Billions of things are talking to each other. Everyday objects like umbrellas and toasters are collecting and exchanging data through a connected network known as the Internet of Things (IoT). Gartner predicts by 2020, 20.8bn devices are expected to be using IoT. This new era is fundamentally changing the way businesses operate and we’re only just beginning to realise the possibilities of an IoT-enabled world.
You may also like to read this related blog: “How to use big data?”
Here’s 3 ways IoT can change and improve the way you work:
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Data collection
One thing people can’t do as well as technology is data collection. Machines can collect data much quicker, with 100% accuracy on a much wider scale and frequency. Before things like sensors and wearables, data had to be collected manually through lengthy walk-through studies and surveys. Results of course were inaccurate and the frequency of data was limited to budget and time. IoT-enabled devices can be programmed to collect data as frequently as wanted, which can be used for multiple purposes across the business.
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Accurate Analysis
IoT devices allow you to capture big data in tiny amounts of time. The trick is knowing how to decipher the data and identify what information you need to solve the problems or questions you have. Algorithms can be developed to help businesses extract the meaningful information they need and unveil trends that demonstrate what is needed. The data analytics might also highlight problems you weren’t even aware of.
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Drive Decisions
These vast data sets and intelligent analysis will ultimately help to drive decisions. Having accurate data at your fingertips to base decisions on limits mistakes and unforeseen costs; all of which empowers people and their ability to back or make big business decisions.
IoT can help to make future-proof, long-term decisions and also measure the ongoing performance of a business.
Accessible
Cloud technology lets people access the collected data through smart devices anytime, anywhere. This means people can view real-time data instantly, ideal for reports and meetings or even to make decisions on the spot.
The opportunities
Corporate real estate teams have begun to see the scale of opportunity for greater efficiency within buildings. IoT devices such as workspace occupancy sensors can measure exactly how much a space is being used and present the information back to CRE teams. This helps them understand their entire property portfolio and make informed decisions based on precise data. The information from the sensors can also be sent to other IoT-enabled things like building management systems, to help control when lighting and heating should be switched on/off depending on the current occupancy of a space. And this is just the beginning, the data can simultaneously talk to a building’s smart meter for monitoring efficiencies and also be sent directly to the power supplier so that they can better manage energy distribution.
IoT is a real gamechanger for businesses, so be sure to familiarize yourself with the rules.