Internet of Things(IoT) to Business
The next big technological revolution that is rapidly gaining interest from businesses around the world is the Internet of Things (IoT). The global market has yet to discern the true impact of IoT on the enterprise level, but the implications of adopting enterprise level IoT will prove to be very beneficial to any type of business.
This intelligent world that is forming will be an interconnected web of billions of devices. Gartner forecasts that there will be more than 20 billion connected things by 2020. Now that we can extend intelligent sensors into anything, data and feedback can now be transmitted back to a business to gain a much better understanding of their market. Not only can sensors be placed on machines and devices, but legacy systems, enterprise platforms, databases and APIs can all now communicate with one another. This will greatly improve decision making in businesses because data is now being collected from thousands of points throughout a business’ value chain. Data can be presented in easy to interpret dashboards that can be accessed from any smart device. Operations can be monitored from a centralized location. Capital assets can be tracked remotely. Machines can learn from historical data to increase productivity and efficiency. But how should a business go about implementing IoT?
The most logical first step is to pinpoint pain points and bottlenecks. Usually the biggest pain point is not being able to easily access vital business information. The solution to this is to feed all data sources into an inter-connected IoT platform. There may be machines, capital assets or even human capital that produce data that isn’t tracked or monitored. The Internet of Things will solve this issue. Once pain points have been addressed, a company can optimize their business processes. Let the data that is collected work for you. Big data is no longer an unsurpassable mountain for a business to decipher. Algorithms can now be implemented to take extensive amounts of data and suggest decisions that should be made. Businesses can take this IoT adoption a step further and automate decision making and tasks that were mundane and time consuming. A business can now have a tangible pulse thanks to the Internet of Things.
Enterprises globally will need to adopt an IoT solution soon to stay ahead of the competition.