Two tangible business impacts of IoT

IoT is the new favorite of CIOs. A lot of buzz is there in the market. So it’s really important to understand the tangible benefits of IoT.

According to Forrester, IoT impact businesses in two ways :

1. Enhance front end customer experience: Every industry has different definitions and requirements to enhance the customer experience and it’s very difficult to list down each and every aspect of customer experience. Broadly,  following are the initiatives should be taken to enhance customer experience:

  • Build Smarter Products by tapping the enormous data
  • Use the data to make Customer order and delivery tracking more efficient and precise
  • Enhance Energy management by deploying intelligent sensors
  • Enhance Security and public safety monitoring or surveillance by making things talk to each other and managed centrally
  • Connected sensors which can be controlled through handheld devices or from a remote location making Smarter homes. 

2. Improve backend operational efficiency: A business is as efficient as its backend is. Processes like navigation, metering, asset tracking, notifications, monitoring and ordering support the following use cases:

  • Fleet Management: Navigation systems and asset tracking systems have made it possible for reduce the cost and use the same money to invest in core business processes 
  • Logistics and Transport: It’s become easy to monitor non stationary assets’ inventory with the help of chip in the near real time.  A report published by Forrester highlights how Cargo View uses smart global SIM cards to provide an automatic airplane mode during flight times so that connected objects travel in a safe FAA compliant mode when on a aircraft.
  • Predictive and Prescriptive maintenance: Real time monitoring services enables Predictive and Prescriptive maintenance. Now it’s possible to predict  failure or adapt precautionary methods so that failure can be avoided or aftermaths can be minimized.
  • Supply chain management: Monitoring and tracking reliably the status of fast moving consumer goods and assets is a competitive advantage. So if tomorrow don’t get surprised when you milk man carry a bag with a chip embedded in it and capturing the location data, temperature data etc and transmitting it to the server to make the milk delivery in a next level.
  • Safety monitoring and surveillance:   Location specific data adds tremendous relevancy to IoT solutions. Imagine you got a car which transmits location continuously to your mobile device. And in case you come across an familiar route you disable the car.

IoT solutions are getting smarter and more attractive not because of two important facts:

1. Machines  can now talk to each other

2. There is a program sitting somewhere which make the hardware, users and other machines understand what is being said, how is it being said, when is it being said, by whom and to whom it’s being said.

To get you started, all you need is an IoT platform which already has most of the stuffs ready for you, you just have to start writing the codes. Yes I am talking about  IoT platforms on Cloud !!!

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