Did you know that some of the biggest losses to businesses have happened due to human error? Back in September 1999, a mismatch in converting units from the British imperial system to metric system resulted in a $125 million Mars orbiter getting lost in space! A small mix up between kilometers and miles flung the orbiter so far off-course that it could now be orbiting the sun.
A stupidly simple IoT implementation could have corrected such an error automatically and saved the precious millions. Today, almost 20 years since, are industries finally utilizing IoT well? They should be. Industrial IoT can single-handedly solve some of the biggest problems by eliminating, or at least minimizing human error and reducing operation costs, saving millions of dollars each year.
IoT for Minimizing Human Error
Minimizing the damage done by human errors must be a top priority for businesses worldwide, and this applies equally to small and large businesses. Barclays Digital Eagle’s online fraud prevention expert Joe Cooksey has confirmed that the largest percentage of cyber security breaches happen due to human error. Such security breaches cost businesses thousands of dollars every year. However, experts have strong reasons to believe that industrial IoT can greatly mitigate the …