Did you know, experts predict that more than half of new businesses will run on the Internet of Things (IoT) by 2020? In fact, there are almost 30 billion IoT connected devices around the world today. So, here’s a question… is your business ready for IoT?
IoT continues to transform assets into intelligent devices, and given that this industry is soon to be worth hundreds of billions of pounds, perhaps it’s time you considered just how much of an impact it will have on your enterprise in the near future.
So, what is IoT?
IoT is a network of machines, devices and objects that connect to one another via the internet. Such devices vary from simple sensors to the latest smartphones and are recognised for being intelligent assets, helping to connect the world that we live in.
IoT continues to grow, and as it does so, it becomes ever more of an essential tool for businesses to employ. But why? Well, there are many ways IoT can impact on and help your business. Here we discuss 5 ways your business can evolve with IoT:
How IoT Can Change Businesses for the Better
Intelligent Business Assets
Through a range of technologies, IoT generates intelligent assets ideal for business use. Dependent on the machine or device’s particular function, IoT can help to capture relevant data, for instance speed or temperature, making that object a real business asset. Such intelligence can also facilitate common business processes such as inventory tracking and management.
For businesses that rely on warehousing, manufacturing etc. remote scanners are common tools used to keep track of inventory. In future however, smart devices will work to manage inventory changes automatically, freeing up your workers time for other demanding tasks.
You’ve seen the latest smart home devices such as the Amazon Echo and Dyson 360 Eye, but it’s no longer simply a matter of creating a “smart home” with help of IoT, it’s about creating the “smart business” too – be it a warehouse or office space.
Thanks to the Internet of Things combining connected devices with automated systems, you are able to gather data, analyse it and create an action. This offers the critical functionalities that a mobile cellular SIM cannot. Anything that reports data can use an IoT SIM card.
Automated tasks mean less reliance on your workforce, therefore minimising the opportunity for human error. Some automated IoT processes also enable businesses to run 24 hours a day. Many businesses are choosing to utilise such IoT advantages in order to get ahead of their competitors.
Data at Every Stage of the Buying Cycle
With the help of IoT, devices are connecting consumers in smart new ways, so there’s greater access to data than ever before. IoT enables smart devices to track and record patterns in consumer behaviours.
This means businesses are better equipped to choose recommended products and services based on data-based insights , allowing them to target more specific demographics.
We’re likely to see more data at each stage of the buying cycle, influencing business decisions as time goes on.
Such technological advances mean that as a business, you’ll be able to get more done in less time, therefore maximising productivity and efficiencies within your company.
Internet of Things developments are likely to enable you and your employees to undertake important tasks faster and with more accuracy, such as data analysis and management.
Happier Remote Workers
For remote workers within your business, IoT enables them to be better connected no matter where they’re located, with the help of several devices all wired into the same network.
Your workers are likely to achieve new tasks while working remotely simply by tapping into devices in your office or warehouse.
Such an arrangement ensures your remote workers are kept happy and more productive, and can even help to improve your bottom line.
IoT Creates a Much More Connected World
As we enter into a connected future, the potentials for amazing innovative deployments for businesses increase rapidly, all thanks to the Internet of Things.
There’s no disputing that IoT is complex, especially with various suppliers providing a variety of solution, but Trinsic can help.
Trinsic have a Global IoT offering in partnership with Vodafone, meaning we can supply and support a wide range of end to end solutions to simplify IoT for all businesses, even those with offices outside of the UK. To find out more, contact us today.