Internet of Things
The Internet of Things (IoT) refers to enabling everyday objects for Internet conductivity to produce some form of data centric utility. According to Gartner, roughly 6.4 billion connected “things” worldwide will be in production by the end of 2016, a 30 percent increase from 2015. This number is expected to mushroom to more than 20 billion by 2020.
Many of these devices exist in the form of low-power miniature sensors capture data around the clock. Because these devices don’t have a human interface, they are not bound by the limitations of human input. Likewise, these devices are very inexpensive to operate, allowing companies to deploy vast quantities of them to strategic locations throughout their operation. These devices communicate their captured data to powerful backend algorithms which are usually ported to cloud storage systems.
The Internet of things is “always on,” meaning data is increasingly made available in real-time or near real-time. The New York Stock Exchange, for example, captures more than one thousand gigabytes of data during each trading day. Likewise, modern cars have close to 100 sensors that monitor items such as fuel level and tire pressure. The resulting tsunami of data can quickly turn into a storage and administrative nightmare for corporate CIOs. Most companies are unprepared for the flood of data their legion of interconnected objects will produce.
But with every challenge comes opportunity. Companies that can parse this deluge of data will position themselves to profit in ways they have never experienced before. Many of the IoT initiatives we’ve seen so for focuses on cutting operational costs and boosting supply chain efficiency. However, the greater long term value of sensor technology lies in a granular, more detailed view of customers and the experiences they find compelling.
Do you have a Internet of Things offering that must get the attention of C-level executives to gain traction in the market? CIO Copywriter, has written extensively on the topic, and understands what business and technical leaders need to hear to schedule your next demo. Contact Eric today at 404-643-5379 or visit his contact page.