May 9, 2018
The internet permeates deep into our lives. Everything seems to be connected to the internet in some way or the other. Globally the IoT market is expected to reach $9 Trillion by 2020 from $3Trillion in 2014, growing at a staggering 20% CAGR.
For an increasing number of devices to connect to the internet, a reliable communications network is necessary. Not surprisingly, it is estimated that more than a fifth of the total IoT spend is on connectivity infrastructure.
Dubbed as part of the Industry 4.0, IoT is expected to bridge the gap between the physical and the digital world, opening up a plethora of opportunities for the industry and consumers to benefit from. Applications of IoT are unlimited, and range from consumer electronics to life sciences, logistics to retail. Gartner estimates that there will be about 50billion connected devices by 2020, with the spend on IoT services expected to cross $7 Trillion.
Low Cost Tracking:DiscoveryIoT lets brands track their products in a very inexpensive manner. The tracking cost per product is as low as $0.04 per month, which makes the solution ideal for rapid and mass adoption among low end products also.Real Time Visibility: The DiscoveryIoT solution gives brands real time visibility of their stock and sales data. This enables brands to take business decisions on real-time basis, without the time latency involved in traditional market research environments.No Involvement from Retailers: Globally, one of the main challenges brands face in data acquisition is support from retailers. Retail stores do not have any motivation to share sales and stock data with brands. In cases where retailers agree to share such information, brands pay very high amounts of money to access the same. The DiscoveryIoT solution does not require any support from retailers, thus bypassing a critical impediment in the entire process.Custom Reports: The data analytics layer of DiscoveryIoT supports custom report building, which can be built to suit the unique requirements of each brand. Artificial Intelligence: The DiscoveryIoT solution incorporates AI in order to provide predictive and actionable information for brands. Based on historical and other related information available, the DiscoveryIoT interface guides brands to take actions to avoid issues of stock-outs, stock obsolescence etc.Moreover, the AI engine gets smarter as more information is fed into the DiscoveryIoT database.
Cliot: Cliot is a low cost IoT tag, which works on the principle of backscatter technology. This tag does not require any power and self-charges itself. This is being developed at a cost of US$0.10 which makes it highly affordable to even daily use products like shampoo bottles or cereal boxes. Brands would be required to affix a cliot on every product that they wish to track. The base Cliot is a passive device, but any sensors (like temperature sensors, pressure sensors etc.) can be built on top of the Cliot infrastructure to record relevant information.User Community: We are building a community of public users, who would have our mobile application installed on their smartphones. These community members act as the data collection nodes and DiscoveryIoT works on the principle of distributed data harvesting. In other words, it uses the cellular data network of the user community is used to power the data transfer from the Cliot to the central servers. When a community member reaches within the proximity of the Cliot (within 30 metres), the Cliot and the smartphone automatically enter into a smart contract and the presence of the Cliot is recorded on the blockchain.Data Analytics and Artificial Intelligence Layer: The third layer to the DiscoveryIoT solution is the data analytics and AI layer, which converts all the data collected, into meaningful and actionable information for brands. This could include insights like “Store X will probably run out of stock of Item A tomorrow – plan to replenish stocks to prevent sale loss” OR “Store Y has too much stock of Item B – some of the stock expires in a week. Plan some marketing activity there”
May – Aug 2018
Attention. There is a risk that unverified members are not actually members of the team
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