Earlier what was once called ‘Machine-to-Machine’ was merely an idea, next thing we know, Internet Of Things (IoT) took the world by storm as we entered the 20th century. IoT holds a meaning so vast for it to be termed a marketing gimmick than a technology. The methodology of this process evolves from receiving simple code instructions to more complex real-time computations. There is a misconception that IoT is an app to switch things on or juts a system of computer devices. Contrary to these misconceptions, IoT is a digital realm of every device including inanimate objects such as a toaster that is connected on a global computer network, ie, the internet. It is an environment which shall vanguard a world-vision of interconnected objects which can communicate and conduct automated tasks over the internet, and it has evolved in this manner over the last two decades.
1990: Considered the first event of an IoT device where John Romkey could turn on or off a toaster using the internet via TCP/IP networking.
1997: Social Media was absent, communication was only by telephone or email.
2000: The advent of search started, and it marked the baby steps for social media
2004: Marketing on social media was so easy that this brought the attention of investors to think and store data.
2009: Accelerated Growth of Cloud transaction laid the foundation of Big Data.
2017: By now brands and marketers are engaging with IoT, AI and Big Data to track the consumer and base their business decisions accordingly.
As we have started to understand the power data holds, our technological advancements and solutions have started leading to artificial intelligence backed by the mining and harnessing of this data. The power of data has been fully understood today, and solutions are being built keeping this in mind. While there are challenges, that as an industry, we need to overcome such as standarisation of hardware, installation of tracking data at the exact location and security format/protocol, the understanding of this power of data has unlocked a new age in building technological solutions. And finally instead of ignoring data points, we have all woken up to the need to harness, protect and value data more and more with IOT leading the charge. Maybe, it was never the technology that had the power, but the data, without which, the technology could be considered useless. This is an age where we have finally understood: the power of data.