Internet Of Things

IoT - Internet of Things

Technology is Accelerating

Internet of Things, simply, is the connection of every object on earth. But what does this connection mean as far as your business is concerned? The very essence of IoT is ‘transforming things into connected services’. According to Jehangir Mohammed of CISCO, this transformation entails three applications: a new business model, a new technology, and a new role for IoT. The transformation is so amazing in terms of end users’ value that it is inevitably going to change the economic model for the customers.

IoT for business is the journey from an unconnected product to a connected service.

Key Business Advantages of IoT

• IoT is replacing a product with a relationship. As a business, you are looking forward to maintain a relationship that has the potential to last for a lifetime if you do it right.
• The operation of the company will become tremendously automated. Automation is going to pervade just about any and every business.
• You get to continuously delight your customer over and over again. Each time you delight your customer, there are better chances for revenue generation. It becomes a repeated recurring income.

IoT Touches Everything

Businesses are moving, whether you are a part of the process or not. Whether you own a store that you want to optimize or a manufacturing plant with machinery that needs to connect with each other, or even handling your back-end operations, all of this depends hugely on secure data delivery and service management to monetize your application of IoT. One of the fundamental capabilities that decision-makers need is to personalize the customer experience. Customers now expect a personalized experience in just about everything, whether retail, consumer stores, or luxury services. IoT makes it possible to provide a consistently personalized experience to a large number of customers. By 2020, 1 million new things will be connected every day to the internet, impacting your business rapidly. This is a move from a component-based thought process to a system-based one.

Smart Products

Internet of Everything is the new wave, and people will want to join because literally ‘everything’ can be connected to the Internet. Products can communicate, interact, and perform tasks based on consumer preferences. Businesses resistant to this connectivity risk falling behind in competition.

Smarter Services

The IoT revolution is not just about products, but about the facilities wireless sensors embedded in products provide to customers. IoT captures consumer relationships and allows businesses to work on them for long-term engagement. Consumers will expect seamless connectivity among the things around them.

Smarter World

IoT will not only change how businesses operate but also transform expectations of how ‘things’ behave. Just as unconnected desktops now seem obsolete, manual driving will soon be outdated. Markets and business models will experience dramatic changes. IoT is considered the 4th industrial revolution, and businesses need to be prepared for this transformation.