June 1, 2015

IoT — Is it the Next Digital Revolution?

There was once a time when the idea of having a device in your pocket that could make phone calls was unheard of. Then, there was a time when the Internet was just going to be a short-lived idea that only benefited scientists and researchers. Now today, everyone is waiting at the edge of their seats for the latest technological innovation — and more importantly — no idea is too far fetched anymore.

One of the latest major trends in technology that’s affecting businesses worldwide for the better is the Internet of Things (IoT). By combining the capabilities of billions of devices, IoT is changing the way data is collected and shared globally — simplifying the workload of workers and streamlining several processes.

Internet of ThingsWhat Exactly is IoT?

IoT is the connectivity among devices — computers, mobile phones, machines and practically any device with internet capability. It started with home automation, which was often used for a synchronized entertainment system or to maintain a safe kitchen with automated kitchen appliances that would respond to safety issues or cook recipes — all with less input from humans.

How Will it Shape the Future of Technology?

Now that the trend has been picked up and successfully applied to several industries, the concept has flourished and is only showing signs of growth. In fact, Gartner forecasts that “4.9 billion connected things will be in use in 2015, up 30 percent from 2014, and will reach 25 billion by 2020.”

Furthermore, the amount of revenue that the big data and technology sectors will generate will also be on the rise. According to a recent IDC report, “the big data technology and services market will grow to $41.5 billion through 2018 — six times the growth rate of the overall information technology market.”

A major part of IoT’s development that is often overlooked is where the true power really is. As many argue that it’s the devices themselves that offer this major growth, the more sound explanation is really based in the connectivity that IoT offers.

The internet of things automates many human tasks The technology is not only seamless, it has the potential to be global, maximize real-time data capabilities and offer humans a performance partner that doesn’t have to be put on the payroll.

In the same way that the Industrial Revolution paved the way for high-quality, life-simplifying innovation, IoT has often been compared to being able to accomplish the same things.

How the focus of the country shifted from farming to machinery, IoT has the potential to change the employment culture from manning machinery to clocking in at work on a device to oversee the machines work on their own.

Steps to Take to Maximize IoT

Investing in relevant technology and having an open mind serves as a great benefit should your organization care to get involved with the Internet of Things. With the proper implementation, use of trial and error and consulting with technology experts, your business stands to gain several positive effects, including:

– Higher quality service
– Increased production
– Streamlined maintenance requests
– More access to real-time data
– Quicker & better decision making
– Less physical work & more oversight duties

As a business who is likely trying to simplify their operations while implementing new technologies, making use of IoT is a trend that you do not want to neglect. Being left behind as the trend’s momentum pushes your industry forward is a spot where you do not want to be in as it may lead to you having to invest more time and energy later on.

Instead, consult a BI specialist or big data analyst who’s well aware of how implementing IoT’s features within your business can truly revolutionize your company for the better.

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