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Embrace It or You’ll Be Left Behind

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With the advent of the much talked about Internet of Things, the technologies for transformative business applications are at hand. Sensors and smart devices are very pervasive nowadays, that we encounter them in most of our daily activities: from your phone’s GPS which apps like Waze use to guide your driving, to your wrist watch that checks your vital signs.  Explosion of “cloud” data storage have enabled new on-the-go web and mobile services. Streaming data and being able to access them anytime anywhere, drive new data insights in real time. Taking the connectivity infrastructure aside (Telcos, WiFi speeds, etc) which may vary from country to country, the impact of IoT technologies to society cannot be understated. It can transform the way we perceive the world, and the way we use information.

With these technology availability, many companies are still slow to recognize and act on these astronomical opportunities. Wait, what? How “astronomical” are these opportunities? Get ready to be startled. We’re talking about a trillion-dollar market, and tens of billions of sensing devices in the next 5 to 10 years. Dare to grab a piece of the cake?

This infographic from Postscapes and Harbor Research shows in figures the IoT forecast (shared under Creative Commons Attribution license).

Whichever  industry you belong  and whatever your organization does, leveraging IoT for your business (whether for operations, product development, marketing/sales, or decision making) creates a solid impact to your business presence. Clearly, the steps that you take now are going to position you for the next wave of reality.

Quoting from a whitepaper discussion of Jason Mass from analytics company SAS: 

“First, the opportunity to leverage IoT as a competitive advantage is here now, so take it. If you think you don’t have an IoT use case, you need to think harder. There are opportunities across all industries. The slow progress of others can create opportunity for your business today. But if you’re not working on IoT, you may fall behind quickly.

Second, taking advantage of IoT requires different ways of thinking – about how data is used, how much of it we can handle, how fast we can process and analyze it, and ultimately where and how decisions are made. This is not just a chance to better inform and automate business processes; it is a step change in capability that provides unprecedented opportunities in business integration and customer connection. “

At IoTUpBeat, it is our mission to bring you valuable insights for integrating IoT into your business. A vital arm of this blog is the “Use Cases” section, where we feature real-world IoT deployments all over the world, as well as discuss new use cases that open your eyes to enormous possibilities. Whatever your local experience, current conditions, and growth goals, there is always a path to the Internet of Things for you.

 

Tags : analyticsdeviceinternet of thingsiotmarketsensors

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