Will The Internet of Things (IoT) Enable Restaurant Brick/Morter to Predict Daily Sales?

Image Credit: Forbes.com

Image Credit: Forbes.com

Editor - as a restaurant management professional with over 20 years experience, I often ponder how emergent tech impacts today's restaurants, both indie and multi-unit. This Information Week Executive Insights article provides great background questions to consider on how the Internet of Things exploding across the business world and society will impact the restaurant industry. For a great simple article explaining the Internet of Things, click here. I'd love your thoughts in the comments.. Jeff

Internet of Things Done Wrong Stifles Innovation

Anticipate and embrace the changes the Internet of things will bring or it will do more harm than good.

The concept of the Internet of things (IoT) dates back to the early '80s when the first appliance, a Coke machine at Carnegie Mellon University, was connected to the Internet to check its inventory to determine how many drinks were available. But IoT wouldn't become practical until IPv6's huge increase in IP address space allowed us to assign an IP address to every "thing."

The emerging IoT market we see now is all about a new way of connecting people with products and how products will connect with each other. Before long there will be more "things" on the Internet than people, according to Gartner, with over 26 billion connected devices by 2020. Investors are taking note – pouring $1.1B in financing across 153 deals across the IoT ecosystem in 2013, a rise of 11% year-over-year.

While much opportunity and innovation will result from IoT, there's a dark side that should be addressed early on in the adoption cycle. Read More..