Applications of IoT in business (IoT) connects all aspects of your company; from production to the delivery of ready products. Imagine the Internet of things as a business assistant, but with superpower abilities.
IoT technology uses the internet to connect devices and to your stuff. This connection allows the devices to control and interact with each other to fit into the users’ schedules and preferences. Opening doors using your smartphone or switching off your lights using your smart watch is an example of IoT usage. Applications of IoT in business involves integration of sensors and associated technologies with security systems, inventory control systems, warehousing systems and manufacturing processes.
Let us bring the applications of IoT in business into perspective, shall we?
Suppose you have a business meeting scheduled at 8.PM. Unfortunately, as you step out of your house, you get a heart attack. Your wrist health monitor detects your condition, prompts your phone to call for an ambulance. Also, your phone also sends a text message to notify the people you were supposed to meet with to inform them that you will not attend the meeting since you have a medical emergency.
There are many applications of IoT in businesses that companies across the world over are using to ease their processes, increase customer engagement, and increase revenue. You can enhance your business using IoT in the following ways:
1. Track Equipment with IoT Tagging
Company equipment is meant to do company work. When they are abused for roles outside the allocated functions, the business loses a lot of money in repairs and tire and wear. You can take advantage of IoT business opportunities to track the usage of laptops, printers, projectors, and cars – practically anything with an and off switch.
IoT business opportunities enable you to manage all your equipment on one platform. You can also tell when people log in to the system, where your business vehicles are headed and what they are carrying, and even their weight.
The other convenience of application of IoT in business is that you don’t have to wait for staff to tell you that equipment is faulty. Say a business vehicle has a mechanical challenge while on the way to deliver goods. The application installed into your vehicle notifies the logistics team in the office about the challenge and also notifies a nearby mechanic who comes and solves the problem and soon your goods will be delivered on time. Companies can utilize various IoT business opportunities in logistics and transport to streamline shipping processes.
2. Monitor Consumer Behavior with IoT
When IoT combines with artificial intelligence (AI), you can monitor your customer or prospects’ preferences, how they interact with your product, and how often they use it. Through applications of IoT in business, you can gather data intelligently to learn about consumer behavior. The information you gather will help you to improve your product to fit better with your intended user’s preference.
In addition to products, you can also use applications of IoT in business to monitor which parts of your retail store attract customers and keeps them engaged. This fete is achieved through heat mapping, a process that monitors the number of people visiting your store, where they frequent, and for how long.
3. Take advantage of IoT Business Opportunities to Secure Your Business
The security of your business as important as generating revenue. With the advancement of scammers and thieves, you need a system that detects breach and remedies them promptly. The application of IoT in business not only protects your business against losses but also gives you peace of mind.
4. Reduce Production Costs by Incorporating IoT in your Business
IoT business opportunities help you to monitor the costs of raw materials. The information gathered helps you to know which part of your production activities is spending unnecessarily huge amounts of money. What is even more, you can monitor the suppliers of your raw materials and, therefore buy from the cheapest supplier.
5. Consider Offshore Software Development
The cost of having IT specialists to develop and maintain software on your payroll can hugely impact your overall production cost. Outsourcing app design and development services can help you with your applications of IoT in business can help you in the following ways:
· Get an experienced pool of talent
· Get more time to concentrate on your business
· You will get the apps with the most recent coding
· It is more cost-effective in the long term
Are you looking for a company with the ability to design tools that foster applications of IoT in business? At Israel IT, we boast of many years of experience in developing apps for small and large corporations across the globe. We are an offshore software development that has a package for every business regardless of its location.