IoT, or rather the Internet of Things, is often referred to as the Internet of Everything. And for those of you that are not that familiar with the term yet, essentially it refers to an extremely large network of devices that can “talk” to each other in order to exchange and analyse information – often in a split second of time.
In fact, you are already interacting with this network as you read this article, as the chances are you are reading it on a mobile phone or tablet – right? You are also probably wearing a device that counts how many steps you have done today… well, that’s called a wearable. These may be everyday items in your eyes, but these technological advancements have impacted the way we live these days and how we run our businesses too.
Think about it. What about the ability of the components in large machines and systems used in aeroplane engines? Or the devices made with built-in sensors and Wi-Fi capability? These sensors and connectivity capabilities are what allow these systems to be ‘smart’ and talk to each other. And because the Internet keeps getting more sophisticated and technology costs keep coming down, IoT is now more accessible than ever.
From a business perspective you can use IoT for a lot of things – to execute predictive maintenance, track production line efficiencies, monitor devices, detect and troubleshoot issues remotely and much, much more – all of these areas create huge implications for revenue. So much so that the McKinsey Global Institute report, The Internet of Things: Mapping the value beyond the hype, predicts IoT will have an economic impact of between $4 trillion and $11 trillion by 2025.
Many of our clients use IoT too, thanks to our Business Mobile Data product:
- Olarm gives customers remote control over their alarm systems where they can view a history of all events and activities logged by the alarm system and receive alerts through push notifications just by using an iPhone or Android device.
- UGU: use it to implement smart energy management systems.
- South African Courier Systems are able to track their vehicles and packages using our Business Mobile Data solution.
- Namaqua Wines have implemented smart/automated agriculture systems.
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