At a business level, the Internet of Things plays the role of an ultra-intelligent analyst. It provides data insights for better decisions, and finds gaps in operations and processes, and business policies. It also creates an unprecedented connection between the factory floor and the business. All this means increased productivity, even while cutting down on costs and energy expenditure. The result of all this is undoubtedly an improved company bottom line.
The Internet of Things enables the automation of everyday things that tend to suck up manpower and resources. Automatically switching settings based on immediate environment or usage is one example. This frees up a lot of resources for the organization to focus on innovation and the company’s broader vision.
The various types of IoT that are currently in the market are:
1. Industrial IoT
Industrial IoT, or IIoT, is the internet of things in an industrial setting. It mainly applies to machine-to-machine communication with little user interaction. Industrial IoT is often used to improve logistics and supply chain management. The Industrial Internet of Things is often referred to as the fourth wave of the industrial revolution, or Industry 4.0.
2. Commercial IoT
Commercial Internet of Things can further be split into consumer IoT and enterprise IoT. These are IoT solutions consumed by everyday users or enterprises to efficiently run their businesses.
Smart homes and fitness bands are examples of consumer IoT. They typically require some sort of user input.
Enterprise IoT encapsulates business-ready SaaS IoT solutions that businesses across industries can incorporate into their infrastructure. An example is using Bluetooth low energy (BLE) beacons to improve shopping experiences on a retail floor. The healthcare industry has significant prospects with the Internet of Things, with solutions extending from managing chronic illnesses to inventory management in pharmaceuticals.
3. Infrastructure IoT
Smart buildings aim to use the Internet of Things to reduce energy consumption, maintain costs, and utilize spaces more efficiently. Corporations and educational institutes with sprawling campuses benefit the most from infrastructure IoT.
Urban planning committees worldwide are dabbling with the concept of smart cities. Sensors are installed across cities at traffic signals and lamp posts to provide a constant data feed. This data also includes air quality levels and radiation levels. IoT can be leveraged here for traffic management, predicting and detecting maintenance problems, and crowd control.
4. Defense IoT
Defense Internet of Things, as the name suggests, leverages the military use cases of IoT. These include surveillance robots and wearable combat gear.
The Internet of Things is all-pervasive. The role of IoT will only increase, making it an undeniable part of every business and even human decision.
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