The Internet has already brought hundreds of millions of people together and created connections that were never before possible — but this is just the beginning. The Internet of Things (IoT) is coming, and life as we know it will be transformed.

IoT will connect practically every object to the Internet, like Coffee Maker, Burglar System, Car Garage Doors, even monitoring pets. These will collect data send it to the cloud. In other words, everything will be “smart.”

The implications of IoT are huge: The entire planet will become a unified, brain-like system. It sounds like a far-off, futuristic concept, but IoT is imminent, and entrepreneurs should be excited. Here’s why:

 

1. Everything will be measured and Tracked.

IoT means that everything from Home appliances, to construction equipment, to vehicles and buildings will transmit data and communicate with other objects or people. That means it is possible for everything to be measured and tracked at all times. Using Cloud-based apps and tools we can analyze, Monitor and Control everything. It is used to take better decisions and improvise outcomes.

Big data has already made waves in nearly every industry. Imagine every device collecting a huge amount of data for smart analysis.

 

2. Real-Time usage of Metrics.

IoT creates a massive amount of data that can be analyzed and used to take better decisions. For instance, imagine Google maps that collect data and analyze it in real-time to provide live traffic Updates.

With IoT, information is turned into action at an unprecedented speed. Not only will technology respond to data but will predict problems and take actions too. Constant monitoring can detect major issues and prevent them before it happens.
3. Actionable data will be shared.

All the data that IoT delivers will be shared among co-workers, stakeholders and other parties. For example, think how Google maps allow individuals to collect traffic data and share it with other users for providing an alternate route to avoid Congestion in traffic.
4. Industries will become interconnected.

The more communication among machines — the more connected they are — the more connected everyone will be to each other. Data won’t be siloed into one particular industry. It will be used across businesses and industries, fueling innovation.

For example, data from smart cars can help improve traffic, which can help to develop and improve smart cities, which can make energy use more efficient, and so on. The possibilities will be endless when machines, industries and people can connect and inspire improvements.