Data is being generated in almost every facet of our lives. Smartwatches keep track of every step we take and detect every heartbeat. Our smartphones know where we are at any given time, our hobbies, where we're going on vacation, and what we're thinking about buying.
Some of these insights are beneficial to the client, while others are beneficial to the product maker. Finally, we are all entering an Internet of Things (IoT) world that, for the most part, benefits everyone by assisting our daily lives and keeping us connected to the things and people that matter to us.
The application of such technology in the workplace is no different. IoT devices collect and transmit data in order to monitor critical operations, provide new insights, increase efficiency, and enable businesses to make better decisions.
They inform organizations what is really going on, not what they think or hope is going on. And the mountains of data they collect are gold for analytics and AI systems, which can spot previously undetected patterns of use or behavior.
By 2021, the Internet of Things industry – which comprises hardware, software, systems integration, data, and telecoms services – is estimated to reach $520 billion. To know more information in detail, contact UbiBot.