In a TechRepublic video, Navigant Research discusses how businesses are using data to their benefit
Innovative companies today are looking to the Internet of Things (IoT) to leverage data and glean insights that can help their businesses save money, operate more efficiently, and perhaps even create new revenue streams.
In a video for TechRepublic, Neil Strother, principal research analyst at Navigant Research, says ongoing trends in IoT show more companies moving to digital solutions that connect products and processes to produce a variety of benefits.
In the utility space, for example, companies are deploying smart meters to take advantage of automated operations and inform their internal processes to help break out of silos.
“I think in that case you’ll see more automation, more innovation if you will, and potentially new services that they couldn’t do in the past,” Strother said.
And in buildings, IoT technologies such as connected lighting can increase building efficiency by optimizing lighting based on time of day and occupancy, while contributing to other building systems such as heating and air conditioning.