As we leap towards an intelligent society and industry, the Internet Of Things will be seamlessly integrated into almost everything- adapting, learning, and intelligently connecting. The palpable evidence of IoT, however, is not limited to things that connect to a network; but will eventually be realized in the business process itself, as an instrument for the evolution of business processes like improved customer experience and an enabler of future process management. This will automatically lead to an era of autonomous, intelligent connected systems that will help serve up the tools needed to enhance the customer experience.
With the rapid advances in the field of the Internet Of Things, it is quickly turning into a famous jargon and buzzword for people working in and around this field. Additionally, most researchers believe that with the rapid development of connected sensors and devices, the Internet Of Things is leading the world towards a new data revolution. Big Data analytics when combined with the Internet Of Things have found several applications in the development of smart cities throughout the world. From the prediction of traffic patterns to ensure smooth traffic flow to predicting accidents to smart healthcare processes, the Internet Of Things is quickly becoming the industry favorite.
The 21st century belongs to IoT, where it is seen as a medium to digitally interconnect devices for a seamless data integration between them. Internet Of Things relies on a peculiar identification number that comes embedded attached to an RFID connection that does not require any physical intervention between computers and humans.
Disruption is happening and a transformation of the business model in each & every sector is imminent. According to a report published by Gartner, at least 30% of the companies will use IoT as a major disruptor in their processes. As we approach the peak of the importance of higher profits, the Internet Of Things will take a central role in these new ecosystems. New streams of revenue, from delivering better customer experience to the safety of data, all fall under the one big umbrella of IoT. Here are the ways through which the Internet Of Things is impacting businesses all over the world.
IOT-powered tools like chatbots and other automated systems are helping enterprises improve their customer support resources, with visible effects on the bottom line. Chatbots can help deliver flexible and smart analytics through conversation on mobile or the website using voice-activated interfaces and standard messaging tools. This seamlessly collects data from the business users, thereby accelerating the feedback process.
Transformative healthcare apps are going to have a huge impact on the healthcare industry and the ways in which they utilize IoT. Internet Of Things will also offer clinical support to medical events as well as documenting those events in real-time. The data gathered from patients and their medical diagnoses can be used for improving the treatment to a greater extent. IoT also improves reliability, consistency, and predictability.
As cyber-attacks on the servers increase in frequency and hackers use more sophisticated tools to breach the defenses, rendering human operators futile; big companies are heavily investing in IoT to ensure data protection, mitigation, and real-time threat detection. Through machine learning, security experts can feed data and teach the IoT to monitor behavior, adapt, detect anomalies, issue alerts, and respond to threats immediately.
When coupled with customer data and analytics, IoT removes friction from the logistics and supply chain management in the company. It empowers businesses to act on customer data throughout their supply chain operations. Autonomous trucks and robot picking systems can further enhance the whole process to make delivery even in remote corners. Companies are also betting big on drones to make the process more efficient and faster.
As the world’s demand for more sophisticated ways to improve customer experience increase rapidly to become even more composite, more data-driven IoT frameworks have stepped in to simplify it on a global scale. And as the ability of IoT matures over time with rapidly evolving solutions, it will open up entirely new doorways of conducting business that can improve the quality of the services, improve operational agility, speed the decision-making process, and enhance the customer experience.
Connected devices like sensors on a delivery vehicle and other automated systems can help businesses improve their customer experience, with visible effects on the bottom line. This can enrich the customer experience by rendering real-time updates of their package. The IoT device will seamlessly collect data and communicate effectively, thereby streamlining the whole logistics process.
As we approach the peak of the importance of higher profits, IoT will take a central role in these new ecosystems.
In order to speed up the delivery, all companies need to predict the approximate number of goods their customers will demand. A business can also incur losses if the demand exceeds supply. IoT-based tools collect large sets of data to predict such things better than a human analyst. On the basis of past data, IoT provides a detailed analysis of all the factors that can be used to further communicate with the customers which can help strengthen the relationship with the customer.
Besides scrolling through the tedious comments on social media to check feedback left by customers, IoT can accurately predict if the customer was satisfied with the product by intricately studying their usage patterns. A business can also figure out the products their customers are most attracted to using the data pattern. It’s imperative to have a transparent and informed approach to have more personalized communication with your customers.
The opportunities of IoT solutions are virtually limitless and have already permeated a wide variety of sectors around the world. As the IoT continues to expand, offering a host of previously unimaginable capabilities, businesses will be able to efficiently manage and streamline their processes to improve customer experience. Disruption is happening and a transformation of the business model in each & every sector is imminent.
If an enterprise wants to outrival or conquer new markets, the time to invest in the Internet of Things led solutions cannot be riper.