The Internet of Things – the 10 billion plus networked devices that include everything from connected cars to Internet-abled home appliances – could add tens of trillions of dollars to the US GDP over the next 10 years. This is according to a new report from Harvard Business Review Analytic Services and Verizon Enterprise Solutions called Internet of Things: Science Fiction or Business Fact? And cloud computing is at the heart of this continued interconnected evolution.
Why? Because much of the true value of the Internet of Things (IoT) for enterprises isn’t in the connections, it’s in the data. In fact, according to the HBR study 35 percent of enterprises that are early adopters of IoT say acquiring more information to support big data/analytics efforts is a key benefit. The ability to gather data from places and during various times that wasn’t possible before mobile device and wireless and wi-fi connection ubiquity gives enterprises more and richer data than ever before. And for enterprises to gather, store, process and share these large volumes of data quickly and cost-effectively, they are turning increasingly to cloud infrastructure to support applications like storage and big data analytics.
This all makes sense when you consider that the industries that are embracing IoT are the same that have invested in cloud-based technologies to improve customer service, business operations and effectively manage risk: healthcare, manufacturing, public sector, etc. Enterprises need a strong, cloud-based infrastructure if they are going to get the most value out of IoT initiatives.
For more information or to get a full copy of the HBR/Verizon Internet of Things report visit: http://www.verizonenterprise.com/resources/insights/hbr/internet-of-things/.
