Internet is one of the most promising things that can actually help an industry to gain popularity and productivity. It helps in establishing a direct supply chain between customer and supplier. Small business owners who acquired an expertise over web must have realized the process through which they can implement traditional methods at minimum cost. With the development in internet technology, there are many more things that came into existence such as Software As A Service (SAAS), IT infrastructure hosting, a host of new applications and mobile connectivity. These all platforms helped a lot in transforming business information systems.
Above all such features of internet, there exists Internet of Things which is one of the exciting innovations in the technology world. It has defined the entire IT systems into the new realms. As an example, consider a refrigerator that can be operated remotely without any physical connection. All that is required is the wireless connection between the refrigerator and its controlling equipment. This technology might not be in existence, but this can come into a reality due to IoT technology.
With the advancement in the technology, Internet of Things has made it possible for the users to enter the world of huge data. The access to huge data can help the businesses and industry at a high rate as they can easily track relationships, customer behavior and interactions from time to time. Such data also needs the large data storage and knowledge management tools to analyze the revealing pattern, trends and demands among the customer. Ultimately, the business owner can acquire the insight to support sales, marketing and business decisions.
Now, let us talk about early days, when the transactions were performed using the internet. At that time also, systems were into existence that were used to capture the details of entire transaction and sometimes the details of customer. The storage capacity and the network connectivity were considered as the parameters using which efficiency was measured. But, now the concept has been entirely changed. The ‘huge data’ has been transformed into two new ways. The first way is about collecting the data of individuals using social media and online presence of mobile users. Another way is the type of data that is now available in the alphanumeric form as it consumes low bandwidth.
Some other factors that are being associated with IoT technology are computing power, network bandwidth, storage capacity and data analysis. These all plays a vital role for every organization as they can help them to beat challenges in the marketplace. However, a few major challenges that each company face are security risk, cost and complexity while adopting the new technology. So, in order to acquire a control over information system completely and effectively, it is important to realize the pros and cons of technologies offered by IT companies.
It can be concluded that an organization always need to get adaptive with the market and It amendments. The latest technology must be adopted, but it is equally important to understand all the outcomes, no matter they are good or bad.