Ten years ago, the Internet of Things (IoT) would not have been possible. The idea of gadgets and appliances fitted with chip technology and sensors that are capable of communicating online is a relatively new concept. As concepts go, history has taught us that the “boffins” that come up with the innovations have a much better idea of how to use them than the actual people they have been designed to help.
This has never been truer than with the IoT and the business community that will ultimately get the benefits. Ask Mr Average what IoT stands for and you will often get a blank look. However, by 2020, we could get around 50 billion devices connected to the internet. In last year’s Gartner Hype Cycle, it was revealed that the IoT has already overtaken big data as the most hyped technology.
You can’t escape the fact that the IoT is already a vibrant part of the IT and business world, and firms are already reaping big benefits. We are at the beginning, and companies across the globe have a significant opportunity in front of them, but one of the greatest hurdles that all sectors of industry and commerce will face is the sheer volume. The massive influx of connected devices that will find their way into the workplace may overwhelm employees and employers with the amount of information that becomes available. How companies use this data will be the key to success. As the IoT grows, companies are going to have to rethink how data is managed, and they will need to work closely with service providers for the best course of action.
The IoT will bring companies the data, but they have to make sure that it doesn’t go to waste.