“Combining the Physical world to the virtual world by connecting the sensors, sensors will be everywhere”.
Organizations are hopeful that companies will eventually allow consumers to buy products based on their personal preferences, not just depending on price point. Governments of a lot of countries will increase the budget for technology firms to work on 'Internet Of Things' .
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But the rise of internet-connected devices is nothing new and is part of the internet of things, which
is the concept of ordinary items being connected to the internet and therefore being able to communicate with other devices.
This is rapidly changing the way companies operate as they want to find out more about their products. Where do they find the biggest problems? Some businesses are looking to use this type of data (collected from sensors) to change the way they operate starting from Retail, Manufacturing, Healthcare etc.
Although the concept wasn't named until 1999, the Internet of Things has been in development for decades. The first, for example, was a Coke machine at Carnegie Melon University in the early 1980s. The programmers could connect to the machine over the Internet, check the status of the machine and determine whether or not there would be a cold drink awaiting them, should they decide to make the trip down to the machine.
It also raises a big question on the Privacy, what will sensors capture, how they are programmed, what Personal information they capture, where the data is stored, how its analyzed and then categorized.
The problem is, people have limited time, attention and accuracy --
all of which means they are not very good at capturing data about things in the real world.
If we had computers that knew everything there was to know about things, using data they gathered without any help from us; we would be able to track and count everything and greatly reduce waste, loss and cost. We would know when things needed replacing, repairing or recalling and whether they were fresh or past their best.
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What It Means For Your Business?
IoT impacts every business. Mobile and the Internet of Things will change the types of devices that connect into a company’s systems. These newly connected devices will produce new types of data.
The Internet of Things will help a business gain efficiency, business intelligence from a wide range
of equipment, improved efficient operations and increased customer satisfaction. It will also have a profound impact on people’s lives.
It will reduce risk and improve public safety, transportation and healthcare with better information and faster communications. While there are many ways that the Internet of Things could impact society and business;
Three Major Benefits of IOT that will impact every business, include:
- communication,
- control
- and cost saving
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