Manufacturing Blog

Things to Know about the Internet of Things

Things to Know about the Internet of Things

11/28/2016

“We have reached a tipping point where cognitive computing, big data analytics, cloud computing, and the rapidly growing Internet of Things are transforming businesses around the globe.”
  • Deloitte 2016 Technology Industry Outlook
 
You already know that the smartphone in your pocket has a massive amount of computing power. With it, you may be controlling your home thermostat, your DVR, your Fitbit, maybe even your refrigerator or your car. These things are interconnected via the Internet. This is the Internet of Things (IoT).


The IoT often refers to the interconnectedness of simple sensors and smart devices

 “No longer are (sensors) limited to high capital equipment and factory infrastructure; they are literally everywhere, from the traffic signal helping to optimize traffic flow to the watch that is monitoring your vital signs,” according to Jason Mann of SAS. 
 
For businesses in general and manufacturers in particular, networking equipment to work in tandem, control variables, manage situations, and develop more efficient processes makes the IoT very attractive.
 
“The IoT intelligent systems enable rapid manufacturing of new products, dynamic response to product demands and real-time optimization of manufacturing production and supply chain networks, by networking machinery, sensors, and control systems together,” according to Wikipedia.
 
“The Internet of Things is the next stage of the information revolution,” said former British Chancellor George Osborne.
 
The opportunities to gather and analyze data are dizzying in their potential. Which leads to another challenge – data management. Upgrading electronic sensors, managing huge volumes of data, and protecting that data from breaches – all of these initiatives have tremendous potential to move your organization ahead of the competition. However, these initiatives are expensive.
 
For that reason, many forward-thinking organizations that are looking to leverage the massive untapped potential of the IoT demand top-notch computing power, as well as the absolute best in cyber security measures. And they are turning to equipment leasing as the solution.
 
Why? Buying your rapidly-depreciating technology equipment means that it is yours forever. Leasing your equipment means that you can exchange it on a regular cycle, ensuring that you are always up to date. As the old adage says: if it appreciates – buy it. If it depreciates – lease it.
 
And when it comes to the breakneck speed of the IoT, leasing is a smart way to stay ahead of the curve.

 
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