In our previous blogs on IoT, we have already known how it benefits the consumers directly. Smart Homes, Smart Cars and Smart Lights are great ideas for not just comfort and entertainment but also for safety, health and energy use. These applications do have tremendous potential for creating value, but we believe that there is even greater potential value from IoT use in business-to-business applications. In many instances, such as in manufacturing applications, there is no direct impact for consumers but by leveraging IoT, businesses will be bestowed with a wide range of opportunities that will result in significant benefits.
The Internet of Things can be used to automate and monitor almost everything imaginable. Being able to keep track of any and all data produced by connected devices and using that to automate the routine tasks that take up time in the workplace could do wonders for businesses and efficiency overall. It is believed that the IoT (Internet of Things) has the ability to completely transform the our living and our way of doing business.
From cars and highways to spacecrafts, solar farms and basic factory machinery, billions of smart machines and devices are connected across the globe. These machines are programmed to collect data of the everything around them, which they share with each other. Organisations across the industries are using these information to refine their operating models, create better products and implement more efficient processes. All the information can be easily accessed by mobile app with integrating the smartphone with devices.
In this era, digitization of machines, vehicles, and other elements of the physical world is a powerful idea. Even at this early stage, the Internet of Things is beginning to show its real impact. It is changing how goods are manufactured and distributed, how products are serviced and refined, and how doctors and patients manage health and wellness. All this will have four basic requirements:-
These are basically the spaces where the most smart workers sit together to take the managerial decisions for the company. The basic IoT solutions that can be highly anticipated for offices are: Energy management, security in office buildings; organizational redesign, worker monitoring and augmented reality for training.
These are places where there is direct business to consumer relation eg. stores, banks, restaurants, arenas—anywhere consumers consider and buy. IoT systems that can be considered by retail business are automated checkout, layout optimization, smart Customer Relationship Management, in-store personalized promotions and inventory management. Beacon technology is becoming very popular in retail environments for promotions and attracting the customers.
These are standardized production environments where there is repetitive work routine. Such places would include hospitals, agricultural lands as well as manufacturing facilities. The resolvents by IoT that are proved favorable for such environment are operational optimization, predictive maintenance, inventory optimization, health and safety of workers.
These are customised production environments, created as per need of location and type of output. Example, Mining, oil drilling, construction, etc. Being hazardous among the other workplaces, IoT devices for ascertaining health and safety of people are necessary for such enterprises. Other important solutions are operations optimization, equipment maintenance and IoT enabled R&D.
By now, it is fairly understood that the magnitude of potential economic impact from IoT applications over the next ten years would be huge. Seizing that potential will need innovation in IoT technologies and business models, also investment in new skills and talents. So if you haven’t yet thought about what IoT can do for your business, it’s time to act. It’s time to consult and partner with someone who can take you to the forefront of IoT. Only a potent technology wizard can offer solutions to bring IoT alive within your enterprise.
LetsNurture helps you to get all your operational pieces together and make your transformation happen to proven IoT technology and expertise so that you can create new revenue streams, manage risk and improve the customer experience. Get in touch with us and unleash the opportunities that you have.