In recent years, technology has progressed in leaps and bounds, with changes in the way we work driving a new era of innovation. In the world of business, this pace of change means there is more opportunity than ever for growth, better connections with customers, and improved business productivity. Technology can support new and more efficient ways of operating in ways that were previously not possible.
One new way that technology is transforming business is through the Internet of Things (IoT). Businesses have a lot to gain from the adoption of the IoT, like optimised product development, increased customer options, and an advantage over competitors.
The Internet of Things explained
So, what is the Internet of Things? The IoT refers to objects or items that typically aren’t connected to the internet, but are now capable of communication with a network that collects or shares data.
And how does the IoT work? These objects or items are embedded with technology like sensors or processing systems that autonomously share information from almost anywhere there is connectivity. This covers a wide scope of devices, and could be anything from a temperature sensor to a car.
How businesses are using the Internet of Things
Businesses ready to embrace the innovation of the IoT can benefit from increases in revenue, more effective business processes, and better connections with customers.
See for yourself how the Internet of Things helps businesses work smarter.
Optimised customer service
IoT allows for a clearer measure of the customer journey, which helps you when it comes to providing better customer service. Enhance your supply chain and get customers their purchases much faster with data that tells you things like how long delivery takes. You can also get accurate, real-time information about what’s really going on through things like tracking devices, so you know right away if anything will arrive late and can inform the customer ahead of time.
[H3] Quality control through temperature and moisture sensors
IoT devices can monitor the environment of your workplace. For example, in the world of hospitality, restaurants can implement sensors for refrigeration maintenance and save money with less food wastage. Or, in manufacturing or food processing industries, moisture control systems can keep things at the ideal environment for products that need to be made or developed under specific conditions. There’s even benefits to office workspaces, where accurate and dynamic climate control can save money when it comes to utility bills.
Greater understanding of product performance
Some IoT devices are equipped with sensors that give insights on how a product is performing – for example, a piece of farming equipment. The data shows patterns of inefficiency, as well as how and when a product is likely to fail. That way, things can be swapped out before they cause an issue, and reoccurring problems are fixed fast. For products and equipment in farming and manufacturing industries, wear and tear can be tracked so that operations managers can arrange necessary repairs or replacements. This has the potential to improve the workplace safety of these environments.
Increased security
IoT also provides businesses with affordable and enhanced security, including automated control, proximity unlocking, and biometric systems. Smart locks enabled by Bluetooth or Wi-Fi can help reduce the cost of replacing lost keys.
IoT security cameras that connect over the cloud can allow for unlimited storage, providing a better alternative to on-premise systems that record over themselves every few hours. AI with instant analysis can monitor the footage and immediately send out alerts in the face of a threat, or simply use facial recognition to identify you and permit access.
Why are more businesses using the Internet of Things?
The IoT has been around for a while, so why is it only taking off now? Because of the huge strides taken in tech over the last few years, the level of connectivity needed to support the widespread use of IoT is finally available. Faster internet with better bandwidth means it’s able to handle more, making it easier for businesses to make the most of the IoT.
Get connected with TBTC Victoria East
Are you ready to leverage the IoT in your business? Talk to our team to make sure your connectivity is ready to make it happen. With a Connectivity Audit, our technology advisors can help identify ways to get your business connectivity ready to support the IoT. Let’s get solving.
