The Internet of Things Is Here: Are You Ready?
The Internet of Things (IoT) has been around for some time and shows no sign of going away. You may have heard of smart thermostats that learn your comfort level and adjust accordingly, or smart watches like Fitbit that track your fitness level. But have you wondered why the IoT devices are called ‘smart’? That’s because they can function without requiring human-to-human or human-to-computer interaction.
A ‘thing’ in the Internet of Things, can be any physical object that has inbuilt sensors and can transfer data via the internet. IoT makes it possible for various devices to connect and sync seamlessly, whilst share intuitive intelligent data. This increased machine-to-machine communication is set to transform our lives completely by automating it.
What does IoT mean for your business?
- Demand for new services, faster development of applications, real-time access to information, and a huge influx of data
- Leveraging the data from billions of connected devices will require ability to store, access and query (structured and unstructured) data to produce actionable insights
- Data and insights generated can help automate various parts of business that can improve operational efficiency, increase productivity, reduce costs, and assist faster decision-making. For example, an IoT powered system can optimize energy usage by switching lights on or off during business hours, or when no customers are around
In order to harness the full potential of IoT, businesses will have to prepare themselves. A few things can help them kick-start this process:
- Embrace the cloud, as IoT doesn’t work without cloud computing
- Educate your staff by placing top priority on training and sufficiently engage them to innovate and keep track of emerging trends
- Beef up the cyber security as all connected devices can be hacked. If you can’t put secure measures in place, you will never be able to compete
Do you think your business can benefit from the ubiquity of the Internet of Things? – If yes, be prepared. No isn’t even an option!