Currently, internet is all about a human-to-human interaction. We human use the internet for various purposes. But the future has the possibilities where a range of devices will be internet-enabled and they will make the interaction without interruption of any human being. 2014 is promising to arrive with Internet of Things, or IoT.
As a general study, as many as 74 percent of C-Level executives have heard of IoT and are prepared to used this advanced technology for betterment of their businesses. The same enthusiasm was anticipated in 2013 but this year brings up countless new opportunities and hopes.
Despite of the fact most of the businesses out there are in favor of IoT, there are some businesses that ignore this methodology. The reason is simple; IoT is as much about transforming existing products and services unlocking additional revenue streams as it is about creating entirely new ones.
But clearly speaking, IoT is not all about starting from scratch and developing entirely new products, but it will happen at partially. Rather, it is more about adding values to the existing products, eventually delighting customers and driving new revenue in the process.
Eventually, Internet of Things will surely cause businesses to alter the relationship they have with their customers, by transitioning from selling products to customers to selling services to users.