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7 Things You Never Knew About IoT That Can Boost Your Business

Technological advancements have made it easy for people to work less and gain more, thanks to Virtualization, Artificial Intelligence (AI) and Internet of Things (IoT). IoT is more or less a synchronization of several motors, devices, actuators, software and other appliances via connectivity (mostly wireless), which makes it easy for them to share data. These items or ‘things' can still function on their own and also operate as part of the entire computing system. Devices capable of being connected were over 8 billion - as of 2017. This means that businesses could house most of the equipment they use under one network to make operations a lot easier.

IoT might seem too futuristic - like time-travel machines, self-driving cars, rocket boots or cooling vests. However, devices that connect with each other via the internet will always be a part of our lives. It's no longer news that smart homes are gradually becoming a norm. Therefore, business needs to find a way to connect ‘things' within their facility. Generally, IoT will not only save resources and time, but also lead to growth, development and innovation to enhance sales. Indirectly, you're boosting SEO, as you improve customer experience. Without further ado, here are seven things you never knew about IoT that can boost your business.

 

IoT Saves you a lot of Valuable Time

As a business owner, you need time to carry out the many core operations within your company. With the help of IoT, you can simply multitask, using your smartphone or laptop. You won't have to control each device one by one,as your PC or mobile phone serves as a remote control. In other words, your devices know ‘who' is controlling them and will obey each command accordingly. For example, your Android or iPhone have sensors installed that send out and receive information via an app on your behalf. So, if you're walking past a wholesale store (from where you need supplies), your phone alerts you, based on the documented history of your purchases from that store. Then, it's up-to you to either carry out the transaction or ignore.

IoT leads to a more Affordable and Environmentally friendly Manufacturing

‘Smart grid' technologies (which involve the use of sensors, meters and other digital apparatus under IoT) will be adopted in the workplace to make the interconnectivity between devices easier. These tools are connected to sources of power like wind and solar to help save energy. For manufacturers, this is a huge slash in production costs. The amount of waste produced is greatly reduced, while energy consumption is lowered and equipment that isn't economically viable can be discarded. Furthermore, it's also easy to use renewable energy sources in manufacturing. This helps lower harmful emissions and boosts efficiency of the energy that is produced.

You get to know where all your devices are at any one time

It's important to know the whereabouts of the equipment you use, at any given time. Are there times when you need to use your laptop, but can't find it, leading you to wish you could just ‘Google' it? IoT now assists with the tracking of devices - much like a car tracker. So, using your smartphone, it's easy to keep track of the location of your equipment. Many hospitals these days ensure that their apparatus and devices are geotagged. This makes it easier for personnel to locate important equipment , hence saving time and lives. Other companies who use geotagging can also deploy field staff to track orders, locate vehicles and provide live feeds.

Helps you move Quicker

IoT helps you move a lot faster. For example, if you run an online retail store, you can sync your smartphone with a self-driving delivery car to run your errands, by delivering orders to customers based in your locale. Using your phone, you can conduct your business operations without being there in person or before you even get to your workplace. This has also been made easier by car manufacturing companies like BMW and General Motors, who have taken it upon themselves to create real time diagnostics, information and other services, as well as add LTE connectivity to vehicles. Hopefully, a time will come when there will be ‘smart roads' to help traffic lights work more efficiently in reducing traffic jams.

Makes the collection, processing and saving of data easier

With IoT, you'll be able to collect, process and save as much data as possible in the easiest way you can think of. This will assist strategists and data analysts in making quicker and better judgement calls, as well as help customer service personnel in providing solutions to clients' queries more efficiently. According to a Professor from the Carroll School of Management at Boston College, connecting devices involves a great amount of data. This data can be used to tell exactly what  customers want. If you wish to stay ahead of competition and  come up with products and services that can sell to a wider audience, then don't take the volume of data for granted.

 

Helps you work harder and smarter

The way records were kept in the past has changed over the years. For example, books are no longer used, whereas the likes of Microsoft Excel and Google Sheets have taken over. That's how IoT will change every aspect of business, regardless of industry. You can also install bots to carry out certain tasks in your business. For instance, if you want to find out information about a new web host you might wish to use, your device might locate Freeparking and notify you (based on the history and URL), or even act as a virtual assistant on your behalf.

You can completely control devices from any location

 

Your IT department might already have access to mobile and computer devices from remote locations, but IoT will now enable them to control setup boxes, cameras, sensors and many other devices from anywhere they find themselves.

Many telecommunications companies have began creating platforms to enable IoT applications to provide solutions for businesses, leading to a boost in sales and productivity. This will help you find customers and keep them, whilst ensuring you have total control over your business.

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Published Wednesday, April 25, 2018 7:32 AM by David Marshall
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