Making Data Work For Your Business: The Promise of the Internet of Things

Since the concept was first popularized in 2009, the Internet of Things (IoT) has captured the imaginations of engineers and innovators, nonprofit organizations and technology firms, and a wide array of other individuals and organizations.

In a recently published article entitled, “The New Promise of the Internet of Things,” Stella Voutsina, writes:

“In the midst of the new age of connected home appliances, the continued success of Amazon’s Alexa, and the introduction of Google Home, the competition to be the “iPhone of the IoT age” is well underway,” adding that the era of the industrial internet has the potential to disrupt the global economy in a scale larger than any previous industrial revolution. “The big technological advancement: the Internet of Things (IoT) or the Internet of Everything (IoE) has the potential to change the way we live and work, and create a significant economic impact on society.”

Right now, IoT, sensors and devices are generating data at an incredible pace and it’s being put to use in ways that are directly affecting the lives of people.

“The IoT allows devices and people to connect via the internet so new actions can be enabled. The main ability of IoT is to gather and exchange data from various sources in such a way that the data becomes actionable and lets devices and users make decisions based on it,” Voutsina writes.

We are quickly moving from a physical world to a digital world, and thanks to the Internet of Things (IoT), data has become the key to business success and new levels of consumer satisfaction.

“Most organizations have shifted their focus from collecting “big data” to the more pressing questions such as: “What should I do with the data I have?” and “How can we extract useful insights and then make them work for us?” The quality of data and information collected now removes the guess work for most organizations,” Voutsina writes.

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