The Internet of Things isn’t a new thing anymore. Since its development, IoT has unlocked invaluable insights for countless organizations, enhancing their businesses with more intelligent processes. But some companies are still hesitant to dive into this game-changing technology.
It’s true that there were once some questions regarding connectivity requirements and IoT security. But today new developments and tools, like Azure IoT Edge and Digital Twins, have eliminated many previous barriers and opened the benefits of IoT to everyone. While security and connectivity remain important considerations for IoT, implementing this business-boosting technology is easier than ever.
Whether you’re new to IoT implementation, find digital modeling overwhelming, have limited (or no) connectivity in your remote and legacy assets, or question IoT’s maturity, there is an IoT solution for you. You can leverage IoT to drive revenue, discover new business models, and optimize business processes in your organization – right now. Let’s look at what IoT can bring to your business and pick apart the four most common IoT misconceptions keeping companies from implementing and benefiting from its advantages.
Why should your organization implement IoT?
IoT and digitalization are all around us. Almost everywhere we look, our physical world is connected. Statista.com estimates that by the end of this year, on average, there will be 4 digital devices per human being – increasing to 9 per person in 2025. And by analyzing and learning from the telemetry and measurements collected through these devices, IoT helps to improve our everyday lives. For example, airport companies use critical data aggregated from various devices to leverage telemetry and improve passenger experience with services, such as automatic updates and improved baggage tracking.
But IoT isn’t just for the travel industry. Combining the physical and digital world can result in added value for companies and customers regardless of their sector. IoT provides deeper, more comprehensive, and actionable business knowledge to enhance productivity, improve customization, facilitate maintenance, and increase cost-efficiency.
Up until now, your business may have gotten along fine without IoT, but today, this once novel technology has evolved into a must-have tool for all businesses. In fact, many industries are looking at IoT in their rear-view mirror, already working on the next step – AI.
Now there’s no time to waste. Even if your organization doesn’t have current IoT objectives, the time has already come to get on board so that you’ll be prepared for the future. No matter what has prevented you from collecting data from your devices and assets, there are no longer any excuses for not embracing IoT as a core strategy.
Stay tuned for our next blog as we debunk one of the big myths surrounding IoT.
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