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'Internet of Things' is one of those buzz phrases that has gained a lot of traction in the last few years. Often shortened to IoT, it has been much talked-about in both domestic and enterprise spheres. However, it is also a seemingly vague term that observers have interpreted as meaning everything from fridges and thermostats that can be controlled via your smartphone, to the complete Internet takeover of pretty much everything in our lives.

Although IoT could be perhaps most simply characterised as being about - in the words of Techworld - "connecting Internet-enabled devices that relay information back to us, to cloud-based applications and to each other (device to device)", IoT doesn't really have a basic definition. What it most definitely isn't just about, is a smart fridge that reminds you when you need to buy milk.

An almost unimaginable variety of applications

Such is the breadth of possibility that the emergent Internet of Things era represents, that we can perhaps best sum it up by stating that it will make certain things possible that were once the preserve of science fiction. Smart devices are already being used in hospitals, for instance, to keep tabs on the condition of patients and correlate all data, not merely readings by nurses.

Similarly, factories and warehouses have begun to embrace IoT's efficiency-boosting capabilities by embedding location sensors in components during their journey through inventory systems and assembly lines, with the whereabouts of workers, forklifts and pallets also being tracked.

There are also benefits for retailers, who may use IoT technology to monitor the number of people entering stores in London or Paris from a United States headquarters, or acquire information about a customer's in-store location via a beacon, pushing customised notifications to them accordingly. It's fair to say that so many industries will never be the same again once IoT truly takes hold.

Start preparing for the new IoT era today

One implication that will definitely arise for your business as a result of IoT's increasing prominence is an even greater urgency to invest in a suitable cloud computing plan.

'The cloud' is a term that has attracted barely any less chatter in technology circles in recent years than the Internet of Things, and you won't be able to provide the complete visibility and connectivity that customers, clients and employees alike will soon demand if you don't work with an organisation like RedPixie to oversee your business's migration to the cloud.

We are entering the age of the total Internet takeover, so it is vital that your organisation replaces any outdated machinery, technology and equipment right now to avoid being left too far behind its rivals. By investing in new technology, you will be ready to immediately integrate it with the latest IoT-specific gear that becomes available.

A broad range of benefits for forward-thinking organisations

The advantages to businesses of making the most of IoT are set to be substantial, including much-improved capacity management, more scalable and robust data security solutions and the opportunity to market themselves as progressive organisations at the cutting edge of technological change.

IoT should certainly play a big role in maintaining the swift response times and quality of service that those both within and outside your company have come to expect, such as through the use of embedded warehouse or other industrial applications that quickly process location information and direct workers to pick up and deliver materials.

Data security is a major issue

There are some risks associated with IoT, not least related to security, with Purvi Parekh, partner at the technology-oriented law firm Olswang, describing it "one of the big issues [of IoT]... from a legal perspective", adding that "Once you have so many connected devices... hacking is a bigger risk. It is pretty much a sport amongst many researchers right now, how many devices can I hack into and what information do I get from doing so."

Certainly, with IoT applications storing extensive current and historical data related to such aspects of an individual as their location, health and finances, together with information on an organisation's business orders and inventory, much needs to be done to guard against tampering and theft.

The security risks inherent in the transmission of data over the Internet and even when secured private networks and VPN tunnels are used, makes it all the more invaluable that IoT enables proper security measures, such as multi-factor authentication, to be much more easily implemented.

Don't keep your business in its comfort zone!

It is understandable that your business may be a little reluctant to venture away from technology has served it well for years, in favour of IoT systems that are still in their relative formative years. You may be mindful of the need to educate your existing employees on the implications of IoT, particularly given its potential to eventually automate some or all of their present duties. 

However, many of the worries that your staff may have about the Internet of Things are likely to be poorly founded. For example, while some employees may find that an IoT application effectively takes over their old role, a similar transition has been happening in the workplace since long before the 'Internet of Things' phrase was popularised, and in any case, there will be an increased need for personnel who are skilled and knowledgeable about IoT and security.

The profound effects of IoT on almost every sector are already being felt right now. In manufacturing plants, the technology is exerting its influence on the reduction of expenditure, at the same time as helping to improve risk management and asset use and optimisation. IoT has even been described as being at the forefront of a "second industrial revolution".

Embrace the new super-connected workplace

Whatever your business does in response to the rise of the Internet of Things, it certainly shouldn't do nothing. In the emerging era of workplace hyperconnectedness, IoT technology will be instrumental in improving your business intelligence, boosting productivity, generating new revenue streams and giving your customers better experiences.

Information and data have long been among your business's greatest assets, which will only be even more the case in the years to come - so start planning now for the super-connected, IoT-powered workplace of the later 2010s and 2020s.