Very much like 'Cloud computing', the term 'Internet of Things' (IoT) has been banded around for a couple of years now. Research firm Gartner predicts there will be 6.4 billion "things" electronically connected in 2016, a 30 percent increase from last year, and that the number will jump to 21 billion within five years.
These devices are able to connect to one another and to the Internet, making the “Internet of Things” a tool to enable new opportunities that improve business processes and outcomes, bringing new efficiencies to enterprise business models.
Cloud computing has completely changed the economics of these connected systems allowing businesses to have greater operational awareness and enjoy the power of predictive analytics.
The Internet of Things requires a rethink about what your organisation does and the way it does it. While there are no limitations, there are a few key areas that present immediate opportunities for companies of all sizes:
- Preventative maintenance
- Remote monitoring
- Asset tracking
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