The Internet of Things (IoT) is the network of physical devices, vehicles, home appliances and other items embedded with electronics, software and sensors. It allows these objects to send and receive data, which can be used to enhance their functionality. The IoT has the potential to significantly reduce costs by reducing downtime, increasing efficiency and improving safety.
The IoT can benefit a business in many ways. By leveraging this technology, an enterprise can gain insights into how their customers are using their products and services. This allows them to make better product decisions and provide more personalised service. It also enables companies to optimise their supply chain by monitoring inventory levels and planning for shortages or surpluses.
However, not all businesses are ready for the IoT. To engage business owners without websites and mobile application programming interfaces (APIs), companies must first understand what they need from their IoT solution provider. Here are some questions to ask:
What types of data do you collect through your solution?
How will you store this information? Will it be centralised or decentralised?
What security features do you offer? Are they proprietary or open source?
These questions should be considered if companies were to consider jumping onto the IoT bandwagon.
Benefits of IoT: Takeaways
Businesses can benefit from advanced IoT analytics in the form of increased efficiency and productivity as well as cost savings.
Through innovation and redefining traditional business operation models, IoT creates new business opportunities.
Customer experience is critical for increased revenue, and IoT allows for the tracking of customer behaviours for maximum impact.
Businesses should protect data flowing to and from IoT devices for optimal security and to avoid service interruptions.
Kommentare