Chapter 6, Problem 1TA

Program Plan Intro

Internet of Things (IoT):

• Internet of Things (IoT) is the internet of things that contains a system of interrelated computing devices, which has the ability to transfer data over a network.
• It is an idea where the objects can interact with other devices or applications when connected to the internet.
• Numerous companies are aiming to design and develop the products with the features of automatically communicating with other devices and exchanging data.
• It is used in various fields such as home automation, vehicle operations, artificial intelligence, and so on.

Explanation of Solution

IoT sensor manufacturing company:

ThingWorx

The company ThingWorx gives medical device manufacturers with an IoT solution to offer new home care solutions, support the conversion to “accountable care”, ensure compliance with strict regulatory necessities and contend with growing competition for service business. Glucose monitoring sensor for diabetes is manufactured by the ThingWorx Company...

Explanation of Solution

Purchasing cost:

• The purchasing cost of medical device in ThingWorx was more or less $112 million plus a possible earn-out of up to $18 million when the customer brought it in large quantity...

Explanation of Solution

Summary:

Diagnosis diseases and providing treatment to remote areas where doctors are not easily available or easily reached is very difficult. The IoT sensor embedded with the medical devices and used for patients in many ways.

• IoT sensors in the medical devices helps the healthcare specialists can easily find diseases and give treatments in a well-timed manner from distant areas.
• Many healthcare services have started implementing embedded solutions for medical devices enabled with IoT to address the absence of availability of doctors in distant locations...