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How Will Internet of Things Transform Businesses

How Will Internet of Things Transform Businesses

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The Internet of Things is changing much about the world we live in. From the way we drive to how we make purchases, and even how we get energy for our homes. It is the common Internet of Things platforms that brings this diverse information together and provides the common language for devices and applications to communicate with each other.

Sensors and chips are embedded in the physical devices that surround us, each transmitting a large quantity of valuable data. This data allows the users to better understand how these devices work together. The process starts with the devices themselves, which securely communicates with Internet of Things platform. This platform integrates the data from many devices and applies analytics to share the most valuable information with the applications that address industrial specific needs.

Internet of Things is Just Getting Started

Here’s the bitter truth. IoT had a rocky start and its adoption rate was much lower than what was predicted!

However, IoT has grown by leaps and bounds and many industry specific companies have integrated IoT into their system. Most experts agree that IoT is the next generation in the modern industries, and the companies who will learn to harness the data accumulated by IoT will be the ones who will survive in tomorrow’s cut throat market. It is still a mystery that whether or not it will reach the predicted 50 billion connected devices mark until 2020, but it’s certain that IoT will encompass a spectrum of companies that belong to different industries.

We believe that with IoT businesses can escalate from their current position and reach the pinnacle of success within a short span of time. Here are three smart moves that businesses can make by integrating IoT into their system.

Manufacture Smarter Products

Gone are the days when mobile phones were only used to make phone calls. In this era, people expect much from their pocket companion. The recent innovations in smartphones have allowed the users to carry a digital device that can place the news of the world in the top their palm.

Initially, it might seem worthless to own a smart yoga mat, smart cooking appliances or a smart furniture. But, what if the data from these products could make your life easier. Imagine, if you can get an early alert in your smartphone before your cooking gas goes rogue. You can call someone to look over it before something critical happens. It will help you to save your time and money.

Undoubtedly, the companies with smarter products will hit the big time compared to others that are taking a step backward to adopt IoT. These inter-connected products will allow the user and the manufacturer to inspect issues with ease. As the generation is swiftly headed towards a digital age, integrating IoT will be more than just a plus point for both manufacturing companies or business houses.

Smart Business Decisions and Operations

The best part about Internet of Things is that it transcends the boundaries of creating just smart devices. These mini chips can be embedded on anything, from an ice-cream cup to huge freezers. The chips are used to record and send data to the manufacturer database. This will enable businesses to gather more feedback on how their products are being used. Manufacturers can articulate the data and determine what their users might want from their products in the future. This allows them to create user specific products based on the customer requirements.

Helps Businesses to See the Bigger Picture

The most important and crucial advantage of Internet of Things is that it allows the businesses to leverage their sources, and inspires them to advance with the technology. And, businesses who are not willing to integrate IoT into their system might be knocking the wind out of themselves.

In 2012, a tractor manufacturing company named John Deere added data connectivity in their equipment. This has helped farmers worldwide to determine the best route while ploughing while giving information to farmers about which product to farm in specific seasons. Within a short span of time, John Deere have taken their place as the best tractor manufacturing company in the world.

Integrating IoT doesn’t only mean to adopt what other are doing. It means growing with technology and adopting the most beneficial innovations that suit your business.