The Easy Guide to Understanding IoT

First, let’s define the Internet of Things. IoT is a network that allows people to stay connected in an increasingly digital world. It is an extension of the Internet in which everyday objects have network connectivity, allowing them to send and receive data.

It's Not Complicated, Believe Me

It sounds complicated, but most likely you are already participating in the Internet of Things. Have you ever opened up Sonos or another music app on your phone and had it play on a bluetooth speaker? That’s a function of IoT. But, what we don’t actually think about is that these two devices (phone and speaker) are talking to each other. The fact that our smartphones can connect and complete tasks, has huge implications for how we can automate certain actions.

At the center of these connected apps and devices are hubs like Zapier and IFTTT. They process and then automate data sent between apps. They work by using triggers (you opening up Sonos and pushing play), to then complete an action (your bluetooth speaker playing the song). Or as IFTTT defines it, “Connecting the apps and devices you love with “if this, then that” statements.” So to use another example: if it gets dark outside then, your wifi lightbulbs will get brighter. The IoT functionality in that example is the fact that you lightbulb is “connected” and via sensors can detect light changes.

The Facts

Wifi lightbulbs may seem trendy but IoT itself is not a new concept. But, the last 2-3 years alone have brought explosive growth of “connected things.” Gartner estimates there are now 6.4 billion connected items in use and the firm expects 20 billion connected devices by 2020. Other experts predict 50 billion IoT devices in that same timeframe. McKinsey & Company recently predicted the IoT will contribute between $3.9 trillion to $11 trillion in annual economic value by 2025, meaning companies need to get ahead of the game sooner rather than later.

Now Go Use Your Knowledge

As consumers, our phones act as gateways to IoT. Everything we want can be initiated via a swipe or tap on our phones: from unlocking doors, receiving coupons or getting news alerts. And because customers expect these innovations, marketers and developers should be actively thinking about how to take advantage of easy-to-use technologies such as card-based mobile web interfaces to create powerful IoT moments. It’s easy to get caught up in complicated definitions or examples of IoT but the truth of the matter is that it’s applicable in virtually every business sector. So get creative! Start brainstorming ways to integrate IoT into your business strategy to stay ahead of the game, and have fun with it. The Internet is your oyster.