into the global information network and the ability to form a holistic information public marketing policy through the actions of business objects and things IoT)
12. Personalized "sensitive" approach to the needs of the market (due to analytics of a variety of quality and volume of data, which are supplied, including from objects in the network)
13. Increasing the mobility of business goals and resources (due to the possibility of objectively, timely refining and redistributing tasks and resources between objects and things involved in the business based on the current situation)
14. Reducing the number and mitigating the influence of barriers that limit business development (by finding several alternative effective options for the execution of the same functions, including the possibility of alternative choice of performers, resources for execution, place and time of execution, methods and technologies of execution)
15. Increasing the efficiency of each of those involved in a business object (due to increased regulation of the goals and objectives of each of the business objects and a clear understanding of the role of each object or thing in the business structure)
16. Actual flexibility in the execution of processes without creating crisis situations (due to expert management of the process of executing business processes with active control and analytics)

Note to the list: given without ranking.

The level of business management, as an interoperable system that implements a selected mission, strategy or main goal, must correspond to the level of the Internet of Things projects that such a business performs - this means that it is impossible to get a significant long-term useful effect if you do not consider the integrated model that links and outlines the business -objects and things as a single managed holistic system.

For the gradual formation of an effective IoT'bo model, business needs to focus primarily on the following:

1. Formalization of the mission, strategy and, in part, tactics (including objective key indicators)
2. Formation of a pool of information management tools
3. Organization of an information management subsystem (knowledge, data, information, methods, practices, regulations, standards): collection, processing, structuring, classification, analysis, presentation and dissemination
4. The organization of the subsystem of continuous non-explosive learning (competence development)
5. Subsystem organization object and process interaction modeling
6. Development and use of interaction technologies
7. Assessment of objects, things, groups and subsystems of business (constant, objective, deep, professional and purposeful appraisal)

Note to list: ranked by priority.

The transition to the IoT'bo model is a gradual evolutionary process that companies carry out directly or indirectly. Perhaps the most obvious, simplest and most widespread example of the use of elements of the IoT'bo model by economic actors is the inclusion of such an Internet thing as a “company site” in the daily business of a business. Each business uses this “thing” in its own way, but somehow it links its internal elements and processes with the website. At the same time, for themselves, the business (and its management in particular) understands the need and ways of working in the global information network will be important not for customers and competitors, not for market experts and contractors, but only for the business itself and for the beneficial effect it receives.

7. Perspectives

Getting acquainted and studying individual situations from business practice, more and more often you find real examples of reference to the principles and means of the IoT'bo model (or information management technologies). Global informatization opens up very broad prospects for companies and the economy as a whole, eliminating many barriers and boundaries, giving additional incentives and ideas for development. This only needs to be able and have time to use.

Let's outline a number of important prospects opening up for companies in the event of effective development of the IoT'bo model:

1. Functionality as a service (execution-as-service) is the ability to delegate a separate set of functions for external execution.
2. Objects for temporary use (temporary-objects) are an opportunity for the short-term period to attract especially valuable tools, equipment, personnel, etc. for the performance of important business functions (implementation of certain processes).
3. In the environment of the client (around-client) is the possibility of deep communication and understanding of a potential or current client, providing him with not just a product, but a really important way for him to meet a coherent set of needs
4. All as data (all-as-data) is the ability to extract the most possible and important for business data from any objects and processes and manage the name with a significant beneficial effect.
5. Total virtualization of everything (full-virtualization) is the ability to replace real things and objects with their virtual informational and functional counterparts, including variously combining and creating artificial and surrogate options with which it is more convenient and more efficient to work.
6. Super-specialization (super-specialization) is the ability to perform the main narrowly specialized functionality at an exceptionally high professional level, giving secondary functions to external execution, thereby forming an overwhelmingly surmountable competitive advantage.

At the same time, each of these IoT'bo model development prospects is possible in any subject area of ​​business, for example, in manufacturing, logistics, finance, marketing, personnel management, economic and managerial analytics, training and competence development, research, development and design work.