First of all the Internet-of-Things is about smart assets and the way to use them to transform your business into higher profitability and deliver up-to-date and state-of-the-art customer services around these assets.
Today it is quite normal that machines and devices are filled with sensors. Take a modern car, a heating system or a scanner, all these devices already uses sensor technology to save energy, make diagnostics easier for Field service technicians or to remind user that a maintenance is necessary. In the past all this was normally build into the asset, so a service engineer hat to plugin a diagnostic device to analyze the machine or the device communicated with an internal interface.
Imagine a milk cow with an implant that permanently delivers health care data to the farmers IoT database. Now he can separate sick cows easily and avoid polluting his milk. The same system now optimizes the food-mix and adds medicals, if necessary, for that cow.
Imagine that smart devices are hooked up to the cloud and all included sensors inside the device deliver their data to a smart IT backend that gathers these data and uses them to initiate the right processes. This will enable the devices to be an active part in your future business. Let it be for service delivery or cross-selling or sales of consumables. This would have a big impact into your business, because you might predict a problem or a demand, a customer might have before he even recognized it. All this based on data gathered directly during runtime of the devices.