Welcome to SandStorm IT’s 6-part series about the Internet of Things. In this series, we’ll shed some light on the basics of IoT.
Part 1 – What is the Internet of Things (IoT)?
Part 2 – Why do I care about IoT? (You are here)
Part 3 – What are some real-world applications of IoT?
Part 4 – What are the security concerns of IoT?
Part 5 – What devices do I have that connects to IoT?
Part 6 – What is the future of IoT?
Welcome to our 5th post in our series about the Internet of Things (IoT). In this post, we’ll go over the reasons why you should care about IoT from a business perspective. As we’ve pointed out in the other posts in our series, the Internet of Things is growing every day and will continue to grow rapidly over the next few years. By 2020, Business Insider Intelligence estimates that the number of IoT devices connected to the Internet will go from 10 billion to 34 billion (Source)
Why should my business care about IoT?
To answer this question briefly, the answer is “data”. The Internet of Things refers to an unlimited array of devices, from self-driving cars to health monitoring equipment and everything in-between. The Internet of Things allows for much more data to be drawn from many more sources. With the massive amount of data available from IoT devices, businesses can make more informed decisions, better allocate resources and operate more efficiently.
Overall, the Internet of Things is going to transform the way businesses receive data. An example of IoT’s impact on business would be if you were running an event and had a position overseeing the janitorial responsibilities. A trash can with a sensor could simply alert you when it’s filled. Another scenario is if your office printer is low on toner, it could simply order more.
Overall, the healthcare industry will be one of the most affected by IoT. Technologies such as remote real-time patient monitoring and equipment use monitoring will allow hospitals and doctors to provide a higher quality of care. Maybe one day, a majority of visits can be done remotely, just by the sheer amount of information gathered by IoT devices for doctors to analyze. Another potential huge sector where IoT can be game-changing is agriculture. IoT devices can be used to collect data about temperatures, precipitation, livestock, wind speed, humidity and other metrics vital to agriculture. The best part about it is that the data you are receiving is real-time data.
Another sector of our lives that will be majorly affected will be transportation. Fully autonomous, self-driving cars are looking inevitable, with backing from some of the world’s largest tech companies, such as Apple, Samsung, and Google. This could even be taken a step further and be a game changer in logistics as well.
Smart cities are also an exciting part of IoT. Barcelona recently made city-wide Wi-Fi available on parking meters, allowing for drivers to pay by using their mobile devices. In the future, smarter traffic lights in these cities may adjust to volumes and optimize traffic accordingly. Even the way you shop could be affected. Amazon recently opened the world’s most advanced retail store in Seattle to the public early this year. By using a variety of camera and sensors, the store can sense what you have in your cart. Once you are ready to checkout, you simply walk out of the store and your Amazon account is billed accordingly. This type of shopping may be the standard in just a few years.
If your company needs a hand incorporating the Internet of Things into your organization, feel free to contact the tech experts at SandStorm IT today at 901-475-0275.