When you think about the “Internet of Things” — what comes to mind?
Wi-Fi technology? Bluetooth?
Although these methods of wireless communication are certainly part of the big picture, they only scratch the surface. The IoT covers a massive scope of applications and industries, ranging from business analytics to “smart city” applications, blockchain technology to cloud platforms, and everything in between.
Here’s what you need to know about the IoT
Although most people associate the Internet with their phone or smart home appliances, the majority of IoT devices are actually utilized within businesses, factories, and the healthcare industry. By implementing IoT technology, a wide range of industries are able to access critical data, increase efficiency, save costs, track inventory, and even save lives.
Defined, the IoT is essentially a network of devices that are able to transfer data based on their connectivity to the Internet. This system of devices has rapidly grown and by 2020, it is said that there will be more than 26 billion devices connected (some even estimate as many as 100 billion).
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This growing network is supporting a plethora of relationships, including those between people and other people, people and things, as well as things and things. From computers as small as a grain of sand, known as smart dust, to a collection of sensors that connect an entire city, the IoT appears to have no limits.
- When it comes to how the IoT connects the world around us, most real-life IoT projects combine both wireless and fixed connectivity. This can occur on all levels (i.e. between devices, between devices and the cloud, or even between long distances such as the connectivity of cellular and satellite devices). The connected data is where the value of the IoT begins and each option is represented by power consumption, bandwidth, and range.
- In terms of the “things” associated with the IoT, the list is nearly endless. Whether you are aiming to measure temperature, capture location data, track movement, or simply communicate with another human (or machine), there are IoT-enabled devices, sensors, and other physical objects that allow you to do so.
Of course, once all of this data is collected, it must be effectively managed.
How the IoT has changed the way we do business
Enhanced connectivity has revolutionized the world of business. The IoT has allowed businesses to oversee operations like never before. In turn, this has led to smarter decision making, improved productivity, and more proactive business strategies. Many businesses are also benefiting from the ability to detect and isolate issues, increasing the level of immediate control.
From automated services to enhanced customer engagement, the IoT has continued and will continue to change businesses around the globe. Although the top three industries in terms of IoT spending are manufacturing, transportation, and utilities, there are a variety of sectors that are experiencing exponential growth based on this evolving technology.
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As mentioned above, once data is collected, it must be integrated and effectively managed. However, this is the barrier that most companies face today. It is easy to collect data, but once collected, how can that data be utilized to enhance an organization’s objectives?
This is why a data management strategy is imperative to the growth and future success of businesses. There is also the rising security concerns that come with data collection. Whether you are looking to better protect your current data or enhance communication, Stronghold Data can help.
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