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DEBUNKING THE COMMON MISCONCEPTIONS ABOUT IOT

Debunking the common Misconceptions about Internet of

Things

The number of devices connected to the internet are increasing every day and

are bringing fascinating changes in the entire industry. These changes generate

a lot of curiosity among the leaders and come with various misconceptions. With

one negative incident involving the IoT, businesses jump to conclusions which

prevent them from deriving the benefits of IoT as a whole.

In this article we have debunked some of the common misconceptions about

Internet of Things:

IoT is a new Technology: Many business leaders believe that IoT is a new

technology and doesn’t guarantee success. While the term “Internet of Things”

is relatively new, the underlying technology and business model has been

generating tremendous value for more than a decade for businesses worldwide.

A study by Boston Consulting Group revealed that small businesses that use IoT

increase their revenue 15% faster than those who don’t.

It is just another Machine to Machine (M2M): With data moving between

multiple connected devices, IoT seems to have similar functionalities as of M2M.

However, in reality, IoT covers a lot more than that and can be called an

extension of M2M. More than one host on the Internet could act as a central

control system in IoT which allows remote monitoring and control of various

other devices like smartphones which would have an application communicating

with the common host.

Only big companies with high budgets can leverage IoT: According to a survey,

nearly half of all small businesses believe IoT is expensive. They believe that only

large corporations with higher budgets can implement and maintain a

connected infrastructure. Whereas, in reality, smaller companies are more

flexible and can better leverage the IoT-driven opportunities.

IoT is only for operational use: IoT is not only for use in background operations

and has more to do with savings and improving efficiency of the organization. It

allows accurate collection and reliable view of data with the help of multiple

sensors on connected devices. With cheaper sensors and ways of accessing the

information from these sensors, a company can increase its efficiency, improve

products and discover new business models.

CONCLUSION: Do not let these misconceptions distract you from reality. The IoT

is a feasible development that will take over the entire world. Those who

prepare for it today will be the first ones to bring a new revolution tomorrow.