What is Internet of Thing (IOT)?

The internet of things, or IoT, is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers (UIDs) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.

By means of low-cost computing, the cloud, big data, analytics, and mobile technologies, physical things can share and collect data with minimal human intervention. In this hyperconnected world, digital systems can record, monitor, and adjust each interaction between connected things. The physical world meets the digital world—and they cooperate.

How IoT works

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.

Benefits of IoT

The internet of things offers a number of benefits to organizations, enabling them to:
1.)monitor their overall business processes;
2.)improve the customer experience;
3.)save time and money;
4.)enhance employee productivity;
5.)integrate and adapt business models;
6.)make better business decisions; and
generate more revenue.
7.)IoT encourages companies to rethink the ways they approach their businesses, industries and markets and gives them the tools to improve their business strategies.