IoT Impact on Business Opportunities

Abstract

The publication looks at the Internet of Things, the origins of this concept, and how it can be used in an enterprise. The use of IoT creates new types of business and improves the efficiency of an existing business. Thus, the use of IoT has an impact on the business model, in addition to the use of IoT, and how the use of IoT changes the architecture of information systems. The main focus of the publication is on the changes in the business model that are taking place through the digital transformation and the integration of Internet of Things solutions into the existing business solution. The study analyzes the existing scientific research in this field published in the IEEE database and, based on theoretical knowledge, analyzes the problem situations and opportunities that arise in the implementation of the Internet of things in enterprise. Solutions, where the internet of things has been used in wind farm establishment and monitoring systems how this application has changed the enterprise environment, are analyzed. The publication analyzes the main problem situations in the development of wind farm management system and the involvement of condition-based maintenance (CBM) in business processes, discusses the issue of data standardization in wind farm management based on the current level of standardization and provides proposals for further standardization of wind farm monitoring data traffic to improve management efficiency, thereby improving business performance. The publication provides readers with an overview of the internet of things and its applications to the business environment, focusing on wind turbine monitoring and provides suggestions for future directions to streamline the analysis algorithm of the machine learning process by improving the data collection phase.