The Internet of Things, or IoT, refers to the billions of physical devices around the world that are now connected to the internet, collecting and sharing data. 

An IoT ecosystem consists of web-enabled smart devices that use embedded processors, sensors and communication hardware to collect, send and act on data they acquire from their environments. IoT devices share the sensor data they collect by connecting to an IoT gateway or other edge device where data is either sent to the cloud to be analyzed or analyzed locally. Sometimes, these devices communicate with other related devices and act on the information they get from one another. The devices do most of the work without human intervention, although people can interact with the devices — for instance, to set them up, give them instructions or access the data.

The internet of things offers a number of benefits to organizations, enabling them to:

  • monitor their overall business processes;
  • improve the customer experience;
  • save time and money;
  • enhance employee productivity;
  • integrate and adapt business models;
  • make better business decisions; and
  • generate more revenue.

IoT encourages companies to rethink the ways they approach their businesses, industries and markets and gives them the tools to improve their business strategies.

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