Secrets of IoT Success
Powerful, cost-efficient, and scalable, IoT is utilized by nearly every major industry in some form and is responsible for saving enterprises billions in revenue by improving customer experience, enhancing internal processes, and reducing overall costs.
The Internet of Things, or IoT, refers to the connection between stand-alone, internet-connected devices (outside of standard computers and smartphones) that can be monitored or controlled remotely. Smart sensors, doorbell cameras, fitness trackers, and countless other devices are all a part of the IoT network and help humans simplify and streamline a variety of daily tasks. When applied to businesses, IoT devices have the ability to revolutionize operational efficiency and provide a substantial competitive advantage.
While tech-forward industries led the way in adopting IoT, the restaurant, auto manufacturing, and construction sectors have also benefitted from this connective technology. ”Connected kitchens” have allowed restaurants to use Wifi-enabled sensors to optimize processes for food safety, handheld devices to turn tables more efficiently and increase sales, and monitoring platforms to reduce monthly energy usage. The auto industry has utilized IoT software in self-driving car networks that can reduce the risks involved with human drivers, adaptive cruise control features that can improve fuel efficiency, and automated production processes that decrease the need for manual labor. In the construction industry, IoT devices have allowed crews to test and measure the strength and durability of materials on-site, detect unsafe work conditions due to temperature, fire, or mold, and automate processes that keep projects on time and under budget.
No matter what industry is employing the technology, IoT is all about increasing operational efficiency. Retailers are constantly searching for new ways to improve customer experience, drive cost savings, and gain a competitive edge. Innovations like smart shelves that trigger inventory processes, beacons that send personalized notifications to shoppers, and automated checkout technology all enable retailers to become more operationally efficient. Many of these same IoT technologies can even be applied on the broader level to improve municipal functions, increase energy conservation, and better manage cities’ assets and resources.
While there are some hurdles to implementing enterprise IoT solutions, out-of-the-box thought leaders and progressive businesses that are flexible and innovative can see that the pros outweigh the cons. Taking steps to ensure device security, being willing to learn from mistakes, and being able to adapt to new technologies and trends are crucial to the successful integration of IoT technology into an enterprise. But by setting, monitoring, and evolving a viable strategy for IoT implementation, businesses can take advantage of the efficiency, safety, and connectivity that the technology can provide.