IoT: A Business Perspective

Abstract

Businesses are created to meet the benefit not only of the owners but to provide needed goods and services that all people need. There exists a symbiotic relationship between the business and the customer in that both provide something the other needs or wants. The customer gets the goods and services needed while providing the business the means to continue operation. While some not-for-profit organizations exist, most businesses are established to make a profit. The Internet of Things (IoT) within business, generally referred to as machine-to-machine processing, started to evolve shortly after the Internet became a reality. The advantage of having machine-to-machine communication with little or no human intervention allowed faster and more accurate information processing. Robots allow for computer-controlled work processes that are either highly repetitive or potentially hazardous. For example, robots have been used very successfully in painting mass-produced products such as automobiles.