How Internet of things (IoT) is transforming the future business landscape
The technology of Internet of Things has finally started to get a pace. With so many developments for IoT to take place in the technology world, it’s reasonable to say IoT has begun to transform business landscape. We can also spot how IoT is transforming industries like automotive, energy, healthcare, transportation and manufacturing as well as various appliances like door well cam, air tracking, electricity plug, security system, oven, thermostat, and tens of others.
So, is your business IoT ready? How businesses will be affected by the technology of the Internet of Things. This is what this article is trying to find. Let’s begin.
Accessing more data
Data is the key for any business to stay and survive in the market. The more a business owner has data, the more it can connect with consumers. Latest IoT technology connecting various devices is planned in a way so that it can collect a great amount of data than ever before in order to provide accurate services to users. An IoT-ready business is able to track & record consumer-behavior patterns and then to form the next marketing / advertising strategy which proves to be effective to target demographics on a precise qualitative level.
With precise data in hand, a business is able to make intelligent product-recommendations and customize searches to attract more customers.
IoT enabled inventory management process
The technology of IoT will also introduce revolutions in tracking and managing of inventory.
The IoT-enabled remote scanners help a business easily track the inventory of items right from the manufacturing facility to its warehouse to deliveries. IoT can also be applied to automate the inventory management to free up a company from any sort of human involvement that often causes irregularities. So, IoT isn’t just about the ‘smart home’ or ‘smart appliance’, but it’s also about ‘smart office’, smart warehouse, ‘smart goods transportation’ and so on.
Employees working remotely
The technology of IoT offers pretty good possibilities for those who want to work remotely. When IoT technology is coupled with the wireless technology, employees are able to work from a remote location by tapping into their devices from an office or the factory floor. They are able to do more tasks with desired productivity and without wasting time in traveling to remote sites.
Rapid and easy accessibility
The buying-cycle will turn out to be shorter as consumers reach products via a research-based way — optimized / customized according to specific types of users. The search of the items will be possible even with a handful of spoken phrases and, consumers who find the exact match of products they are looking for. Yes, consumers will demand quick deliveries, but fortunately, several partners, such as suppliers and logistics service providers will also apply IoT-enabled practices to their work place. In result, orders will be processed faster.
Efficiency and productivity
Things don’t end at executing with a super speed only. Today’s businesses also need high level productivity and efficiency to complete their operations. Internet of Things can certainly speed up lots of business processes without any compromise in efficiency and productivity. New developments in the technology empower workers to complete big tasks rapidly without even making an error.
Also, businesses will be able to finish their operations with few staff members.
New consumers required
While expanding your business to IoT, don’t forget customers using your IoT-devices will have new needs. They will also want things they have never asked before. Of course, they will expect more out of every new purchase they make and every new order they place. This is where IoT powered smart devices play a crucial role and turn out to be a new standard for appliances, gadgets, accessories, tools, and everything which can have the web or computer connectivity.
New staffing members required
With applying IoT to your business, you will also need new staff members or train the existing ones to make them adapt to new technologies. You will certainly need people who can take care of IoT operations and integrate these IoT-devices into your ongoing procedures.
Continuous customer engagement
When products turn smart, the provide users the ability to interact with and control these products wireless by using network connections and the Internet. These communication capabilities can also be applied to monitor products and provide proactive support.
But how quickly is the technology of IoT going to take off? The primary estimations were fairly ambitious few years back. These estimations indicated people would rapidly adopt IoT devices, but it still took many years. The IoT technology is steadily getting its pace and, as many reports suggest, in the near future, we will see IoT devices becoming popular, for most of the general purpose computing tasks.
Author Bio:- Sofia is a digital marketing expert in Rapidsoft Technologies which is a leading IT consulting company providing full range it services including, IoT application development, ERP software development, and big data app development solutions.
How Internet of things (IoT) is transforming the future business landscape was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.