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Real-time analytics is becoming a requirement for new advances in technology. Much has changed in the last twenty years.  Sensors now can do much more than simply loss prevention.  Allowing technicians to monitor at a distance, up to the second, has invigorated many industries to use this technology to prevent mismanagement and erroneous loss.  

The current regulatory environment, recommended by the Federal Trade Commission (FTC) in January 2015 release, provided three efficient reasons for the use of the internet of things (IoT). One is data security by collecting, storing, and processing adopting a ‘defense in depth’ approach and encrypt at each stage.  With Data Consent were users have a choice in data share with IoT companies and informed of exposure.  Data Minimization where companies should collect only what is needed and retain information for a limited time.

These concerns have been applied from thinkers lending all the way back to the 18th century. Where it was Jeremy Bentham who stated, “It is vain to talk of the interest of the community, without understanding what is the interest of the individual.” Bentham’s design of the Panopticon assisted in allowing watchmen observe all cells at once, and it ensured those being watched were never aware of when they were being watched which motivated and regulated consistent behavior.

Since the work of early philosopher’s developing methods for security, consent, and minimization for what is needed technology has been designed accordingly to reduce the man-hours of physical demands to the processes of digital technological advances.

More and more companies and individuals are beginning to understand the dynamics of securing and collecting key data to prevent exposure and identify vulnerabilities before they become major losses for investors. Kevin Lonergan, the writer for a business-technology magazine, has pointed out how terminology has hindered their popularity. Lonergan cites that IoT has been around for some time, “before smartphones, tablets, and devices as we know them today existed

This has also brought Professor Michael Littman, a computer scientist at Brown University to exclaim, “If users need to learn different interfaces for their vacuums, their locks, their sprinklers, their lights, and their coffeemakers, it’s tough to say that their lives have been made any easier.” His contributions to the design and analysis of sequential decision-making algorithms in artificial intelligence have enhanced the key aspects to some of these challenges to understanding the IoT challenges in the past decade and well into the future.

The development of real-time analysis is key to keeping a business running with little loss to the manpower required.  Many industries have already begun to heavily rely on data storage and collection to determine the prosperous growth of a company through off-site servers they trust.  The key to the success of the systems in use is through dedicated professionals who have expertise in communicating effectively the demands of the coming decade.  

Having technical experts handle the oversight of the equipment, to include the helpful resource of their understanding of the terms associated, will provide hundreds of thousands in savings once lost to man-made error.