[IMAGE: JESSE HARP]
More Internet of Things devices come online every year, and they are already making an impact not only on the way we live our lives but also how we work. But what exactly is the Internet of things and what impact is it going to have on you, if any?
IoT opens up a lot of interesting development opportunities in the form of platforms & applications, and new development areas. It has the potential to touch every domain, and nearly every aspect of human life. These numbers indicate the massive scale of impact IoT is expected to have:
– 50 bil. devices connected to the Internet worldwide by 2020
– 7 connected devices per person by 2020
– 8 bil. mobile broadband access points by 2019
– 4.5 million IoT jobs by 2020
– $14.4 trillion of value over the next decade
– 50 devices connected to the Internet worldwide by 2020
Metrics will be used in real time
Internet of Things creates massive amounts of data that can be analysed and used to make better decisions. This data can be analysed and used in real time. That means data is collected and instantly put to use to make improvements.
With IoT, information is turned into action at an unprecedented speed. Not only will technology respond to data and changes instantly, but it will be able to be used to predict problems and take actions to prevent them. Constant monitoring can detect major issues and mitigate them before they happen.
Everything will be measured
Internet of Things means that everything from household appliances, to construction equipment, to vehicles and buildings will transmit data and communicate with other objects or people. That means everything will be able to be measured and tracked all the time. Cloud-based apps and tools will be able to analyse and translate that data into useful information. All this data can fuel better decisions and help develop better outcomes. Big Data has already made waves in nearly every industry, showing the value of information and analytics. Imagine the possibilities if nearly every object used in a day transmitted data that could then be smartly analysed in real time.
Actionable data will be shared
All the data that Internet of Things will be shared among co-workers, stakeholders and other parties. For example, think about how wearable tech allows individuals to collect health data and share it with doctors and providers, to improve care. When this type of technology is applied in other industries, the impact will be huge.
Monitoring the effectiveness of strategies, the results of campaigns and the efficiency of systems becomes easier and more actionable when more people are in the loop. The ability to connect and share data has the possibility to bring diverse departments together like accounting and HR to make decisions everyone can agree on.
Internet of Things is clearly on a growth curve. The implications of IoT are huge, the entire planet will become a unified, brain-like system. It sounds like a far-off, futuristic concept, but IoT is imminent.