In today’s generation, almost everything is already connected to the web as part of the Internet of Things. But what really is the Internet of Things? As defined by Matthew Evans, the IoT programme head at techUK, the Internet of Things is made up of devices – from simple sensors to smartphones and wearables – connected together. In this article, we are going to find out how the Internet of Things can actually benefit us and our businesses.
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In an article by WayPost Marketing, we are going to find out if your business can benefit from the Internet of Things.
CAN YOUR BUSINESS BENEFIT FROM THE INTERNET OF THINGS?
We here at Waypost Marketing are here to help you simplify the internet, but we also want to make sure you understand as much about the internet as possible. To help you in your understanding, enjoy this guest article from Gregory Wolf at Wolf Technology Group in Greenville, South Carolina.
The Internet of Things (IoT) is rapidly becoming one of the top emerging trends in the world of technology today. If you consider yourself an IoT newbie, you’re probably wondering, “What is IoT and how can it help my business?”
The Internet of Things is a term used to describe devices that are connected to the internet for the sole purpose transmitting critical data back into the cloud for further analysis. The data generated by IoT devices could be a game changer for your organization.
Gartner says that over 20 billion IoT devices will be in use by 2020. Gartner’s market research also found that spending on IoT technology has increased by 30% from years 2015 to 2016. With so much momentum behind IoT, what business sector stands to benefit the most? Read more here.
There are guidelines provided above if you want put the Internet of Things to work for your company. Some of the questions you could ask yourself are: Could any of these processes be streamlined to save the company money? What would need to happen for the cost of a good to be reduced? and Could IoT replace the duties of some of your employees? Other information provided above includes how you could find the right IoT device for your business and more.
Now, QuickBooks Canada Team will give three ways the Internet of Things can benefit your small business.
3 Ways the Internet of Things Benefits Your Small Business
The internet of things, also known as the IoT, is the inter-networking of various types of smart devices, buildings, and vehicles through a variety of embedded sensors, actuators, and software. The result is that the objects can collect, share, and analyze data in a way that results in efficiencies not possible in the past. The global IoT industry is expected to be $1.7 trillion by 2020, with a compound annual growth rate of about 17%.Microsoft Canada conducted a surveyof top-level Canadian Executives. As of 2016, over half were completely unaware of what the internet of things was, 72% said they were confused by it, and 24% said they had no sense of how it will affect business. Here are three reasons how it will.
Real-Time Operations with More Efficiency
In the coming years, businesses will likely upgrade their equipment to ensure that the all the devices are “smart” and connected to the internet. More connected devices leads to greater efficiency and greater intelligence in the marketplace. The more IoT devices a company uses, the more intelligent operational decision will become, and the greater the company’s advantage will be. Read more here.
According to the article, with IoT, there will be real-time operations with more efficiency, companies can create smarter products, and there is exponentially more data collection. Those are just some of the benefits becauseBroadband Solutions will give us more of the benefits of IoT for business. Let us read below.
Benefits of IoT for Business
Australia’s IoT (Internet of Things) market is tipped to be valued at A$1 billion by 2020. While we are in the early stages of growth, the industry is already laying the foundation for this huge industry’s growth in the year’s to come.
While it has so much further to go, the Internet of Things revolution has already begun. We can now enable farmers to remotely manage their property, add new features to cars just by a wireless software update or allow a freight company to monitor the mechanical and location status of their fleet. These tools are enabling local businesses to compete on a global scale in a way they have never been able to before.
‘Internet of Things’ Increases Automation
IoT allows businesses to automate process and monitor equipment they would previously have to do manually. This type of automation saves time, allows businesses to assign staff more important tasks, and importantly, helps them make more money through lower margins and better efficiencies. Read more here.
There are four benefits given above and they have used RyanAir, an Irish airline, as one of the best examples of businesses utilizing IoT. So as mentioned above, IoT increases automation. You could go paperless with Iot. Everyone and everything is connected and IoT also has monetary benefits. With all those benefits, it is undeniable that the Internet of things has really made activities and processes easier and more convenient.