Data is the new currency, IoT applications are sources of generating, processing and distributing data, this is what drives the concept of the Internet of Things.
How is the stored and analyzed data from IoT application are used?
Businesses: Businesses determine buying patterns, forecast new trends, and streamline production.
Government: Governments monitor the environment, forecast population trends, predict crime rates, and plan for social services.
City: Cities control traffic, monitor parking, provide police or fire support quicker, and control waste management.
IoT applications run on IoT devices and can be created to be specific to almost every industry and vertical, including healthcare, industrial automation, smart homes and buildings, automotive, and wearable technology. Increasingly, IoT applications are using AI and machine learning to add intelligence to devices.
An IoT application is making the devices connected to each other and the internet, it let them collect and communicate data and make precise and informed decisions through Machine Learning and Neural Networks collecting, processing and delivering billions of petabytes of data every day to users.