For quite some time now, marketers and technology enthusiasts alike have discussed about the coming of IoT or Internet of Things. Because of various products such as Amazon Echo and Google Home, it’s not surprising that 2017 would be IoT’s year. Originally, people estimated that it would result in around 50 billion ‘connected’ devices by 2020 but a few revised estimates displayed 30 billion and more. So the main question is, are you and your business ready for the impact of IoT? Let’s say that you’re business is not actually directly involve with technology, it will still have a massive impact in general.
Data, Lots and Lots of Data
Just about and marketer and entrepreneur out there will love data, or at least be inclined to be involved in it. That being said, IoT devices that connect consumers with businesses or representatives produce a whole different way of interacting; because of the connectivity that the said devices enable, we’ll have better access to tons of data compared to before. Smart devices can record as well as track patterns of consumer behavior. It’s a crucial skill, because if the devices can effectively learn the preferences of the consumers, then it can feature spot on product recommendations; the device will also be able to customize searches in ways that was impossible before.
Companies as well as other organizations can make use of these data-based insights and develop better and updated advertising; they’re able to efficiently target demographics on a finer and qualitative level.
Management and Tracking of the Inventory
Second on the list that IoT will most likely impact is the way that organizations and companies can track as well as manage their inventory. For businesses that heavily rely on storage, warehousing and manufacturing, they probably make use of remote scanners and other effective devices to help their employees record and track every items found in their inventory. It’s just a matter of time before smart devices of any kind can automatically keep record of inventory changes. When it happens, your employees will be free of the constant task of updating the inventory record; they’ll have more time doing other important tasks. Developers are not just aiming for ‘smart home’ anymore but also a ‘smart office’ or a ‘smart warehouse.’
Let’s say that you own one of the businesses that is not directly involved with physical inventory, IoT will still be able to open windows of opportunity involving remote work. Multiple devices that are efficiently connected into a single network will let your employees control and do tasks with just a single device. Imagine, an employee can accomplish their tasks no matter there they are in your establishment; there no need to physically go to another floor just to get a file of keep track of items, they can finish their tasks quickly and efficiently without moving around so much. Employees that make use of remote devices tend to be more productive and happier with their job, so bottom line is that IoT will not only help your process and but it also enhances your bottom line.
Access and Speed
Consumers will most likely have new and better access to research and purchasing with the help of IoT devices, therefore the entire buying cycle will shorten. Ideally, after a few short words the consumers will find the exactly item that they’re looking for so an order can be placed almost immediately. The partners, suppliers and logistics relevant to your order will have similar advanced devices used in their process in order to serve their customers better and faster.
Efficiency and Productivity
The whole development and implementation of the IoT is not solely focused on speed; they’re aimed at getting tasks done in less time but that’s not the only goal. Aside from instant overall gratification, IoT aims to prioritize efficiency and productivity. Some of the best and latest IoT developments lets you and your employees accomplish bigger tasks quicker and enhanced precision; these tasks also include management as well as data analysis. After implementing the devices and programs, you might find that you’re overstaffed or you’re now able to expand your operations to new areas.
New Needs of the Consumer
With regards to expanding your business, keep in mind that consumers who divulge in IoT devices are bound to have new and different sets of needs. They will want items and services that they didn’t know they wanted before. Plus, with the implementation of a new and better system, expectations are sky high. ‘Smart’ devices might be considered as the new standard for various gadgets, appliances and maybe even a handful of furniture. Added integration is also expected as well as better tools and accessories to make their lives smoother and more efficient.