IoT is one of the most hot topic in the tech industry however one only sees IoT as home optimization tool till now. We really fail to address the importance of IoT for the business. As of today, there are more connected devices than the users and the ratio will keep on growing with time.
The Internet of Things will provide ways for business to stay connected and millions of users to become giant database and big data analysis to ensure the fluidity of ideas as a whole. IoT means more connected devices generating more data to help more individuals and businesses.
Increase in productivity is one of the basic and most interesting aspect for IoT for business scenario. IoT devices can improve business and production processes and result in better profits. In some cases businesses see IoT as an immediate ROI for the firm and are ready to use it in near future. An example of its application would be triggering a preventive maintenance for a machinery rather than reactive maintenance that causes more damage.
Customers are the main asset of any organization and providing customers with perfect environment and bringing them closer and maintaining brand loyalty is one of the concerns bigger firms are concentrating on and Customer Experience (CX) is becoming more and more important. Internet of Things can add great amount of satisfaction and sense of connectivity between organization and consumer. Allowing users to keep track of their order’s shipment via GPS or allowing users to take better check and balance of their smart cars that prompt user to check oil or replace a part as soon as he make a plan for trip.
Internet of Things have wide implementation and business are ready to accept and get most out of it. By 2020 around 50 billion devices will be connected and it will almost be impossible to stay out of the IoT era. However it will surely allow businesses to grow and improve as whole.