The internet of things (IoT) refers to a network comprised of physical objects capable of gathering and sharing electronic information. Internet of things will be connected with physical objects that are accessible through the internet. In general, IoT is a collection of all things in the world and that should be connected over internet. But in any technology, there exist some risk factor which will diminish the performance of an organization. In IoT, security of information is always a challenging task. Security is an essential pillar of the internet, ‘the' most significant challenge for the IoT. When the number of connected devices increases, the opportunity of risk factor in positive and negative side will work to implement the IoT. Risk analysis is the review of the risks associated with a particular event or action. In this chapter, challenges of security and analysis of risk have discussed to reduce the problems.
Top1.0 Introduction
Risk analysis is a mechanism to identify and analyze the issue related to the negative impact on an organization. It is used to study the different aspects of a security issue related to information technology on a quantitative and qualitative basis. An organization always takes a management issue related to risk of the security issue, project and information technology etc. Risk analysis is a component of risk management. Risk management is a process that allows obtaining minimum risk and maximum profit in a system (Aven, 2015).The Internet of things or IoT refers to the billions of physical devices around the world that are now connected to the Internet, all collecting and sharing data. IoT(Internet of things) is an advanced automation and analytic system. It is based on networking, automation and analytic system. IoT increase performance when it is applied to any industry or system. Generally, IoT collects and exchange data without human interaction by Connecting everyday thing embedded with electronics software and sensors to the Internet.The term “things” in the Internet of things refers to anything and everything in day to day life which is accessed or connected through the Internet.
In the Internet of Things, all the things that are being connected to the Internet can be put into three categories:
By collecting information from an external source, IoT can make some intelligence decision. For example, sensors like temperature etc. can collect information from the environment. In IoT, it is possible that the machine receives information and act upon it. For example, a printer receives a document, and it prints it. The most important features of IoT on which it works are connectivity, analyzing, integrating, sensing and making endpoint engagement etc. Internet of things facilitates the several advantages in day-to-day life in the business sector like the use of efficient resource utilization, minimum human effort with saving time. Though IoT assigned with many benefits, it also creates significant challenges like security and privacy(Mohammeda et. Al, 2017). Since the IoT systems are interconnected and communicate over networks, so there exists risk related to security challenge and privacy of data from various kind of network attack. During the study of risk analysis in IoT, it is required to identify the risk, analyze the risk, evaluate the risk, treat the risk and monitor and review the risk respectively. It is required to uncover, recognize and describe the risk that will be harmful to IoT. When the risk is identified, it is required to analyze the nature of the risk and potential of the risk. After making an analysis of the risk it is required to level a risk which is acceptable or not acceptable to make changes. It is further steps is to treat the risk, and finally, it is required to monitor risk and reviews the risk.