What’s the buzz?

There has been a lot of buzz over the last few years about the Internet of Things (loT) and its ability to transform and shape the way you do business anywhere in the world. But what is the Internet of Things (loT) and what does it do exactly?

How it works

Of course it is far more technical than this, but fundamentally loT is a massive network of connected things and people – which all collect and share data.

This means that devices and objects can have built-in sensors or collect and integrate the data from the various devices. Analytics are then applied to draw the most important and valuable data using applications built to zero in on specific needs. It can be used to turn on a light in a home or in a driverless car…

Its scope

These crucial loT platforms can pinpoint exactly what information is useful and in turn this can be used to pinpoint patterns, make recommendations, and perhaps even uncover potential issues or problems before they even happen.

Imagine if you applied this to your business – it could prove extremely useful.

When it comes to understanding the breadth of the loT, remember that in 2018 billions of physical devices around the world are now connected to the internet, collecting and sharing data.

What about your business?

The Internet of Things (loT) can be applied to many industries including transport, education, healthcare, energy, home security, farming, agriculture, home automation and so on.

What has recently shifted in the corporate thinking about loT is that businesses everywhere are starting to understand how it needs to be integrated across the whole company, rather than operating as a stand-alone division.

Gathering information

Vast sums of money is being spent on loT development by many companies as they recognise it as the means by which methods of various business operations are changing, but also the way information is collected and exchanged.

One industry analyst says hardware will be the largest technology category in 2018 with $239 billion going on modules and sensors, as well as infrastructure and security. Services will be the second largest technology category, followed by software and connectivity.

lOT and your business

Your company could use loT data to observe buyer cycle, consumer needs, how much improvement and innovative inventions are needed in the years ahead as well as updating ways your advertising and marketing is done.

All this data can be collected, shared and interpreted effectively so that you can boost productivity, streamline processes and review budgets, if necessary.

When you think about it, loT could be the best technology you incorporate into your business for years to come.

To find out more about the Internet of Things (loT) for your business, speak with our ICT consultants here.