The Internet of Things (IoT) is driving the fourth wheel of the industrial revolution and is here to stay! Needless to say, IoT-driven predictive analytics has been this era’s super technological disruption. According to a report by McKinsey, IoT’s economic impact will increase to $11 trillion a year by 2025. Besides, IoT devices are projected to increase to 20-40 billion devices by 2020.
However, business growth does not come easily through IoT adoption. There are many obstacles in this journey. Some of the primary challenges include multiple standards/protocols, data security/privacy issues, and regulatory demands.
So, how to efficiently collect, analyze, and convert data into actionable insights is the main question today.
IoT when merged with predictive analytics and AI will help you gain a competitive advantage in all your business operations amid today’s crisis.
Here’s how IoT-driven predictive analysis can empower your enterprises and spike growth.