What is the internet of things?

The internet of things (IoT) is the concept of connecting any device to the internet or other connected devices as long as it has an on and off switch. The IoT is a giant network of connected things and people all of which collect and share data about the way they are used and about the environment around them. 


How does internet of things work?

Devices and objects with built-in sensors are connected to an IoT platform, which integrates data from the different devices and applies analytics to share the most valuable information with applications built to address specific needs.

These powerful IoT platforms can pinpoint exactly what information is useful and what can safely be ignored. This information can be used to detect patterns, make recommendations, and detect possible problems before they occur.

For example, if you own a car manufacturing business, you might want to know which optional components (leather seats or alloy wheels, for example) are the most popular. Using Internet of Things technology, you can:

  • Use sensors to detect which areas in a showroom are the most popular, and where customers linger longest.
  • Drill down into the available sales data to identify which components are selling fastest.
  • Automatically align sales data with supply, so that popular items don’t go out of stock.

The information picked up by connected devices enables you to make smart decisions about which components to stock up on, based on real-time information, which helps you save time and money.

With the insight provided by advanced analytics comes the power to make processes more efficient. Smart objects and systems mean you can automate certain tasks, particularly when these are repetitive, mundane, time-consuming, or even dangerous.


Why is internet of things important?

Better Decision Making – Since devices have multiple sensors, they can acquire considerable data from numerous sources, giving them more information to work with when acting on data received. A great example is smartphones. The device automatically track your behaviours on its interface and makes suggestions based on your activity, location, and age.

The phone can also keep tabs on various activities. This includes the amount of screen time users spend each day, power consumption, and sleeping patterns. Massive amounts of data are being collected and sent back to smartphone companies each day to improve features on their devices.

With the constant influx of big data, companies begin to see trends in the usage of their devices and can immediately pinpoint their strengths and weaknesses. This insight would not be possible without the help of embedded sensors and processors which analyze the data.

Real-time Tracking and Monitoring – The potential for web-based tracking and monitoring systems is enormous. IoT tracking provides an efficient means to track and monitor anything from vehicle fleets, stolen goods, or shipping containers. Particular devices can even detect changes in the environment. There are multiple industries where IoT trackers can immensely improve the efficiency of companies. A malfunction in these products can lead to enormous losses for the company.

 IoT-based trackers need to be reliable to provide the best services. These devices should provide the following:

  • Real-time data analytics – Fast, accurate data is required in the industry to allow for quick, informed decision-making when assets or changes in the environment are being monitored.
  • Secure communication – Companies usually track and monitor high-value assets. It is essential that the shared data is protected and not under the threat of hackers.
  • Stable connectivity – The device should securely provide helpful information on asset locations, machine functionality, and temperatures. This is required at all times and from anywhere on the planet.

Automation – A big reason for the invention of IoT is convenience. Smart devices that automate daily tasks allow humans to do other activities. These devices ultimately lighten people’s workload. Smartphones allow us to connect with people from all over the world. We can schedule when to send messages and even use dictation to avoid typing ourselves.

Then there are smart fridges. Imagine having one that can detect when foods are about to expire and notify the owner to eat that food before it’s too late. Perhaps the smart fridge could even register that the milk is nearly finished and automatically order more. Another example is a self-driving car, connecting to the Internet to find the quickest route to a destination. This is the ultimate convenience for humans. The room for innovation within IoT is massive.

More Efficient Personal and Business Tasks – Web-based devices save people money and time. This includes planning work schedules, time tracking, effective communication, and setting reminders for daily tasks. Having IoT devices track and order things for you, turn lights off automatically when you leave the room, and manage tasks for which you don’t have time is the ultimate convenience!

More and more of these devices will become available for use over the coming years, with an estimated total number of IoT connections to reach 27 billion in 2024. It’s no secret that human productivity has gone up with the technological age. People are busier than ever before, thanks to IoT. It’s incredible to have the opportunity to do important things like spending time with family while an IoT device takes care of mundane activities.


What is an example of an internet of things device?

There are several top devices in the market. Smart Mobiles, smart refrigerators, smartwatches, smart fire alarms, smart door locks, smart bicycles, medical sensors, fitness trackers, smart security systems, etc., these are just a few examples of IoT products.


Where does internet of things go next?

It is estimated that by 2025 there will be more than 22 billion IoT devices. A quick look back shows where IoT devices are going. Consider: In 2016, there were more than 4.7 billion things connected to the internet, according to IoT Analytics. Fast-forward to 2022 the market is estimated to have increased to nearly 18 billion IoT devices.