Why Does Your Business Need IoT
Ever thought we might be referring to #things as – Smart? People are smart because generally, we tend to think solutions that are out of the box. Nowadays we expect the ‘things’ around us to provide us smart Solutions-what is making ‘things’ Smart?
Yes, we are discussing IoT, & the multitude of advantages it's providing to numerous sectors. What enterprises find tough to realize is, IoT as technology is supposed to converge your IT with OT (Information technology +Operational technology). The digital wave has given enterprises a chance to adopt technologies like IoT to achieve competitive advantage and serve their customers better. However, Internet of Things (IoT) isn't restricted to solely these functions. PwC predicts the general market for IoT is expected to cross over fifty Billion connected devices with revenue that exceeds $3 Trillion USD by 2020. Will this be possible if solely a select few sectors implement IoT for certain functions? There’s definitely more to the IoT story than businesses believe nowadays.
There are some key reasons why IoT is important for enterprises and that they hold common across sectors, whether healthcare, manufacturing, Service Industries, Retail etc.
Forrester predicts, for the Indian manufacturing sector- IoT can move from the workplace and become an important part of B2B value propositions models. Providing proactive maintenance services would become a business model for several enterprises, to make sure better client experience. For eg; your refrigerator is close to breaking down as the maintenance is due, but you're unaware of it; you receive a telephone call from the customer care “Your service agent for the refrigerator is on his way. Are you able to confirm if you're available?” consumers would be delighted to receive such proactive service calls, wouldn’t they? This won’t be done while not the Internet of Things (IoT). Sensors on the refrigerator keep sending data on the environment of the appliance and send alerts if there's a chance the appliance could breakdown.
IoT is breaking down barriers by serving as a digital thread between applications & humans this way, businesses serve their customers better.
Real-time data – from people, processes, and devices through sensors is revolutionizing. This visibility into what's going on, right now, is game ever-changing, are already seeing innovation across all of the core sectors, for eg; in retail,
Based on real-time insights of buyers retailers will stock products in inventory & on shelf increasing their profits through efficient stock & sales management. IoT plays a significant role in connecting devices like smart cameras, systems, to work in collaboration. This is how businesses can take intelligent decisions starting from service, eventually bringing in new innovations & business models that meet your business goals.
Performing analytics on knowledge coming in from different systems like ERP, SAP, Salesforce etc., within the organization will open your eyes to new dimensions of business techniques. Taking an example of a connected smart office, where devices are integrated & sharing info, there's an enormous pool of information collected by an organization. The company has managed to gather information on the number of hours spent on a printer, the number of pages wasted & the number of times the printer ran dead. This info isn't very helpful to this organization, however undoubtedly helpful to the printer manufacturers, isn’t it? John Deere, an organization who manufactures tractors for a better half of the century found a new business model based on the info they collected from their on-field equipment.
Details that ne'er are tracked before like power consumption, system collaboration, server time utilization, are often optimally & effectively increased to save cost by bringing IoT in the picture.
Isn’t every organization trying to shield their assets? however IoT can create this task easy is give you real-time insights and monitoring into what's happening at the shop-floor or ground level, sensors or wearable tech will shield assets (machines & humans) from incidents that will be dangerous or damaging. These surveillance systems embedded with IoT & analytics at the sting will detect even the misplacement of a device or prevent theft before it even takes place.
What goes unnoticed by businesses nowadays is how simple technology can be moulded to suit your requirements? We’d like to stop looking at the huge prospects IoT will bring round us through a keyhole, and widen our scope to see the long run.
‘My business cannot use technology as big as the Internet of Things (IoT)’, is limiting organizations from exploring its applications. Any organization begins its digital journey by making data available on digital systems and eventually bringing siloed processes & functions to exchange info. Realizing information as an asset, and technologies like IoT the medium for simplifying organizations to capitalize on this information is very important. Those that have realized this are the digital leaders of their sector, and also the rest can soon follow.
Yes, we are discussing IoT, & the multitude of advantages it's providing to numerous sectors. What enterprises find tough to realize is, IoT as technology is supposed to converge your IT with OT (Information technology +Operational technology). The digital wave has given enterprises a chance to adopt technologies like IoT to achieve competitive advantage and serve their customers better. However, Internet of Things (IoT) isn't restricted to solely these functions. PwC predicts the general market for IoT is expected to cross over fifty Billion connected devices with revenue that exceeds $3 Trillion USD by 2020. Will this be possible if solely a select few sectors implement IoT for certain functions? There’s definitely more to the IoT story than businesses believe nowadays.
Why Does Your Business Need IoT?
There are some key reasons why IoT is important for enterprises and that they hold common across sectors, whether healthcare, manufacturing, Service Industries, Retail etc.
Driving Customer Experience
Forrester predicts, for the Indian manufacturing sector- IoT can move from the workplace and become an important part of B2B value propositions models. Providing proactive maintenance services would become a business model for several enterprises, to make sure better client experience. For eg; your refrigerator is close to breaking down as the maintenance is due, but you're unaware of it; you receive a telephone call from the customer care “Your service agent for the refrigerator is on his way. Are you able to confirm if you're available?” consumers would be delighted to receive such proactive service calls, wouldn’t they? This won’t be done while not the Internet of Things (IoT). Sensors on the refrigerator keep sending data on the environment of the appliance and send alerts if there's a chance the appliance could breakdown.
IoT is breaking down barriers by serving as a digital thread between applications & humans this way, businesses serve their customers better.
Driving Real-Time Insights
Real-time data – from people, processes, and devices through sensors is revolutionizing. This visibility into what's going on, right now, is game ever-changing, are already seeing innovation across all of the core sectors, for eg; in retail,
Based on real-time insights of buyers retailers will stock products in inventory & on shelf increasing their profits through efficient stock & sales management. IoT plays a significant role in connecting devices like smart cameras, systems, to work in collaboration. This is how businesses can take intelligent decisions starting from service, eventually bringing in new innovations & business models that meet your business goals.
Driving Business Maturity through Innovative Models
Performing analytics on knowledge coming in from different systems like ERP, SAP, Salesforce etc., within the organization will open your eyes to new dimensions of business techniques. Taking an example of a connected smart office, where devices are integrated & sharing info, there's an enormous pool of information collected by an organization. The company has managed to gather information on the number of hours spent on a printer, the number of pages wasted & the number of times the printer ran dead. This info isn't very helpful to this organization, however undoubtedly helpful to the printer manufacturers, isn’t it? John Deere, an organization who manufactures tractors for a better half of the century found a new business model based on the info they collected from their on-field equipment.
Details that ne'er are tracked before like power consumption, system collaboration, server time utilization, are often optimally & effectively increased to save cost by bringing IoT in the picture.
Driving Intelligent Surveillance
Isn’t every organization trying to shield their assets? however IoT can create this task easy is give you real-time insights and monitoring into what's happening at the shop-floor or ground level, sensors or wearable tech will shield assets (machines & humans) from incidents that will be dangerous or damaging. These surveillance systems embedded with IoT & analytics at the sting will detect even the misplacement of a device or prevent theft before it even takes place.
The Bigger Picture
What goes unnoticed by businesses nowadays is how simple technology can be moulded to suit your requirements? We’d like to stop looking at the huge prospects IoT will bring round us through a keyhole, and widen our scope to see the long run.
‘My business cannot use technology as big as the Internet of Things (IoT)’, is limiting organizations from exploring its applications. Any organization begins its digital journey by making data available on digital systems and eventually bringing siloed processes & functions to exchange info. Realizing information as an asset, and technologies like IoT the medium for simplifying organizations to capitalize on this information is very important. Those that have realized this are the digital leaders of their sector, and also the rest can soon follow.
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