As you may already know, business technology is getting “smarter” all the time. But all too often business simply can’t keep up with smart innovations in favor of managing everyday tasks. In an independently organized TEDxCIT event, Head of Academic Studies at the Nimbus Centre for Embedded Systems Research at Cork Institute of Technology (CIT), Dr. John Barrett advised, with over 90 percent of the earth’s land surface now in possession of a mobile signal, the Internet of Things offers astonishing potential for positive change.
If you haven’t already begun to feel the increasing momentum toward connectivity, ISO, an independent non-governmental organization that brings experts together to share knowledge, support innovation and provide solutions to global challenges, described the race for IoT standards in “ride of your life” terms.
Whether your goal is greater operational efficiency, reduced cost, tighter asset management or closer property control, the same ISO article predicts IoT business technology will provide “billions in revenue growth and productivity over the next decade.” ISO added, “networked devices perhaps hold the most promise to cut costs and raise efficiency in production and manufacturing.” More importantly, IoT technology smartens not only management by making it more effective, but also the work itself gets smarter.
The Gartner Inc. Newsroom counted wireless sensor networks among the top ten IoT technologies to keep an eye on in 2017 and 2018, that will affect everything from business strategy to network design. Gartner spoke of IoT tools that must “be capable of managing and monitoring thousands and perhaps even millions of devices.”
In addition to the massive amounts of systems data such technology will produce, the big challenge according to Garnter Inc. is the commercial-technical trade-off which means a marketplace of many available solutions, but no single winner in the “vendor ecosystem.”
Forbes online suggests even if you don’t manage inventory or deal directly with technology (is that really possible?) IoT is still going to change how we do business in 2017. Wired into the same network, IoT will allow remote work and workers to be more connected and able to remotely manage the factory floor better than ever. Forbes also suggested, IoT will speed up the consumer buying cycle, allowing businesses to serve customers faster. And finally, there’s the “Holy Grail” of IoT pay-offs: greater productivity and efficiency, capable of scaling an enterprise to meet tomorrow’s demand.
IoT is the dawn of vast operational improvement, resource savings, and potentially, even a smaller Carbon footprint for a wide range of enterprise and leisure activities.
About Monnit Corp.
Monnit is a global leader in the design and manufacture of low-cost turnkey monitoring solutions for commercial, industrial and consumer markets, recognized by CRN as one of the “20 Coolest IoT Hardware Vendors,” for its innovation, devices, analytics and infrastructure that have transformed and improved the way we work and live.