What are IoT devices?
Important Requirements of an IoT Platform
While the above-mentioned scenario, in all of its totality, may seem like a distant dream, but we are seeing certain elements come together at the time of writing of this answer. We are at a juncture where telcos have understood the potential of the IoT platform and are doing their best to fulfill the most essential requirements. Have a look at some of the important requirements of a potent IoT platform that can leverage the IoT tech:
1. Tracking and reporting of IoT transactionsIoT devices are expected to generate multiple zettabytes of data that needs to be tracked and reported. Without reliable tracking and reporting, it would be hard for telcos to monetize IoT services, especially in these times where Gen Y does not want to spend a penny extra for their usage of data. Therefore, it is essential for an IoT connectivity provider to have high-powered resources and a centralized OCS that charges all transactions in real-time and maintains accuracy in charging and billing.
2. Analytics for insight generationUnderstanding consumer behavior paves the way for true IoT success for telecom operators. The extremely large amount of data generated by IoT devices simply cannot be analyzed by human minds. A powerful analytics system needs to be integrated with the billing system to ensure automatic insight generation, which can be useful for businesses.