Investigating the Implications of the Internet of Things on Business Performance

Abstract

The primary purpose of the research was to learn what industrial employees and employers felt about the Internet of Things (IoT) and how it was being utilised to operate their companies. It's also important to figure out how the Internet of Things affects company performance. The study was conducted using a descriptive research approach. The data was acquired from 67 respondents who worked in 38 different business divisions and used the Internet of Things. A standardised questionnaire was used to collect the information. According to the survey's findings, the majority of respondents felt that the Internet of Things (IoT) is critical in today's business environment. It was also revealed that the Internet of Things (IoT) considerably supports decision making, enables data storage and retrieval, aids in the speedy discovery and rectification of errors, enhances operational efficiency, and promotes increased system monitoring. It may also be inferred that the Internet of Things has a significant impact on decision-making, system monitoring, business unit competitiveness, and operational efficiency. As a consequence, it may be stated that the Internet of Things (IoT) is crucial for increased business performance in the present age.