We have all heard about it by now. Everyone talks about it. The Internet of Things (IoT) is heralded as the next big thing. At its core, the internet of things is a global network of computers, sensors, and actuators connected through Internet protocols. Its promise is to make our world all the more connected and make all appliances, homes, cars, streets, bridges and cities and everything else- smart. Imagine if lights in your home would change dim according to your mood, without you having to push a button. What if your refrigerator informed that you are running out of food? What if your car chose the safest and less congested routes to take you to your destination? Or further imagine a scenario in which disasters are prevented, criminals are deterred before doing any harm, and the whole world becomes a better place to live in. It might sound like an excerpt from a sci-fi novel, but the Internet of Things is real and here to stay.
IoT often gets a bad rap in the media. Some say that the internet of things is nothing else but a buzzword. People are usually fearful of new technologies. Eventually, everyone realizes that technology is just an extension of ourselves. In the same vein, the Internet of Things is a global effort to improve our lives. IoT faces major engineering and designing challenges, but that certainly won’t back us down. As the American politician, Frank A. Clark put it “If you find a path with no obstacles, it probably doesn’t lead anywhere.” Huge challenges translate to big business opportunities. The Internet of Things market is poised to reach a fabulous $1.7 trillion by 2020.
According to Cisco, there will be roughly 50 billion connected devices by the end of the decade.
Needless to say, it will have a huge impact on the economy. On the other hand, IoT is susceptible to hacking. Much like the perennial war between code makers and code breakers, there will always be people hell-bent on revealing vulnerabilities in the Internet of Things vast network. Building a flawless IoT is a mammoth task. Sensor-to-sensor and machine-to-machine communication are the pillars of the internet of things. Transmitting data back and forth is not much of a help unless you gather and leverage it. Just like alchemists toiling to convert base metals into gold, industry experts are working around the clock to turn data generated from billions of devices connected to the internet, into big profits. This is all fine and dandy. The thing is, how will IoT impact your software automation flow?
For starters, gathering, analyzing and extracting valuable of insight from data will be a lot easier. CRM software is decimating traditional marketing strategies, but with the help of the Internet of Things, your automation software platform will gain even more momentum. Thanks to wirelessly connected devices, you will have real-time data at your fingertips. Even if users aren’t surfing the web, you still can gain tremendous insight into hidden patterns, buying behavior and even future preferences – all thanks to sensor-to-machine and machine-to-machine communication.
Lead nurturing, such a fundamental element in marketing, will become even more sophisticated. As of now, users usually scour the web for the best deals. In the near future, you will gain insight into user’s preferences and buying behavior even when they are not ‘online’. Say you own an auto insurance company, for example. Most cars will be equipped with sensors, cameras, and many other devices necessary for measuring various indicators.
Data generated by driving alone will tell you a lot about drivers’ personality.
For example, reckless drivers tend to disregard traffic rules. In that case, you can charge a higher insurance policy price since careless drivers are more likely to cause accidents. Make no mistake – the Internet of Things will impact every industry.
It doesn’t take much of a futurist to see what’s coming. Vast amounts of data generated from connected devices will be a treasure trove for startups, medium-sized companies, and large businesses as well. Automation software will be further enhanced by the ever-evolving Internet of Things. Granted, it will take time before IoT becomes fully implemented. But we are on the right track. Embracing the internet of things is the smartest choice one make. After all, you have nothing to lose and everything to gain.