Some of the world’s biggest companies, including GE and Siemens, are investing money in the range of billions. This money is used to purchase equipment for communication, data storage, sensors, and other technology integrated as the Internet Of Things, or IoT for short. These companies have discovered the power behind IoT and how it can help them be more efficient in manufacturing, performance, productivity, and communicating within their business.
IoT is the cornerstone for discovering the analytics behind how a business operates and lets managers discover how to more effectively operate. Siemens is the manufacturer of many Amtrak locomotives that are utilized in North America. By installing sensors and communication devices within their locomotives, Siemens is able to use the IoT to gather crucial information about locomotive performance. This has allowed Siemens to anticipate problems and correct them before they inconvenience customers.
Siemens is just one of many examples of how using the IoT can drastically help a business become more productive and improve their overall performance. It’s no surprise that these big companies are willing to invest billions in the IoT as the rewards allow them to stay on top of their competitors. The IoT digital revolution is here to stay and you should expect to see many other companies investing money in this technology.
While businesses will receive new insights when they collect and analyze this new data, they will still need specialized human knowledge to stay on top of their industry. The IoT is extremely effective at collecting data, however, it takes a human mind to read the data and make decisions about the future of a company. The IoT is a great advantage to thriving businesses, but the human component is one that will never lose importance.