Internet of Things (IoT) is the new buzz word for Internet connected devices that are able to communicate with each other. So how does this new trend affect your business?
IoT is not just for the techies or individuals, it will and probably has already affected most businesses. IoT is not specific to construction businesses, government contractors, employees, wealth and healthcare, etc.., it will affect most businesses large and small globally. Used correctly, you may be able to improve your employee wealth and healthcare costs.
The Internet of Things (IoT) is the network of physical objects or “things” embedded with electronics, software, sensors, and network connectivity, which enables these objects to collect and exchange data. The Internet of Things allows objects to be sensed and controlled remotely across existing network infrastructure, creating opportunities for more direct integration between the physical world and computer-based systems, and resulting in improved efficiency, accuracy and economic benefit; when IoT is augmented with sensors and actuators, the technology becomes an instance of the more general class of cyber-physical systems, which also encompasses technologies such as smart grids, smart homes, intelligent transportation and smart cities. Each thing is uniquely identifiable through its embedded computing system but is able to interoperate within the existing Internet infrastructure. Experts estimate that the IoT will consist of almost 50 billion objects by 2020.
Transportation/Government Contractors and Sub contractors should start taking looking into and implementing these new technologies to improve their current business systems. An example would be while you maybe tracking your trucks you can go the next step by tracking where the drivers stop to eat, maybe even what they eat, how many stops to they take, easily manage their fuel consumption all using their smart phones (this may be the hard part getting your drivers/employees to use smart phones). Then take it to the next level, by analyzing where they eat, stop for gas, rest stops, etc.. Now you can negotiate with the vendors to get corporate discounts for you and/or your drivers. Initiate healthy menus at the most frequently used food/restaurant stops which will help your wealth and healthcare costs!! Have the vendors offer discounts for healthy foods as an incentive for your drivers/employees. There are so many advantages to using the IoT technologies. It’s wide open and there are plenty of apps on the market. The key is to test and try them and find the right fit for your company and employees.