Internet of Things (IoT)

The Internet of Things, or IoT, refers to the vast network of devices that are connected to the internet and can collect and share data without human intervention. Picture everyday objects like watches, refrigerators, and cars equipped with sensors and software that allow them to gather information, communicate with each other, and even make certain decisions. In business intelligence and data analytics, IoT devices provide a gold mine of real-time data that businesses can analyze to improve efficiency, understand customer habits, and create better products.

For example, an IoT-enabled manufacturing machine can alert managers the moment it starts operating outside of normal parameters, preventing costly downtime. Retailers might use IoT to track inventory levels automatically, while smart thermostats in office buildings gather data to optimize energy use for cost savings. The data collected from these connected devices offers businesses a deeper understanding of how systems or consumer behaviors work in the real world.

IoT is revolutionizing the way businesses operate by providing unprecedented access to live, actionable data. With IoT analytics, companies can swiftly respond to immediate trends, predict maintenance issues before they happen, and personalize offerings to customer preferences, transforming the wealth of data into strategic business actions.