Technology and data have been changing the world of business since before the first spreadsheet, but now the internet of things looks poised to shake things up again. Some tech is obvious and easy to understand, but internet of things can be nebulous and confusing to most people. One issue with understanding IoT lies in the lack of a clear device or software which embodies the concept. IoT has been changing the way businesses make decision for a long time now, but the pace will only accelerate with the advent of smaller and more capable computers.
All businesses need to asses their possible benefit from the Internet of Things because data driven decisions lead to otherwise overlooked cost savings. Wasted time and resources don’t always come from clear and obvious issues, sometimes there are small delays which have always existed in a process which traditional techniques have been unable to remove. Connecting a business with IoT can lead to a deeper understanding of how common operations run and how to refine workflows and predict possible issue down the road.
Using the Internet of Things to save money and anticipate needs doesn’t require any serious changes to a company’s structure or workflow, it simply requires devices to be gathering data and sending it to a central location for analysis. Engineers could use this data to understand how their process is running, or how their equipment in the field is performing. For example an oil and gas company could use IoT to monitor the current draw for a pump to not only ensure the pump is working, but that it is working efficiently. An increased current draw could signify an issue with the pump or the pipeline before there is a failure.
Preventing failures represents one clear use of IoT but Microsoft has been building software which can be applied to a diverse range of scenarios and applications. Different industries have different needs and different levels of complexity and need robust solutions. The bottom line however remains that IoT has massive potential for companies to refine their operations and get a competitive edge in their industry. Any company who delays in their investigation or experimentation of IoT could face more challenging competition in the near future.
The shift to using the Internet of Things relies upon companies to implement the devices and solutions in their own companies. Unlike consumer electronics which have millions of people to adopt the technology; IoT give big advantage to companies with complex operations so there are less people implementing this technology. Lots of companies have begun implementing state of the art Internet of Things data collection and processing solutions and have been improving their company to eliminate waste and inefficiencies. It is inevitable that IoT technology will become pervasive across industries to make the world a more efficient and connected place. Businesses will be able to cut costs without cutting people; engineers will be able to target issues before they cause failures; consumers will have their products produced with less waste and hopefully a lower price.Further reading: Internet of Things (IoT), Microsoft, Windows 10