What Business Should Know about the "Internet of Things"

Posted by admin - Feb 13, 2018, 4:40 PM

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You’ve probably been hearing about the “Internet of Things” for years now. Trust us when we say that one day soon, we won’t be talking about the Internet of Things, we’ll just be talking about the way things are.

Here’s what businesses – new and old – need to know about IoT.

 

What It Is

The IoT as a concept has been around for a long, long time. It essentially refers to an increasingly connected network of devices and products. Today there are tens of billions of connected devices in action, from smartphones to FitBits to electronic baby monitors, all changing the way we live and work.

 

Why it Matters for Business

Businesses are right in the middle of an IoT revolution. What the internet did for businesses 30 years ago, the internet of things is doing now. In less than a decade, businesses that chose not to invest in the IoT capabilities of their operations will be kicking themselves, wondering if it’s still possible to catch up.

That’s not hyperbole. Connectivity is fundamentally changing the way businesses operate. It’s automating processes that have been analog for decades or more. It’s optimizing relationships between clients and the businesses that serve them. It’s opening avenues of data that can be used to manage, grow, and pivot existing companies.

 

How Can Businesses Use IoT to Their Advantage?

There are dozens of ways businesses can utilize the functionality of one, two, or three hundred connectivity points. A few of the most pronounced include:

Data Capture & Analytics: When everything’s connected, everything talks. Tablets tell the inventory system how many new products to order, and customer downloaded apps tell corporate how consumers are interacting with the brand. The data gathered through the IoT is invaluable for determining the next phase in a business’ lifespan.

Consumer Experience: IoT deepens business’ relationships with their customers, one interaction at a time. Well-connected consumers can track shipments, chat remotely with customer service, and receive information specific to the product they’re using and the activity they’re using it for.

Process Improvement: Internally, the internet of things can drastically improve processes by reducing waste, automating functions, and optimizing planning. Employing a network connection strategy company-wide can produce serious ROI for even small to mid-sized businesses.

The internet of things is a growing, nebulous organism. It’s not one thing, exactly, but the idea that everyone and everything will eventually be connected through the internet. We’re not there yet, but we’re getting closer every day. Businesses are leading the charge.

 

Are you confused about how IoT connects to your business? Maybe you don’t understand how better “connectivity” could help you, or you’re skeptical of the value-adds of automation?

The team at It-HenHouse is here to help. Reach out to our friendly crew for a plain-speak conversation about what IoT technology could mean for your business. If you’re not keeping up, you’re missing out.

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