It’s all about ( I-O-T)
It’s about (I-O-T) whilst many of us don’t know as well. I give the definition as I Own Technology and being a consultant my passion is to become a Technology Consultant/ Marketer for Customers, this abbreviation is given by me but the official and real meaning is “Internet of Things” (IOT).
Many businesses are raising questions about the Internet of Things, wondering if and when the hype will become a reality. The buzz is increasing significantly, and there are increased signs of vendor activity. Samsung recently announced its introducing numerous, long-term initiatives that dive deeper into the IoT space.
The Internet of Things (IoT) is a computing concept that describes a future where every day physical objects will be connected to the Internet and be able to identify themselves to other devices. The term is closely identified with RFID as the method of communication, although it also may include other sensor technologies, wireless technologies or QR codes.
OK, so it might not be breaking news, but while the Internet of Things (IoT) has been talked about for a while, it’s genuinely starting to hit a tipping point in relation to its impact in the retail industry.
Analyst IDC has forecast that the IoT will represent a $326-billion revenue opportunity to the retail sector by 2018, so it’s something every retailer should be taking a look at.
The Internet of Things, as I’m sure you know, refers to the connections that are being made not only between people and the Internet, but those that are formed between connected devices, machines and products: essentially anything that can contain a sensor and transmit information via the web. There’s an app for everything. Need a cab? Grab a taxi with Uber on your smart phone. Need a food order your food through food panda, Want to play some tunes in the kitchen? Bring up your Telenor Services. We tend to have become acquainted with interacting with things via our phones. Therefore I expect we’ll hear this from buyers from currently on: “What does one mean … this product doesn’t keep company with an app?.
It’s the concept that enable a fridge to know when you’re running low on milk and automatically order more from an online retailer. And for retailers to track inventory through its supply chain via smart tagging.
For businesses, the Internet of Business Things (IoBT) helps companies achieve enhanced process optimization and efficiencies by collecting and reporting on data collected from the business environment. More and more businesses are adding sensors to people, places, processes and products to gather and analyze information to make better decisions and increase transparency.Companies are currently using sensors in many innovative ways to improve business performance and enhance customer experience, including AT&T’s “Smart Luggage” and Apple’s iBeacon.
Now, it is thought that the technology is increasingly important to board-level executives, with a 2013 study by IBM finding that its strategic importance was poised to double from 34 per cent to 72 per cent. I think closing it out , i had learn the periodic table of chemistry but now sharing the periodic table of IOT.
My point is this… will people going to expect what they buy to be connected and experience great benefits .
But the IoT has moved far beyond ‘if’ to ‘when’. It’s time to get connected
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