The buzz over “The Internet of Things,” also known as “IoT,” is increasingly popping up in Information Technology and Industrial Engineering presentations.  IoT is being heralded as the mechanism to achieve the next industrial revolution (Industry 4.0), as inexpensive sensors using wireless technology provide mountains of data.  

As business becomes more focused on being data driven, the convergence of cheap hardware and very powerful software holds enormous promise. As more applications of IoT are being delivered to integrate with facilities, an understanding of the promise and reality of IoT is crucial. 

Best not to spend too much before the technology is ready, or fall perilously behind the competition while waiting for this technology to be perfected or come down in cost. This introductory presentation will focus on the state of development of the technology and applications as relate directly to facility management, and suggest five immediate actions to be taken for cost effectuate implementation in 2017-18.