So you’re thinking about starting an IoT project. The question is, what do you build? How do you build it? Or, what is an IoT project? Let’s start with that last question, shall we:
What is an IoT Project?
An IoT project is the act of connecting any physical object to the Internet to collect and share data. How we use and share that data depends on the purpose of the IoT project. Whether you’re connecting windmills to monitor performance data, or connecting machinery to monitor itself for breakage, the data generated from these projects can be used in a variety of ways. With the right hardware, software, connectivity, and know how, you can connect any object in the home, factory, or farm and stream data to the Internet.
The Challenges of IoT Projects
The Internet of Things industry gives businesses from every sector the opportunity to optimize their operations, develop new revenue streams, and enhance customer relations.
According to a Gartner study, 60% of adopters predict IoT technology will transform their organizations, cut down on expenses, and generate substantial amounts of new revenue within the next five years. 40% of those adopters expect to see a meaningful payoff in just three years. However, companies....
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