How is the Internet of Things (IoT) Impacting Businesses?
The Internet of Things (IoT) refers to the network of interconnected devices that communicate with each other. In a business context, IoT can lead to significant improvements in operational efficiency and customer satisfaction. For example, smart sensors can monitor equipment in real-time, predicting maintenance needs before failures occur. Retailers use IoT to manage inventory more effectively, while manufacturers leverage it for optimizing production processes.