Chamber Insider Blog

What Does “IoT” Have to Do With Me?

Blog post by Vanessa Wagner, Small Business & Entrepreneurship Manager, Loudoun County, Va Department of Economic Development

You’ve probably heard people mention something called “IoT,” which is short for the “internet of things.” What does it mean, and why should you care?

First, some background: IoT applications are often described with the word “smart” because the information collected and analyzed is helping businesses make smarter decisions. Most of us are familiar with terms such as “smart cities,” “smart cars” and “smart phones.” The application and impact for IoT can be more easily understood if you consider two broad categories: information/analysis and automation/control.

Information and Analysis 

Collecting data from connected devices and environments provides better information from which to make decisions. Common examples of how this is being used includes the push notifications you get on your smart device, and the targeted ads you see in your social media feed.

Automation and Control 

Advanced sensors and monitoring systems on equipment or machinery is used to connect devices that allow an organization to make decisions on that equipment or component of production. These types of monitors can help organizations, large and small, plan for maintenance, predict output, and more. In Loudoun County these types of sensors and applications are being used by our local farms to monitor soil conditions for irrigation or fertilization; this is often referred to as precision agriculture. 

As these technologies mature, the ways companies use them will increase. Large and small organizations can benefit from incorporating IoT into their business strategy. 

Learn from lead strategists at Google and Amazon how they are preparing their organizations and what it can mean for your business at the October 21 Tech Coalition event, “The Internet of Things: As More of the World Connects Online, Will Your Business Keep Up?”

At Loudoun Economic Development, your business is our business. We want to make sure Loudoun companies are successful, and if your company isn’t in Loudoun already, we’d like to discuss how moving here can contribute to your success. Start by calling us today 1-(800)-LOUDOUN

References

thingworx. (2016). Retrieved from Smart Agriculture: https://www.thingworx.com/ecosystem/markets/smart-connected-systems/smart-agriculture/

Unlocking the potential of the Internet of Things | McKinsey & Company. (2015, June). Retrieved from McKinsey & Company: http://www.mckinsey.com/business-functions/business-technology/our-insights/the-internet-of-things-the-value-of-digitizing-the-physical-world

 

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