Internet of Things (IoT)
Based on predictions, experts anticipate that by 2020 the Internet of Things (IoT), a new buzzword will have a market more than $1 Trillion. In the business world, no one knows how the Internet of Things (IoT) take shape.
We have all come across predictions with various gadgets, sensors, wearables and smart cars. In an effort to understand the impact of the IoT it is necessary to evaluate how these changes will reflect on business value and let entrepreneurs tap the market and take advantage of this situation. It all comes down to what data these devices collect and how these things will be used that cause experts to come up with predictions.
Here are four fields that the IoT will influence:
The most valuable data that is collected is location that is gathered from wearable devices. The technology installed on these wearbles inform systems of the specific location of the device. Sensors take charge to report temperature, activity, humidity velocity, sound and other factors. They also are capable of measuring other important scientific metrics like load, pressure, torque and chemical equations.
IoT addresses a wide spectrum of business functions by creating business opportunities. Some of the categories include supply chain management, remote monitoring and maintenance, real time financial analysis, business automation and location tracking.
IoT has the latent to turn over the way we work by enabling complete office automation with new technology. With so many smart gadgets coming up everyday like smart locks would imply that you can update your office key code through your smartphone so you will never have to change your locks for security reasons. There are a ton of other beneficial devices that can save energy.
Using IoT health related services can be offered in a fraction of time more economically by monitoring several connected devices. There are a whole lot of things that the internet can do in this field and increase the productivity in this sector.
Security concerns definitely cannot be overlooked when it comes to interaction between physical world and technology. This is an important aspect that professionals need to address before any technology is implemented to ensure the risks are minimized.
Get heard. In what aspect do you think the internet of things will greatly be affected? Let us know by commenting in the section below.