Many organisations are considering the Internet of Things or IoT as standard these days. It is an innovative technology with innumerable applications in agriculture, healthcare, manufacturing, transportation, household and industrial security systems, smart homes, smart cities, etc. And as it becomes ubiquitous in business and home environments, every company should be considering an IoT deployment lest they be left behind.
What is IoT?
According to Oracle, “The Internet of Things (IoT) describes the network of physical objects—“things”—that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the internet.” And these little devices can go in your delivery trucks, warehouses, factories, offices and more. If the old idiom, “what gets measured gets managed” is true, IoT allows management on a scale never seen before.
Not only does IoT allow you to manage even very tiny details of your business, but it also creates a culture of data-based decision making. No longer must you trust the anecdotal evidence of a few key workers, IoT allows you to see real-time data from the source. And, since these systems are collating the data, it’s a real time-saver. According to Pvinova, “The great advantage of deploying an intelligent IoT solution in your company is to be able to focus on strategic activities that will bring better results without having to give up the care and attention that processes and operations control requires. The main difference is that with an IoT solution, the hours spent in these daily activities turn into minutes; query to multiple systems or worksheets ceases to exist and any information at any time is always a click away.” And that reduces your costs.
Every data collection and correlation event that’s automated saves employee time and therefore money. But that’s not the only place to make savings. According to IoT Now, “Intelligent IoT connectivity helps businesses improve the processes, maintenance, and reduce downtime costs due to faulty equipment. IoT-based management systems monitor different processes and facility equipment to help reduce maintenance costs.” And IoT can check for improper use which might lead to accidents too. Mishandling can lead to costly delays and employee injury, but an IoT-enabled workplace can head off some of these incidents. Plus, it can make your operation greener while making it cheaper too.
All this data input allows for machine learning and AI to make smart, green and cost-saving decisions faster than a human ever could. Tele2 states, “Both data and connectivity can drive business while also creating a sustainable future. Connected devices can cut the distance products have to travel, improve efficiency, create smart cities, drive [energy-efficient] buildings… the list of ways IoT can be employed to increase sustainability and reduce the use of resources is nearly endless.” And with a global focus on sustainability, green companies are set to rule the latter half of this century.
You’re probably seeing the value of IoT for your company now. So, it’s time to take action.