IOT—THE MORE YOU KNOW

IoT Internet of Things

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If you’ve followed technology trends over the last decade, you’ve inevitably seen Internet of Things or IoT pop up on lists of important technologies. But just what is IoT and why is it important? At the most basic level, IoT is devices with internet connected sensors. These sensors allow people to combine the digital world with the physical world to leverage data and make better decisions and automations.

Let’s explore a little more about why this is important and what it allows us to do.

Why is IoT important?

IoT allows us to capture data on what billions of hardware devices are doing. As microcontrollers and sensors become smaller and more cost efficient, you can start to capture data from just about anything and incorporate it into your everyday life. Combining this with better network capabilities, organizations open possibilities in both smarter product offerings (ex. smart homes, remote access, etc) and more efficient business operations (ex. asset tracking, monitoring equipment, etc).

What does IoT allow us to do?

The possibilities are endless when it comes to what you can build. However, there are a few areas where IoT has really started to thrive.

Asset Tracking

  • By incorporating sensors onto equipment, companies now have constant insight to where assets are at any given moment. This has been great for not only tracking shipments, but also theft prevention. The Apple Airtag is a great example of this application.

Monitor Equipment

  • Being able to capture data on equipment allows us to monitor in ways that weren’t previously possible. A great example is in the preventative maintenance measures companies can take on service equipment prior to any major failures—saving money and downtime. By capturing this data and leveraging machine learning equipment users can be alerted to failing conditions before they happen.

Unlock Efficiency

  • IoT allows our homes and offices to operate more efficiently. Smart thermostats, such as Google’s Nest Thermostat, have enabled homes to make real-time decisions around energy consumption and how homes can better operate to lower your energy bill.

Automate Tasks

  • It’s not enough to just capture data, we also need to use it to make decisions. Automating tasks allows us to remove human input into the decision making process and free up time that otherwise would be spent on the task. Self-driving cars are a perfect example of this. While not fully autonomous yet—by utilizing sensors and machine learning, self-driving cars are able to perform a number of driving tasks, leading to safer experiences on the road.

With forecasts estimating billions of internet connected devices by 2025, the possibilities of what we can build are endless. If you have an idea for an IoT application or have questions, reach out at [email protected].

This article was written by Taylor Greiner, Business Development Manager at Shift.