There are a variety of new buzzwords in the business world, including “Cloud” and the “Internet of Things.” What do they mean, and how will they affect distribution and construction industries?Wired.com recently wrote an article suggesting that these new ideas will change the world as we know it.
Cloud computing is the ability to access and use data remotely rather than requiring local storage space. The Internet of Things (IoT) takes this concept a step further by adding sensors to everyday items to capture information about them and then transmit that data to the cloud. That information is used to identify trends and patterns.
Some of the most useful data could be used to identify predictive indicators. The Wired.com article references a large bridge collapse that killed many people. If the bridge had been equipped with sensors, it could not only identify and transmit information about structural issues with the bridge before the collapse, but also warn drivers of things like ice or potholes.
This technology has endless applications. It can easily be used to better track warehouse picks, inventory and deliveries. Even further, information can be gathered about faulty equipment before accidents happen or damaged product before it is shipped.
Business decisions can continually improve with every piece of data collected about products, deliveries, future customer needs and business processes. The Internet of Things creates an immediate feedback system about every aspect of every process within a business.
The Cloud and Internet of Things are just a couple of examples of how powerful data can be and how it can be leveraged. At Industrial Market Information, we provide data to companies to help them make informed decisions.
