The Importance of IoT
Let’s assess the benefits of IoT more closely:
1. Cutting Costs
Maintenance costs can be all but eliminated with systems that run real-time diagnostics to detect shortcomings before workers even know, or devices that keep equipment running at their peak efficiency. According to DataProt, 83% of organizations have reduced their expenditures by implementing IoT technology.
2. Improved Efficiency
Efficiency ties in closely with cutting costs, because the same systems that prevent unforeseen repair expenses also help employees stay on top of their tasks more easily. Equipment that’s running smoothly is a game-changer for some industries.
There are also more hands-on technologies, such as an automatic file format converter. Imagine combing through each of your emails and all the time you spend ensuring that all documents are PDF and all images are JPGs – what if all of this could be avoided with a simple software that could do it all for you?
3. Business Opportunities
Industries and sectors that rely on real-time data benefit the most from IoT integration. For example, IoT sensors that can track speed and driving habits in cars and other vehicles would help insurers optimise their rates. Retailers can use the data IoT provides on customer habits and foot traffic, to improve the way they display their ads for maximum impact.
4. Industrial Internet of Things (IIoT)
The Industrial Internet of Things refers more to the operations of industrial companies. It gives access to systems that can run diagnostics and solutions remotely, often to protect people who would have needed to run these diagnostics manually.
By plugging an IoT device into a transformer of a large manufacturer, for example, you can capture and assess all the data the device needs to recognise any potential problems within the transformer. It taps into the transformer’s use of voltage, temperature and various other measurements and compares them with what it was told was healthy for the transformer to be using.
This kind of in-depth analysis spares workers from manually needing to bust into a transformer and take these measurements themselves, which in the past have led to injuries of all kinds.
Tesla is another example of some brilliant IoT technology. They have developed a system through while the Tesla vehicles are chargeable on their own without the manual assistance of a person. They also introduced a feature that allows customers to check and control the devices from anywhere, using their phones.