4 ways IoT technology can improve your business

internet of things

The internet of things (IoT) has given businesses greater insight into their organization and helped them discover ways to root out inefficiencies. In fact, data scientists were forced to adjust their prediction of data growth in 2020 from 40ZB to 44ZB because of the introduction of IoT technology.

Defining IoT is quite difficult, as there are many applications to it. Essentially, IoT devices are smart devices that are connected over central network. Whether it’s tracking boxes from location to location or the speed of a belt conveyor, IoT technology grants businesses more visibility over the general processes of their organization.

According to an AVG study, 57% of businesses think that IoT will provide significant benefits for their business. Here’s some reasons why.

Big Data

With the ability to track basic processes at your organization, you can optimize procedures to prevent downtime and improve efficiency. Smart devices and analytics can be employed to track and identify patterns in customer behaviour to help optimize the buyer’s journey. Beyond this, data can be shared across all of your organization eliminating silos and allowing for greater collaboration of tasks. Mainly, IoT devices furnish you with pertinent data to optimize your workflow.

Increase Efficiency

Harvesting big data can help you better understand buyer behaviour, as well as operational inefficiencies that are impacting your bottom line. In terms of data analysis itself, smart devices and analytics tools allow you to parse and organize data in a much more efficient manner. The uptick in speed alone will increase efficiency and the more insights you can uncover, the more precise your operations can become. Whether it’s reducing missed deliveries or improving the rate of production at your company, this all amounts to increased customer satisfaction.

Track Everything

Inventory management is a new field of software that’s being developed on the back of the IoT revolution. Remote scanners and embedded devices can track inventory and alleviate a tremendous amount of labor at your organization, allowing employees to focus on other tasks at hand. This will also reduce manual mistakes and ensure that inventory is always properly accounted for.

Track Remote Workers

Aside from being able to track your inventory, IoT and PaaS technology now even allows companies to track remote workers and fleets. Connect each device to track remote employees and monitor their productivity. Remote work is a huge employee perk and one that can finally be properly managed.

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