The Internet of Things (IoT) links objects within an active network to facilitate data management and collection. Using communication protocols to create a global network, the IoT leverages sensors, mobile devices, and Internet connectivity to boost interactions and obtain data points between physical and nonphysical objects.
However, IoT data is not limited to computers, laptops, and smartphones. It can be applied to any device that interacts with the external environment through embedded technology and the Internet. Sustainable, safe, and efficient telecommunication services benefit consumers, industry, and society in general by reducing costs and generating revenue from new sources. This in turn creates many new opportunities and could even significantly change how we consume information.
Impact on consumers
The IoT revolution helps telecommunication network providers create value in unprecedented new ways. As consumers’ behavior and expectations change, service providers will need to provide increasingly sophisticated services going forward.
To keep up with consumer demand for connectivity and data, telecom companies must adopt new strategies that tap the power of next-gen mobile devices. They will also need to embrace new technologies such as machine data, for example, to predict failures before they happen.
In a networked society, industry and consumers alike will embrace the full power of Internet connectivity. Experts predict that billions of devices—many of them consumer electronics—will be connected globally by 2021. The IoT will facilitate this through machine-to-machine and machine-to-person communication.
Benefits to the telecommunication industry
IoT data can enhance the customer experience in many ways. Telecommunication businesses can better manage changing network usage patterns; for example, by tapping the power of predictive analytics to avoid network outages when data surges during sports events.
Similarly, IoT technology will enable telecom companies to monitor and plan maintenance more effectively, optimize bandwidth and coverage to boost download times, and improve customer service by reducing dropped calls and service wait times. This in turn will minimize revenue lost to service disruption.
The telecommunications industry has access to massive amounts of data, but it also needs research and development to fully understand customer behavior and build real business value. Driven by innovation and longer-term cost efficiencies, the IoT is poised to create new opportunities, enable new sources of revenue, and help solve many real-world problems.
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