IoT (Internet of Things) refers to a network consisting of Internet connected devices and machines producing data. The ability to analyse and visualise the data is in a key role in making better decisions, developing business and staying ahead of competition!
IoT is considered the fourth industrial revolution brought about by increased pace of change in business, rapidly evolving technologies and decreased price of computing technology. IoT contains a huge potential, which one can utilize to grow business. The key is to find the right solutions and make them work for you.
The difference between IoT and e.g. industrial automation is the role of data. While industrial automation focuses on monitoring separate devices, IoT allows monitoring groups of devices and analyse the data they produce. The data is typically stored in cloud where it’s analysed and visualized resulting in an ability to make better-informed decisions. With IoT you are able to gather data from new places enabling new business innovations.