How is the Internet of Things (IoT) Transforming Operations?
The Internet of Things (IoT) connects devices over the internet, allowing them to communicate and share data. In business, IoT enhances operational efficiency by providing real-time data and insights. For instance, in manufacturing, IoT sensors can monitor equipment performance and predict maintenance needs, reducing downtime and costs. In retail, IoT helps in inventory management by providing real-time stock levels and automating reordering processes.