The internet of things (IoT) is melding technology into manufacturing processes and seamlessly linking businesses to consumers. This integrated network connects sensors and devices through the internet and enables spontaneous junctures for sharing data and applications, often without human intervention.

Companies are taking note of the potential the IoT presents: 57% of global businesses have accessed IoT technology and adoption is expected at 85% of businesses by 2019.[1] Biotechnology, consulting and advertising are among the first adopters of the IoT for manufacturing, distribution, logistics, supply chain management and marketing applications.[2] Research firm IHS predicts the number of installed IoT devices will leap to 30.7 billion in 2020 and 75.4 billion in 2025.[3]

Many corporate leaders believe the IoT will significantly transform their businesses and drive results using sensor-based data sets for sophisticated analysis. Many companies are looking to capitalize on IoT technology to capture data for customer insights, faster analysis, contextual intelligence and improved operating efficiencies. Other companies are focusing on developing new data-as-a-service business models.[4]

IoT technology is being used for mobile device support, creating “smart workplaces” with increased connectivity and improved environmental and security controls. Location intelligence from sensors is being used to track important assets and enables communications between devices in close proximity.[5]

Businesses and consumers linked through the IoT generate vast amounts of data. At present, only a small fraction of the data collected is being analyzed and used. A company’s ability to manage big data analytics will be a critical factor in determining the success of its investments in IoT technology.

Advances in cloud architecture to handle big data, predictive analytics and machine learning will enable new IoT applications to provide precise customer insights, optimize operations and analyze contextual business information. The evolution of the IoT will shape product development and marketing, improve customer satisfaction and transform business processes.[6]

[1] “It’s all about the connection: How IoT drives profitability and growth,” by Aruba Networks/Hewlett Packard Enterprise, 2017, page 5. Report available for download at: http://www.arubanetworks.com/solutions/internet-of-things/

[2] 2016 Internet of Things (IOT), Big Data & Business Intelligence Update,” by Louis Columbus, Forbes, Oct. 2, 2016. Available at: https://www.forbes.com/sites/louiscolumbus/2016/10/02/2016-internet-of-things-iot-big-data-business-intelligence-update/#37ad4fc84923

[3] Cited in “Roundup Of Internet Of Things Forecasts And Market Estimates, 2016,” by Louis Columbus, Forbes, Nov. 27, 2016. Available at: https://www.forbes.com/sites/louiscolumbus/2016/11/27/roundup-of-internet-of-things-forecasts-and-market-estimates-2016/#5faf60fe292d

[4] “2016 Internet of Things (IOT), Big Data & Business Intelligence Update,” by Louis Columbus, Forbes, Oct. 2, 2016. Available at: https://www.forbes.com/sites/louiscolumbus/2016/10/02/2016-internet-of-things-iot-big-data-business-intelligence-update/#37ad4fc84923

[5] “It’s all about the connection: How IoT drives profitability and growth,” by Aruba Networks/Hewlett Packard Enterprise, 2017, pages 8-12. Report available for download at: http://www.arubanetworks.com/solutions/internet-of-things/

[6] “2016 Internet of Things (IOT), Big Data & Business Intelligence Update,” by Louis Columbus, Forbes, Oct. 2, 2016. Available at: https://www.forbes.com/sites/louiscolumbus/2016/10/02/2016-internet-of-things-iot-big-data-business-intelligence-update/#37ad4fc84923

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