The Internet of Everything in the Context of Enterprise Systems - Assignment Example

Enterprise Management Name: Institution: Table of Contents Enterprise Management 1 Table of Contents 2 Abbreviations 2 Summary 4 Report Question and Answer 4 Discussion 6 Market Trends and Predictions 6 Real World Visibility 7 Strengths and Pros 8 Weakness (Cons) and Issues 8 UAE Context 9 Conclusion and Recommendations 9 References 11 Abbreviations IoE - Internet of Everything IT - Information Technology ES - Enterprise systems RFID – Radio Frequency Identification MES - Manufacturing Execution Systems ERP – Enterprise Resource Planning SAP - Systems Applications Products B2B - Business-to-business B2C - Business-to-Consumer IDC - International Data Corporation UAE - United Arab Emirates PC - Personal Computers IBSG - Internet Business Solutions Group IPv6 - Internet Protocol version 6 LAN - Local area network PAN - Personal Area Networks WAN - Wide Area Networks Definition of Terms Internet: is a way of connecting a computer to other computers anywhere across the globe through dedicated servers and routers. Scalability: is the capability of a process, network, or system to manage capably an increasing amount of work or its capability to be enlarged to handle that growth The Internet of Everything: is bringing together things, data, process, and people so as to make valuable and relevant networked connections; thus, changing information into actions that generate novel abilities, extraordinary economic prospect, and better-off experiences for individuals, businesses, as well as countries. Summary Progresses in the field of networking, computing, and embedded systems are resulting in an infrastructure made of lots of heterogeneous devices. Such devices as discussed in the report do not only transmit information but connect peer to peer, process it while in transit, in addition to creating highly developed collaborations. This infrastructure for “Internet of Everything” strongly connects with the business setting, and its connection with the enterprise systems (ESs) has not just further shadowed the line between the real world and business information technology (IT) systems, but has changed the manner enterprises design, use, and deploy services. Based on Market trends and predictions, it is evidenced that new opportunities are emerging for enterprises, which at the moment can closely work in partnership with the real world. From the UAE context ESs are utilised to support all activities with regard to decision-making, communication, and data acquisition. For that reason, in the report we established that IT infrastructure for data sharing as well as acquisition have a great effect on the ES performance. Given that the internet of everything has made possible real-world visibility, the report discusses how this has impacted the business world especially with regard to enterprise systems. The study objective was to research the effects of emerging IoE on ESs in contemporary business world. Report Question and Answer Question: Where does the business value lie on IoE from an enterprise systems context? Answer: From an enterprise viewpoint, the IoE is the starting point of the web-based service economy, which has ensured availability of service platforms as well as a multitude of services through Internet. IoE for that reason bridges the gap between its information systems representation and the physical world, thus creating business value. Introduction Presently, it appears like conventional PCs are the very last device users think of when connecting to the internet thanks to mobile devices, such as smartphones and tablets. This does not sound tolerable, especially in the enterprise, but it is slowly turning out to be the truth in almost all business environments. Owing to the IoE, enterprises can before long make use of any device to communicate as well as connect (Bi, Xu, & Wang, 2014). According to Haller, Karnouskos, and Schroth (2008), the applications for IoE are apparently never-ending, and this capability is closer to every business with ESs. Recently, IoE has gained momentum given that more non-traditional devices have achieved the capability to connect to enterprise systems. The report seeks to research, discuss and analyze the Internet of Everything in the context of Enterprise Systems Discussion Undoubtedly, utilization of enterprise systems such as ERP systems has streamlined organizational operations, which as a result has improved productivity and, eventually, the bottom line. On the other hand, software developers have assisted business organization to develop a setting essential for supporting the IoE as well as make sure businesses can profit from their technological investments. Market Trends and Predictions Cisco IBSG forecasts that by 2015 there will be more than 25 billion devices connected to the Internet and by 2020 this number will increase to 50 billion. It is imperative to bear in mind that estimates by Cisco IBSG did not take into account the rapid developments in Internet as well as device technology; therefore, the presented numbers are rooted in what is acknowledged to be factual these days. The value at Stake of IoE as per Cisco will be $14.4 trillion for industries as well as companies globally by 2020 (Cisco IBSG, 2011). More particularly, more than a decade to come, the Value at Stake will present a chance to heighten international business profits by more than 20%. That is to say, between $14.4 trillion of net profit attained between 2013 and 2022 will be available to any enterprises internationally steered by IoE (Cisco IBSG, 2011). What’s more, it is predicted that IoE will both generate new value as well as migrate (redistribute) value amongst laggards and winners, with regard to how well these companies will capitalise on the IoE presented opportunities. For business that will best harness internet of everything will gain this business value. Real World Visibility Internet of everything have made possible real-world visibility considering that the phrase real-world visibility connotes the fact that by using data collection technologies as well as automated identification such as sensors and RFID, business can better understand what essentially is taking place in the real world. That is to say, how business operations are fairing as well as what the whereabouts and status of its products and assets in the supply-chain are; thus, allowing for resolution management. Haller, Karnouskos, and Schroth (2008) posits that the heightened timeliness and accuracy of information concerning the processes of business offers competitive advantages with regard to process optimisation. Besides that, the deeper perceptiveness added into the processes enables an improved comprehension about them at the organisation operational level and results in their optimisation. IoE leads to low costs of data entry, thus counterbalancing the substantial investment presently needed, allowing business to profit from computerized entry through ES and, for the most part, from nonstop measurement. For instance, an optimized shelf refills help business avoid out-of-shelf situations, in so doing offering the customers optimal product availability. Control of Shop floor can in the same way be optimized with functionalities for equipment tracking that offer ERP as well as MES systems with more precise data concerning the physical conditions and state of inventories production, in that way potentially heightening the availability as well as efficiency of manufacturing plants (Haller, Karnouskos, & Schroth, 2008). The abovementioned example applications utilise the real world as well as the derived information so as to well manage and control business processes that handle assets as well as the products, the individuals or environment. Thanks to IoE, sensory information from ES has increased the precision of real world verifications and as a consequence has been the basis of event-driven management. Strengths and Pros Although the methods of how to best make the most out of the IoE to generate business value is still exceptionally much surfacing, some benefits are well known. IoE allow for smart, connected place of work, and such are control and data technologies that are frequently wearable such as Hitachi Business Microscope, other includes ES’s controllers or sensors. Besides that, IoE has facilitated business process optimization, monitoring, and control. Business activities for companies with ES have been deeply measured, instrumented, and improved systematically (Litmus, 2014). Through IoE, Cisco IBSG (2011) predicts that ES will advance to technologies helpful in capturing big data, and these will be used to handle, coordinate, and extract meaning from the measureless torrents of digital knowledge. Besides that, IoE has extended and enhanced IT, and from an ES context IoE has created the extended enterprise in the digital world that is profoundly changed. Furthermore, thanks to IoE, Litmus (2014) posits that products and services automation has been made possible by ES, whereby business organisations have first IoE enable their processes, but afterwards designed them around and for ES. IoE has resulted in business intelligence, and akin to what big data has done to social media, organizations have experienced novel levels of perceptiveness into the real world as well as how it truthfully operates, and acclimatize the business world to well adjusted comprehension of actuality (Bi, Xu, & Wang, 2014). Besides, through IoE business have remained connected and continues engaging with the marketplace and customers. Weakness (Cons) and Issues As noted IoE, promises scores of socio-economic benefits as well as opportunities, but still there are some governance and technical issues that must be solved so as to achieve the organizational vision. Currently, the internet has over 1.4 billion users as well as 540 million hosts, and so the IoE has possibly trillions of connected things. Presuming that everything in the internet will have its individual IP address, and considering the IPv6 can accommodate 2128 things, then this will raise the future number of likely participants in the Internet enormously (Haller, Karnouskos, & Schroth, 2008). In consequence of this connectivity, the volumes of data will considerably heighten; and other than discrete data progressively more streaming data will be seen, such as from cameras and sensors being conveyed through the Internet. Besides that, security challenges such as hacking, phishing, denial-of-service pose serious setbacks for contemporary business organizations considering the high cost of loosing crucial information. UAE Context Akin to other countries across the globe, businesses in UAE are in the front line espousing various ES technologies so as to deliver both citizen and customer benefits. According to SAP, IT spend in UAE is set to hit $8 billion by 2018, and survey by IT research company IDC noted that UAE’s business IT spending is projected to grow by 74% from the current $4.63 billion to $8 billion in 2018. IDC further estimates that the IoE installed base in UAE will be around 200 billion by 2020, and this will comprise over thirty billion autonomous (connected) things, and will mainly steered by enterprise systems across both enterprise as well as consumer applications. Just like in U.S., IoE in UAE has heralded scores of IT vendors to the market, offering services such as B2B and B2C to run and connect enterprises in every place that electronic device has a capability for networking (Lalchandani, 2014). The UAE’s IoE momentum is steered by a number of factors, but must important is to improve productivity and promote e-commerce. Across the globe, including UAE consumer and business demand is undoubtedly present and will carry on to expending for IoE solutions. The present IoE utilisation instances in UAE, according to IDC are just the tip of the iceberg since in the future there will emerge new enablers to the rise of IoE. Some of current enablers include improved infrastructure connectivity: considering the latest wave of network enhancements, then connectivity in UAE is turning out to be more and more ubiquitous, whether through PAN, LANs like WiFi, or WAN like cellular. This capability to connect everything is assisting in making IoE in UAE and other countries across the globe a reality. Conclusion and Recommendations In conclusion it has been argued that, whereas business world still believes that there are scores of business opportunities ahead, most industry are yet to widely espouse the novel ES technologies that will result in the achieving the vision set by the IoE. In the contemporary setting, business organisations must be smart and start developing their IoE ecosystems and also begin developing their network effect so as to be the most valuable and attractive offering. Soon, consumers these networks will surround the customers and this will result in interoperability battles, wars over data, as well as never-ending control and privacy issues. However, business must realise that this will depend on how they conduct their activities, how they connect with their customers as well as the market. So they should formulate policies that concentrate on exchanging data, sharing value, and accumulating knowledge. Besides that, business organisations must understand that the more they become connected to something, particularly to something that adds value, so the value will grow exponentially based on the connectedness. That is the fundamental truism of IoE, and that is why business with integrate their ES to IoE achieve the needed productivity. References Bi, Z., Xu, L. D., & Wang, C. (2014). Internet of Things for Enterprise Systems of Modern Manufacturing. IEEE Transactions on Industrial Informatics, 10(2), 1537 - 1546 . Cisco IBSG. (2011). Internet of Things Market Forecast:. Retrieved from Postscapes: http://postscapes.com/internet-of-things-market-size Haller, S., Karnouskos, S., & Schroth, C. (2008). The Internet of Things in an Enterprise Context. Future Internet, 14 - 28 . Lalchandani, J. (2014, April 17). The Internet Of Things: How Will It Affect People In The UAE? Retrieved from Gulf Business: http://gulfbusiness.com/2014/04/the-internet-of-things-how-will-it-affect-people-in-the-uae/ Litmus. (2014, July 21). Increasing Operational Efficiency in Manufacturing with the Internet of Things. Retrieved from Litmus Automation: http://litmusautomation.com/2014/07/increasing-operational-efficiency-manufacturing-iot/ Read More