What is Internet of Things? & how is steering the wheel of on-demand economy

by SFJ Admin | Sep 22, 2019 what is IoT

What is Internet of Things?

With the intervention of technology in a digital world, Internet of Things (IoT) is a rapidly growing computing concept that connects any physical object to the internet and enables them to identify themselves to other devices. From a patient with a pacemaker to an inbuilt automobile sensor or a farmhouse animal having biochip transponder, anything can be termed under IoT, because these have an assigned IP address and have the ability to transfer data.

Poised to achieve a milestone, several industries today are leveraging IoT to improve efficiency, improve decision-making quality, a better understanding of customer for enhanced delivery and lastly increase the business value.

Merging of wireless technology, micro service, and micro electromechanical systems (MEMS) has led to the evolution of IoT over the years. This convergence helps to reduce the silos amid Information Technology (IT) and Operational Technology (OT). Furthermore, it enables the analyzing of unstructured machine-generated data for gaining insights that can drive improvements. Evolutions of IoT from machine-to-machine have helped networks to connect without any human interaction on a cloud network, where the data is collected, stored, and managed.

Uses of Internet of Things:

The Internet of Things comprises of web-enabled smart devices which use sensors, embedded processors and communication hardware for collection of data, sending them, and acting accordingly. These IoT enabled devices to share the data to an IoT gateway where either the data is analyzed locally or by cloud computing. Many a time, these devices connect and act according to the information collected with any human interference. The deployment of any IoT application solely depends on the networking, connectivity, and communication protocol used by the web-enabled devices.

Today, Uses of IoT has become increasingly important as it helps people to live a smarter life and have full control over it. From automated homes to smart devices, IoT has become essential in every day’s life. For business development, IoT provides a real-time picture of the ways in which a company should function and deliver them insights about supply chain, the performance of machines, and logistics.

IoT has enabled the business to become automated, thereby reducing labor cost and cutting down on waste generation. Besides, it has improved service delivery not only in terms of quality due to reduced cost of manufacturing, but as well offers transparency while transacting with customers. In today’s tech-savvy world, IoT is deployed in every industry, from finance to healthcare, retail, and manufacturing. Thus it is one of the essential technology of everyday life that will continue to grow as more businesses realize its potential.

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