What is internet of thinks? How is it going to impact your business?
Technology has played a major role in the change that we have seen in past few years. Human has become more machine dependent than ever before. The modern-day machines are becoming smart and next few years are expected to see the technologies that we could not have think of some years ago.
Internet of Things (IoT) is one technology which every industry is trying to make the use of. Especially the big corporate companies are working on to fit their traditional business models into the world of IoT. Before going further we would like to discuss what IoT is.
Internet of Things is the technology in which physical objects are embedded with sensors, software, mobile phones and hardware and internet connections which mainly helps in storing and exchanging data. It is the next big thing to use the internet beyond smartphones, laptops, desktop and tablets. With IoT, internet will be connected with many other things that we use in daily life such as automobiles, fans, refrigerator and many more. IoT can change most industries including healthcare, manufacturing, transportation.
How IoT will change the way we do business
1. More efficiency and productivity
Being the owner of a business, you will be able to control every aspect of your company from inventory to managing field service employees. With IoT, it becomes much easier to control multiple things. This will help you to expand your business in new areas.
With IoT, its all about data. Marketing experts love data to analyse customer behaviour and IoT will do wonders for them. IoT devices will track and record patterns of consumer and companies will recommend products according to these patterns.
3. Cheaper and smarter products
Every product is getting smart and IoT will help for companies to develop smarter things. It will allow workers to increase their productivity for increasing production which will lead to cheaper rates.
4. Ordinary workforce will decrease
This will be a big negative for the less educated people in the industry. With IoT everything will get smart and to run the smart machines workers will have to update themselves for working on these machines. The jobs which mostly include ordinary tasks will be replaced by machines.