No matter which market forecast you read, the commonly held view is that nearly every product and service will be connected over the next decade. And these connections wouldn’t be of much value unless there is software in place to determine what data points should be captured and what actions should be taken in response to the information being collected.
As I’ve stated in a previous Datamation commentary, there are three primary reasons to pursue an IoT initiative – to react faster when a problem arises, to better predict potential problems before they occur, and to identify new market opportunities. In essence, these can be translated into the ability to improve the quality of products and services, increase the efficiency of business operations, and gain a competitive advantage.