Everybody has heard of the Internet of Things (IoT) by now and if you haven’t, it’s time to catch up. Basically, the IoT is the idea that all the technology we use every day will eventually be connected to the internet for easy control and access. It’s not just futuristic anymore; it’s here – even in Highland Park – in ways that have crossed over from leisure and sport and into business.

Here’s how IoT could affect your company.

Boosts efficiency

The ability to connect more devices to the internet can allow your business to develop more efficient and effective practices and it’s not just for large businesses. Many SMBs are looking to upgrade their systems and equipment to include smart machines.

Greater efficiency can be found on the shop floor, with point-of-sale scanners that can be directly linked to warehouse systems for faster stock replacement. For manufacturers, robots on the factory floor can be linked to production and maintenance to directly report on how much of your product is being made, and if there are any issues with the robot’s functioning.

More data

The IoT will be a data machine meaning that companies will have to upgrade how they collect and analyze information. Previously, online surveys and sales would give a company an idea of the direction trends were taking, but now that information will be available directly from the shop floor. This will cut down on time and money for advertising and product deployment.

This can have an effect on everything from data analyst roles to customer service. More data will be available than ever before, so your Highland Park business will need to evolve a new strategy for analysis to stay competitive and offer innovative products and service.

Cheaper, greener manufacturing

IoT and device connectivity will mean the adoption of smart grid technologies which include meters, sensors and other digital tools to control the flow of energy on your premises and integrate alternative sources of power.

This means that when rooms aren’t being used, lights and heat or air conditioning can automatically be turned off, cutting down cost of your energy bills and waste significantly. The switch to renewable energies can improve your energy efficiency and reduce emissions. Basically, it’s a win-win.

Cybersecurity and privacy issues

The biggest disadvantage to all of this however, is the greater risk of threats to your cybersecurity. The more data that your business has, the greater the likelihood of cyber-attacks. Connected devices are more vulnerable to hacking because many of them use the Linux operating system, which isn’t patched in the same way as licensed services like Windows.  When implementing IoT, businesses need to upgrade their security and keep it updated with fully licensed products and measures such as two point authentication to ensure all sensitive data is fully protected.