IoT has been hot for some time now, and, according to Forrester’s predictions, will continue its steady upward course in the market in 2019. To wit: 85 percent of companies are expected to bank on IoT, with a considerable number of them planning to outsource IoT development for “run offerings” that consist in implementing, monitoring, and managing a disparate array of devices, gateways, databases, and connections.
IoT popularity is hardly surprising. Such a growing demand owes to a miscellany of benefits that connected devices offer — across all verticals and business domains.
Revamped Customer Experience
It’s not new that providing an outstanding customer experience (CX) is the pillar of a company’s financial success. Even a small improvement in CX is able to positively impact the revenue, allowing an average $1 billion firm to gain extra $775 million three years down the road. And by actively leveraging location-based marketing and beacon technology, retailers seem to be on the frontline in this regard.
For example, Allrecipes, a big food brand, harnessed its Dinner Spinner app and the power of beacons to provide customers with a personalized experience. When entering a Marc’s store, shoppers get beacon-triggered notifications on meal ideas — depending on the products being sold in a particular store, the season, and local weather. Apart from sparing customers the headache of what to cook for dinner, Allrecipes also helps them stretch the money with the optimal product recommendations.
On top of that, beacon technology is actively used to inform customers of nearby promotions, deals, and discounts, as well as to treat shoppers with rewards for entering the store or trying on some merch.
Increased Productivity
Transportation, agriculture, and manufacturing are among other industries actively entering the territory of IoT benefits.
Namely, logistics companies use sensors and RFID technology to improve supply chain and fleet management, asset tracking, delivery planning, and warehousing. Moreover, the IoT application scope in transportation extends to developing self-driving vehicles and drones.
IoT has also become the foundation for creating smart agricultural equipment that runs the gamut from smart water control pumps and chemical level monitors to cattle tracking and greenhouse remote monitoring systems.
In manufacturing, IoT is no new notion, either. An array of plants rely on smart sensors to better monitor and maintain equipment. A case in point: General Electric marriages sensor tech with analytics to optimize its machinery performance and eliminate downtime.
Enhanced Security
The notion “smart home” has almost become synonymous to IoT tech, with voice control systems, smart heating, and lightning controllers being the first things that come to mind. But in addition to facilitating human life and economizing energy, IoT has shown great potential in the security and safety sphere.
For example, smart cameras and live streaming apps give homeowners a close eye on what is happening inside and outside their apartment. On the other hand, smoke and carbon detectors, emergency buttons, baby-proof gadgets, and smart door locks are making significant inroads into the personal safety space.
Going beyond the boundaries of a smart home, IoT is becoming a great enabler in improving security in financial entities, educational institutions, business and industrial premises, police departments, and a number of outdoor public places — with its smart surveillance cameras, workplace safety monitors, and industrial security systems.
Improved Communication
Effective communication and collaboration are the kernel of success for any venture. And it might be a challenge when part of a company’s employees works remotely. Thankfully, advanced enterprise technology has all the potential to tackle this.
Namely, IoT-powered telepresence robots are able to give remote employees a 360-degree view of the workplace and help easily participate in scheduled meetings and other events within a regular office environment.
Besides, IoT lends itself well to healthcare. Smartwatches and other medical wearable devices and gadgets can support live streaming, combine audio calling and messaging — helping physicians reach patients in remote locations, mentor patients’ relatives about home care, and enhance doctor-to-doctor communication.
There’s More to the Story
Improved CX and productivity, enhanced security and collaboration — the list of IoT benefits is to be completed, as well as the list of industries an IoT infrastructure perfectly fits in.
And no matter what your business objectives are and what the future IoT solution scope will be, make sure you’re aware of possible data protection concerns in connection with CCTV and drones, and other IoT devices.
About the author: Yana Yelina is a Technology Writer at Oxagile, a provider of software engineering and IT consulting services. Her articles have been featured on KDNuggets, ITProPortal, Business2Community, UX Matters, and Datafloq, to name a few. Yana is passionate about the untapped potential of technology and explores the perks it can bring businesses of every stripe. Reach Yana at [email protected] or connect via LinkedIn or Twitter.
Edited by
Ken Briodagh
