The Internet of Things - What does it actually mean? And what does it mean for your business?

Wednesday, 16 September 2015

Wednesday, 16 September 2015

There are already 15 billion connected devices in the world, and have been around since 1974. ATM’s were the first truly ‘Connected Devices’ and the current and future applications of these services is going to present a huge number of opportunities to business.

Intel predicts that there will be 200 Billion connected devices by the year 2020 which is 26 for every person in the world, but what is the Internet of Things (IoT), and what does it actually mean? The IoT refers to any device that is ‘Connected’ to the internet to either send or receive information without the need for human intervention which means more effective processes with reduced overhead costs. The simplest example of this you may already have in your home. ‘Smartmeter’ energy meters can automatically send your current gas or electricity usage mean you no longer need to worry about reading the meter saving the gas and electricity companies a huge number of man hours, and also make sure you get the right bill at the right time without needing to back-date charges or provide updated readings as done previously.

So what does this mean for your business?

CONSTRUCTION AND MANUFACTURING – the internet of things is going to allow checks on manufacturing processes, material ordering and tracking in real-time speeding up delivery times.

MEDICAL INDUSTRIES - remote monitoring through wearable technology and diagnostic equipment will allow patients to be monitored 24/7 from remote locations meaning emergency treatment can be deployed as and when required and medication and prescriptions can be automatically altered to match a patients’ requirements.

LOGISTICS AND SHIPPING – the internet of things is going to allow businesses to quickly identify the whereabouts of a shipped item and also track delivery times and dates based on real-time information. Imagine being able to see a map of exactly where your package is on its way to its destination and being able to provide this real-time information to your clients. it can also provide real-time information such the humidity and temperature inside a container for shipping goods such as flowers or fruits.

ENERGY AND UTILITIES – wind turbines, solar panels, metering equipment and monitoring of how much energy is being both used and generated is going to make sure we get the energy we need, when we need it in the most economical way and ensure we are billed correctly for this energy. The facility to remotely monitor these services with real-time information means that faults can be picked up early and machinery can be controlled and fixed without remotely.

SERVICE INDUSTRY - For those in the service and face-to-face businesses industries the internet of things is going to change the way your business interacts between you and your customers. The face-to-face and personal nature is still going to be as important as ever, but at that point of interaction your staff will have a wealth of information about the customer never before available.

These are just 5 of the many sectors that are positively affected by the Internet of Things – to find out how your business sector can benefit, please get in touch.

Written by Martin Kershaw 16/09/2015

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