Ten years ago, it would
have been strange to stand alone in a room and tell that someone named
"Alexa" to order pizza -- but today, most of us take in stride the
virtual assistance that AI provides. With the Internet of Things (IOT), consumers can now take on impossible tasks with ease. Answering the front door from a beach hundreds of miles away is easy; feeding the dog during a long night at the office requires only a few quick taps on a smartphone.
With all of the feats it makes possible, IOT (Internet of Things) tech has developed a reputation for redefining how ordinary consumers enjoy their at-home experience. However, smart home devices constitute only a small tip of the overall IOT iceberg. Advances in technology stand to revolutionize the business world as much as if not more as they have our personal lives. That said, while the commercial opportunities in IOT App Development are well-hyped in the media, many corporate executives have so far been cautious, remaining on the sidelines of this developing field.
Today the question remains: Is it finally time for company leaders to take part in the technological revolution and integrate the Internet of Things into business life? Or is the commercial world still too wary of IOT's strange potential to take advantage of it?
Related: 25 Innovative IoT Companies and Products You Need to Know
Analysts describe the Internet of Things as "the interconnection of machines and devices through the internet, enabling the creation of data that yields analytical insights and supports new operations." IOT solutions use these connections to cross-utilize wireless communications, networks, the cloud, and data storage. In doing so, they offer considerable opportunities for handling and analyzing massive amounts of data across geographically disparate locations.
Related: 4 Reasons to Be Excited by the 'Internet of Things'
Because these solutions can process more real-time data in a set period than a human could ever hope to, they also play a crucial part in developing financial decisions by providing real-time insights into the state of the business as a whole. The actionable intelligence sourced from IOT solutions complements that from a company’s accounting systems and enterprise resource planning (ERP) and, when taken together, can provide executives with a bird’s-eye view of the venture’s state and provide insights into potentially lucrative financial strategies.
Learn More: https://www.entrepreneur.com/article/328949
With all of the feats it makes possible, IOT (Internet of Things) tech has developed a reputation for redefining how ordinary consumers enjoy their at-home experience. However, smart home devices constitute only a small tip of the overall IOT iceberg. Advances in technology stand to revolutionize the business world as much as if not more as they have our personal lives. That said, while the commercial opportunities in IOT App Development are well-hyped in the media, many corporate executives have so far been cautious, remaining on the sidelines of this developing field.
Today the question remains: Is it finally time for company leaders to take part in the technological revolution and integrate the Internet of Things into business life? Or is the commercial world still too wary of IOT's strange potential to take advantage of it?
Related: 25 Innovative IoT Companies and Products You Need to Know
What is the Internet of Things, exactly?
Understanding what IOT can do for business starts with understanding IOT itself. Most laypeople know what these devices can do in their daily lives; however, providing a technical definition is often an entirely different challenge.Analysts describe the Internet of Things as "the interconnection of machines and devices through the internet, enabling the creation of data that yields analytical insights and supports new operations." IOT solutions use these connections to cross-utilize wireless communications, networks, the cloud, and data storage. In doing so, they offer considerable opportunities for handling and analyzing massive amounts of data across geographically disparate locations.
Related: 4 Reasons to Be Excited by the 'Internet of Things'
What can it do for business?
The primary benefit IOT Appliction Development provides business lies in its capacity for boosting day-to-day efficiency. These solutions use data collected from social networks, traditional media, and internal and external networks to provide actionable intelligence that empowers machines and people to optimize their behaviors. Well-integrated IOT technologies can offer company leadership valuable feedback into how a company might improve their product functionality and better their user experience, as well as streamline production processes and supply chain management.Because these solutions can process more real-time data in a set period than a human could ever hope to, they also play a crucial part in developing financial decisions by providing real-time insights into the state of the business as a whole. The actionable intelligence sourced from IOT solutions complements that from a company’s accounting systems and enterprise resource planning (ERP) and, when taken together, can provide executives with a bird’s-eye view of the venture’s state and provide insights into potentially lucrative financial strategies.
Learn More: https://www.entrepreneur.com/article/328949
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