Extracting Value from the Internet of Things

Fifteen billion and counting. For once, the hype around an emerging technology looks to be justified: the Internet of Things (IoT) already encompasses a staggering number of devices and today’s total of 15 billion worldwide is expected to reach 50 billion by 2020.

Moreover, despite some technical jargon, the IoT is a simple concept. It is simply a network of devices containing technology that enables each of them to send and receive information via the internet. That might be anything from your exercise-monitoring watch to the components of a factory floor assembly line. The power of the IoT lies in the data it generates, which provides constant feedback about how devices and equipment are performing, where they are, and how their owners are using them.

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