IoT Connected Devices Change Everything
IoT connected devices represent the most important technological wave since the Internet, smartphones, and social media. The value proposition for the Internet of Things (IoT) is compelling because of the economic and financial value created for the built environment. The reason IoT is so important is because it builds and leverages upon the confluence and scale of an array of advanced technologies that continue to push the price-performance horizon including cloud computing, Internet connected mobile phones, semiconductors, distributed computing, machine learning and analytics. Inherent in IoT is that secure context aware connected devices drive improvements in efficiency, productivity, yield, and profitability by reducing costs.
IoT and business intelligence (BI) systems can provide a substantial enhancement to monitoring traditional key performance indicators (KPIs) such as marketing, sales, financial, operational metrics by adding new dimensions of analysis including assets, equipment, environmental conditions, health, safety, and energy. The balanced-scorecard approach to BI provides a more comprehensive understanding of business performance. IoT enables a facet of new metrics and automates the metric recording and analytics process right to your cell phone.