The benefits of the Internet of Things for businesses

The Internet of Things is defined as the network that consists of 'Smart' devices, from industrial machines to wearable devices, that use integrated sensors for the collection and transmission of data or for taking over an action based on the collected data. These devices are connected to the internet and collect and exchange information, communicate with each other as well as with the databases.  The most important business benefits of the Internet of Things are the enhanced business insights and customer experience, the decrease of functional costs and the increased efficiency, productivity and security.