Over the past decade, Devices with in-built sensors are connected to an intelligent IoT platform, which coalesces data from different devices and applies analytics to share vital insights. Powerful IoT platforms can easily identify what information is useful and what can be ignored. The aforementioned insights can be used to detect trends and patterns, make recommendations, assess potential risks, make smarter decisions, etc.
Successful companies across the globe have already started leveraging IoT-based solutions for the numerous benefits associated with it.