Posted on Wednesday, November 1, 2017 by Hunt Hawkins
New to the Internet of Things? Wondering how it can save your business money and time by adding cutting-edge technology? Read on and learn how IoT networks are changing the way we interact with the world one device at a time.
If you have been keeping up with the latest in technology or economic trends, you will have surely heard the term the Internet of Things (IoT). It is quickly becoming the heart of the Fourth Industrial Revolution, a concept promising to change the way we interact with everyday items. Analyst firm Gartner predicts there will be 8.4 billion connected devices (or things) in 2017. But what exactly does it mean? What is the point of it? In simple terms, the Internet of Things refers to a network of devices connected to the internet. In the industrial space, this allows almost any item to send and receive data via the internet, allowing optimization and data analytics.
Why — you might ask — do we want our socks connected to the internet? In short, we don’t. Even though there have been constant attempts at connecting any and everything to the internet, even if it makes no sense (e.g., toasters, water bottles, juicers), in the industrial space there are many use-cases that make sense to help companies optimize and watch over different assets and important trends. According to the global research organization Software.org: the BSA Foundation, the Internet of Things has the potential to generate up to $11.1 trillion a year by 2025 in global impact. Digital Six Labs is poised in a perfect position to bring the industrial space online and help guide future decisions, opening the door to maximize profits in a more intelligent and efficient way.