What Is The Meaning, Advantage & Uses of Internet of Things (IoT Technology)?

Each day, more and more items are beginning to use the Internet to connect to the cloud, thus forming the well-known “Internet of Things,” or “IoT”. The Internet of Things is a network of everyday objects or machines that communicate, collect, and transmit data over the Internet. Contrary to the conventional Internet used by humans, IoT consists only of smart sensors and other devices. Its uses include collecting operational data from remote sensors on oil platforms, collecting weather data and controlling intelligent thermostats.

From the Fitbits we wear, in-car Wi-Fi, to home-monitoring systems, it is estimated that 6.4 billion devices worldwide are connected. However, the efficacy of these devices is not limited to keeping consumers comfortable and happy. Communication between these machines is also widely used in the manufacturing and energy sectors to track machine operation, report failures, and issue service alerts.

For example, well-known sporting goods manufacturer ASICS uses Sales force to develop the company’s ‘Support Your Marathoner’ event website, which sends inspirational declarations on the tracking screen whenever a company-specific tag is detected on the athlete’s shoes.

The Internet of Things is developing rapidly. It is predicted that by 2020, the Internet of Things will cover 30 billion to 75 billion connected items, ranging from smart bracelets, toys, photo frames to medical equipment, seismic sensors, and aircraft.

Where can Internet of Things be used?

From computer hard drives to cars and air planes, all IoT-enabled devices can easily sense if certain components are malfunctioning or if they are nearing the expected end of life.

These devices will not only report this information to the enterprise through the CRM system but also take timely actions, including ordering replacement parts from a pre-approved e-commerce website or applying for new equipment and may even solve the problem before the consumer finds out about the same. Many companies use it to automate operations and manufacturing processes, remotely monitor and control operations, optimize supply chains, and conserve resources.

By using IoT-enabled devices, users can learn about the baby’s breathing and heartbeat during nap, or when the user forgets to take medicines that day, refrigerators can detect expired milk and order fresh supplies from the store before the owner reaches home.

Why is everyone talking about IoT?

The Internet of Things is bound to revolutionize business, especially the relationship between business and customers. Whether it’s building integrated customer service based on actual product performance and usage or providing highly personalized products and services, the Internet of Things can truly achieve virtual and integrated integration, creating a more engaging and more diverse customer experience.

Like the Internet, it also brings huge business opportunities to companies to help them fully realize their potential. Network giant Cisco, predicts that the Internet of Things will create an opportunity for companies and industries around the world to reach $14.4 trillion over the next decade. More specifically, according to their predictions, the Internet of Things will have an impact on society as a whole, 5-10 times that of the Internet.

What factors have driven the development of the Internet of Things?

Simply put, for the development of the Internet of Things, all conditions have now reached maturity.

In the past five years or so, the biggest change in the field of business technology has been the rise of smartphones, completely liberating users from the limitations of accessing the Internet only from computer desktops.

This directly leads to explosive growth in cloud and cloud application usage such as CRM and email, and the ability to access these services anytime, anywhere, thanks to the Internet-powered mobile devices. Now, corporate employees can access applications even on the road, without having to be tied to corporate networks and geographic restrictions.

The last key part is the widespread use of social networking technologies and communication networks and communities to use these resources to receive information, collaborate with others and ensure the right direction of information.

What is the significance of the Internet of Things for enterprises?

Not long ago, we also relied on face-to-face communication and telephone contact to build customer relationships. The entire communication process is lengthy and roundabout, with back and forth between producers and customers and retail employees, sales representatives, maintenance and complaints departments. But the Internet of Things has changed everything. Customer-related information can be automatically sent to your CRM platform and sent in real-time.