The internet of things (IOT) is a new technology that helps you connect with anything, from small light bulb to your house everything connected together. According to experts there is increased demand for IOT devices, as per research there will be 26 billion IoT devices till 2020. This technology is going to be handy in many fields and among the areas, business is going to take most benefits from it. Big data, connected systems, sensors, and robotization will completely change the ways of business.
According to business insider’s report, there was a growth of IOT since two years, especially how governments, businesses, and customers are utilizing this technology. Another report published by Cisco has reported that the number of devices connected to the internet exceeds the number of people in the workd. This number will keep rising, and with the help of IOT, we can connect sellers and buyers on a single platform. Internet of things is changing business and it will keep doing it, some of the areas where this technology will be useful to business are as under.
How is Business going to Deal with Data?
Business owners love data and with devices connected together, customers will have new methods to interact with business, they will be able to access great among of data on one platform. New smart devices will be able to tract customer-behavior for upgrades. Customers will be able to make intelligent searches and there will be recommended products available in innovate ways.
Business will take full advantage of using data and coming up with targeted advertisements and get accurate demographics. There will be more data available to business owners when customers buy something.
Smarter Decision Making
Internet of things is not only about smart devices, but sensors. These small sensors can be everywhere, from small teacups to cars and traffic signals. These will record data and will send it back to the people for better decisions. These sensors will allow businesses to collect data and help equip themselves with the latest technology. Business can also predict what will be the latest trend in the future and adjust products accordingly.
Better ways to monitor progress
If you can measure something you will be able to equip yourself to improve it. Monitoring is important in manufacturing, and IOT will provide a detail monitoring reports to the business, this includes field work and related operations.
Wearable sensors will be able to monitor individual progress and send information directly to the employers for better results. These special sensors will also help communicate and provide detail analytics from which business can take benefit. This will also reduce the cost of products.
Ensuring high-quality products
There are far more applications of IOT than just smart homes and offices. Small businesses can increase the quality of products, especially in locations where conditions should be monitored constantly. IOT can help businesses such as agriculture or manufacturers to maintain quality at different locations at a time.
Sensors call inform business owners about the moisture in soil or light at a particular location. This will be helpful if your product is delicate. Using sensors, growth can be monitored and businesses can switch systems to maintain quality.
Better Customer handling
Sensors can make it easy for advertisers and marketers to handle customers and offer rates that are reasonable for people. They can use information collected from sensors to make changes and present products that can satisfy customers. Sensors can also help monitor the behavior of customers for a particular product and handle customers accordingly.