As per the recent report of Gartner, 20.4 billion connected things will be in use worldwide by 2020. The implementation of IoT witnesses a new wave of progress in businesses. Technology has undoubtedly become the catalyst for many innovations. In a nutshell, the obvious key benefits of IoT implementation have been faster and efficient production, improvement in quality, replacement of paper-based workflows, and so on. But is the IOT just limited to a few of these advantages? Let us walk through the major features in IoT thtechnology, innovation, at lets various industry verticals go digitally successful.
Benefits of digitizing with IoT:
Digital Transformation is employed by many industry verticals to leverage the benefits of digitizing with IoT for building their brand, improving ROI, connecting with customers, and many more. The first IT revolution commenced with the advent of the Internet and e-commerce. Later on, technology leaped the bounds to innovations via smartphones, user-centric applications, IoT, AI and so on. This is where connected devices found out their deep involvement. Consumer solutions evolved to be a critical catalyst for IT consumerization.
Social, Mobile, Analytics, and Cloud offers a platform for IoT that gives industries the ability to transform into digital standardization. Let’s walk through the major benefits of digitizing with IoT.
1. Enabling Connectivity through IoT For Data-Driven Insights
Smart access is the key to a successful digital environment in any industry. Being able to track the metrics of performance and operations is possible via data analytics. The insights are achieved through pattern recognition of unstructured and structured data. These data-based insights are incorporated into the business functions where previous activities are tracked and monitored to develop forecasts.
The data-driven insights help in understanding customer buying decisions and in obtaining real-time reviews. This helps industries personalize their data to target the right set of customers. Structured data, which is the personal information and unstructured data which is the social media metrics, are both used by industries for critical decision-making.
2. Enabling Smart IoT Enabled Appliances
Various industry verticals can optimize their operations without the need for workforce assistance. This saves time and cost. The workforce can now automate their tedious tasks by being able to connect to multiple devices and operate in real-time. Industries can boost their performance and productivity by increasing both customer and employee engagement.
3. Increase Workflow Optimization with Smart Infrastructure
When large volumes of data are analysed, it makes way for industries to convert them into more useful insights. These insights are then used for making decisions.
4. Transform Customer experience With IoT
Improved customer UX requires the implementation of the latest trends in IoT. So when User Experience is king, many front line industries have realized that digitally transforming their businesses with IoT is key to gaining successful outcomes.
5. Enhance and Update skills
With the advent of IoT implementation in businesses, the need for specialized skills has also increased. These skills include knowledge in Artificial Intelligence, Augmented Reality, Data Analytics, Machine Learning, Cloud Computing, Growth Hacking, and so on.
6. Consolidate the Entire Architecture and Workflow
Digitizing with IoT has provided businesses with the advantage of being able to communicate in real-time. Not only does it bring the working force together, to work, but also optimizes the whole architecture.
Leveraging on data analytics and IOT have generated over 30 million dollars. It is high time to take action to digitally transform your business with IoT for sustained outcomes. Call our experts right away for step-by-step guidance on how to strategically transform your business with the Internet of Things.