As pointed out in the infographic below, it is no longer a question of 'what' and 'why' but more 'when' and 'how' businesses will transition into and optimize the benefits of smart technology and connected communication.
The Internet of Things, or the IoT, is rapidly advancing in the consumer world, with more than 8 billion devices in use today, from refrigerators and garage doors to headphones and watches. Acting as “human sensors,” consumers who use smart devices can provide real-time “observed” data to businesses. This data can be analyzed to understand usage and behavior, priceless insights that can be applied to future products to better meet consumer needs—and no one had to take a survey.
With an estimated 40-80 billion connected devices being used by 2020, most businesses are embracing the rise of IoT and shifting focus to maximize the benefits of smart technology. As noted below, "The Internet of Things transforms businesses into proactive, autonomic organizations that predict and fix potentially disruptive issues, evolve operations, delight users & customers while increasing the bottom line.”
Ninety-five percent of C-level executives expect to be using the IoT within the next three years, while 63 percent believe not transitioning with the tech trend will ultimately be detrimental to business.
Is your business ready?