The Power of IoT: Insights and Strategies for Manufacturing Companies
Are you curious about what the Internet of Things (IoT) is and how it works in practice? As a consultant with expertise in this field, I’ll explain everything you need to know. In this article, we’ll explore what IoT is, how it works in practice, and how businesses can leverage its power.
Let’s start with the basics:
IoT is the connection of devices and everyday objects through the internet, enabling them to share data (according to Oxford Learner’s Dictionaries). Thanks to advancements in wireless networks and affordable computer chips, it’s becoming increasingly easy to connect everything through IoT. By linking various objects and attaching sensors to them, a level of digital intelligence is added to devices that would otherwise be ‘dumb.’ Real-time data communication is made possible through IoT, making the world around us smarter and more responsive by bridging the gap between the digital and physical worlds
Curious to know how IoT works in practice?
Virtually any physical object can be transformed into an IoT device as long as it can connect to the internet to be controlled or to communicate information.
Consider a simple example of an IoT device such as a light bulb that can be switched on or off using a smartphone app. Other examples include motion sensors, smart thermostats, remotely controlled machines, and self-driving cars. From children’s toys that can be operated via a smartphone app to industrial machinery, IoT has a wide range of applications.
How can businesses leverage IoT technology?
While there’s a lot of buzz around IoT, it’s important to understand how it can be applied in practice and what benefits it offers. The advantages of IoT for businesses depend on the specific implementation, with adaptability and efficiency being key factors. IoT can help companies access data about their products and internal systems, enabling them to respond more quickly to emerging trends or issues. Here are some examples of how IoT can be applied in a business context.
Digital offline shopping
IoT applications in different sectors offer several benefits, ranging from increased efficiency to predictive maintenance. For instance, Amazon’s “Amazon GO” concept store uses IoT technology to detect the products customers take from the shelves and register them in their virtual shopping carts.
In agriculture, IoT tools help farmers monitor crop and livestock health by measuring factors such as soil moisture, temperature, and humidity.
By using predictive maintenance, manufacturers can add sensors to products to track their performance and anticipate when a component is likely to fail, thereby preventing equipment damage
Industrial Internet of Things (IIoT)
Moreover, Industrial IoT (IIoT) has revolutionized manufacturing processes and energy management, enabling companies to optimize production, reduce costs, and improve safety. According to market researchers such as Gartner and Cisco, the industry is set to benefit the most from IoT technology.
Is my organization ready for IoT?
Read more at our Industry 4.0 blog
What is IoT?What is the Internet of Things (IoT)? The Internet of Things (IoT) is a technological concept that involves connecting everyday objects and devices via the internet, enabling them to communicate and share data with each other. In IoT, physical objects such...