As a businessman, you might have many questions. Where is your business going? Is it thriving, static or deteriorating? How can you make it on par with modern technology breakthroughs to ensure your business is set up for the long term? How can you make your employees more efficient and reduce costs at the same time? What can you do to make your customers satisfied? How can you make the optimal use of the resources you have?
Inspiration > Ideas > Partnerships
The answers to these and many such questions already exist in your business. You just need ideas, inspiration and technology partners to help you, not in surviving in the market but to make your business prosper.
Every day new trends and technology take over the market, many of which you are still unaware of. IoT is one of the latest and most exciting of those movements in technology. IoT basically means endowing things—spaces, objects, processes—with the capability to produce and transfer data over a network, blurring the boundary between the digital and physical world. IoT in business is an excellent form of what’s today commonly called “digital transformation.”
Networking Your Things
IoT is often hyped up as “millions or billions of devices and systems” connected to the internet. It’s more productive to think of IoT as the Internet of Your Things. Look beyond the hype and focus on real applications and use cases in your business. Create a strategy to unlock the potential of the Internet of Your Things to generate return on investment (ROI) and drive efficiencies and insights for your organization.
Simply put, these connected “things” that make up an IoT system are producing large amounts of information. So, tap into those data streams and connect them to your business processes. You can thus optimize business processes and decision making, identify new revenue opportunities and better understand customer and partner behaviors.
Robots on a factory floor send production and maintenance information directly to those who need it for improved reliability and uptime. Sensors installed inside equipment will check if any part is not on par with its designed thresholds and will automatically send reports to owners and manufacturers. In each case, new insights have generated that drive the organization’s objectives forward on many levels.
Connecting Your People to Your Things
IoT starts with identifying the one process, product line or location that matters most and then making small changes with a big impact. Find a few key areas of your business that provide the quickest return and aim to optimize them by connecting your people and infrastructure together. The power of IoT in business and your existing assets enables you to:
- Connect your already existing data and systems with new data sources to gain new insights into the business which are futuristic and efficient
- Scale your IoT project to your business needs and get started quickly
- Capture, analyze and mine disparate data to create new insights and predict future outcomes