The IoT Creating New Growth Opportunities For Businesses

The IoT has the power to transform the businesses of any industry. It can improve employee efficiency, deliver better customer experiences, and track supply chain, assets and operations. IoT networks connect people, processes and applications so that businesses can quickly adapt to changing conditions

- Deepshikha shukla

Our needs have evolved beyond the basic necessities of food, shelter and clothing. We have developed a number of devices to make our lives simpler and better. We want easy control of devices around us, and do not want to wait in queues to pay toll taxes or utility bills. We want to monitor our health status, track our assets and vehicle movements from a single device.

As technology grows, IoT solutions will change the way we live, work and do business. The IoT is a combination of hardware, like sensors, connectors and gateways, and application software in a single system. IoT devices can communicate with each other and also with an IoT hub, which could be a mobile app or a server. A hub collects data from devices and analyses it to provide meaningful output to users.

Benefits of IoT solutions for businesses

The tiny sensors can be attached to everything from LED bulbs to self-driving cars. These record and send data to the cloud. This allows collecting specific feedback on how products or equipment are used, their lifespan and future requirement of users. It also helps companies make smarter products, enable smarter business operations and make smarter decisions.

The driving philosophy behind the Industrial IoT (IIoT) is that, smart machines are good at accurately and consistently capturing and communicating data. This data enables companies detect reasons for inefficiencies and problems sooner, saving both time and money.

Enhanced flexibility, higher speed and increased efficiency in the production process are the objectives of adapting IoT solutions for businesses. Development and adoption of the IoT are being driven by multiple factors, including easily available low-cost sensors, increase in bandwidth and processing power, wide usage of smartphones, availability of Big Data analysis tools and scalability of Internet Protocol version 6 (IPv6).