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Actionable Data: The Proper Use of IoT in Businesses

Actionable Data: The Proper Use of IoT in Businesses

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Within a short span of time, the Internet of Things has made a stout presence in many businesses. The integration of IoT in business streamlines workflow and ensures efficient allocation of resources. So, many companies are switching to IoT solutions from standard solutions.

Collecting data from everything

Since the day of its inception, the primary goal of IoT has been collecting and analyzing information.

Just to make you aware, everything around us is emitting different amounts of data, most of which is not collected. The invention of smart sensors and connected technology has enabled us to connect and collect data from anything at any scale. Such technology is driving force behind connecting different devices to a cloud network.

Today, there are tons of IoT solutions in the market designed to streamline the workflow of any business, regardless of the size. The primary goal of such solutions is to collect data from different connected devices and store them in a single cloud repository. For instance: A car manufacturing company can introduce a system that monitors the life span of each product. When a car shows the signs of malfunction, manufacturers can pre inform clients about the problem and prevent it before anything critical happens. Besides that, the data can be analyzed to detect product deficiency and solve real-time problems.

Making Data Actionable

Time and again, we search for innovative IoT devices to support our business. But, most of the times we use such tools just to collect and analyze data. To receive exciting IoT benefits, businesses must predetermine their goals and use the real-time data to make an informed decision. Such data can provide invaluable information on budget optimization, efficiency improvements, resource management, and profit maximization.

Let us assume that your car is sending you a notification regarding the deficiency of rear tire. You would follow up with the service provider, call the company to send you a new tire, or send a message in outrage for the late service. Ultimately, all these steps pose a threat of human error and inefficiency.

Instead, what if your car could send a direct message to the manufacturing company. The company’s system then recognizes your message and puts your order in the queue, which is instantly forwarded to the manufacturer or service provider. The ticket is created on the other party’s schedule, and the service is provided on the same day. The collected data is later used by the manufacturer to detect the flaws in their products. And it’s not just vehicles; this technology can be used in different industries and different verticals.

Conclusion

Shortly, the IoT will offer great benefits to both businesses and consumers, but we must understand the proper way of implementation. It is the key to unlock the doors of unparalleled potentials and improve our existing processes. So don’t be overwhelmed by the initial benefits, but plan how to receive the ultimate reward.