The vision of a connected smart world is becoming a reality. Technologies are dynamically transforming the world we know. IoT is one of them. Ever since 1999, it has been slowly changing our lives. Big organizations are tapping into the brilliance of this technology in their product and services to optimize growth.
Consumer adoption of IoT is limited to high-speed internet provided by companies like Charter Spectrum, smart homes, smart devices, etc. However, it does not depict the opportunities of IoT enterprises. The type of solutions it offers to enterprises is increasing customer satisfaction, improving operational efficiency, reducing costs, and offering a competitive edge.
Have a look at the profound ways IoT is assisting enterprises in achieving operational efficiency and reaching new heights of success:
1: Optimal Use of Energy and Increasing Sustainability
Thanks to IoT, 25 percent of expenses on energy can be saved. This technology has made it possible to create sustainable and energy-efficient workspaces. Sensors are used for calculating the strength of people in the room and adjust the lights and temperature in each room.
Lights and temperature can also be adjusted remotely. Sensors can also help save thousands of dollars in building maintenance expense by detecting gas and water leaks. This investment may seem significant in the beginning but it can save so much in the long-run.
2: Tracking of Assets and Inventory
Some enterprise IoT solutions can also help you track assets like equipment, vehicles, and other devices in use. Knowing where the equipment is can save so much time. It could help a nurse hunt down the machine/device needed to save a patient’s life.
Assets trackers can also prevent theft and improve employee productivity. In hotels, using a sensor network, the staff can identify the luggage, room service food trays, housekeeping carts, and other essentials.
3: Improved Security
IoT sensor networks are also ideal for increasing the security of a building. Using these smart devices, hotels can detect trespassers, check the water and air quality, monitor cleanliness, and do so much more. This technology can help build an environment that’s compliant with all the health and safety standards for your staff as well as customers.
4: Excellent Customer Experience
Every business wants to bring value to its customers. With IoT analytics, sensor networks, facial recognition, and other technologies, an organization can understand its customers’ habits and behavior. This would help them target their marketing campaigns accurately and make the best business decisions.
Imagine delivering your customers just the products and services they need. This would boost your bottom line significantly and reduce customer retention.
5: Optimal Resource Utilization
IoT enables companies to practice optimum utilization of resources starting from the capital, stocking capabilities, equipment, labor, raw material, and more. The use of IoT is not just limited to sensor applications. It can also be used for monitoring different parameters, which play a significant role in reaching operational efficiency.
6: Smooth Logistics
Internet of Things has several solutions to offer to the transportation and logistics industry. It can help in creating a bulletproof supply chain to boost the efficiency of the company. It can also be used for solving problems in the warehouse and the distribution centers and improve the supply chain on the whole.
Where to Begin?
Are you ready to implement IoT in your organization or business? Great! The implementation doesn’t require using the newest tech. Depending on your industry, product, or service, you may not need the latest tech at all. So, there is no harm in using old tech. It will help you implement IoT yet stay cost-effective. Don’t use the latest tech until it is required.
The implementation doesn’t have to be massive. Start with the basics. Once you have successfully scaled a project, move to the next level. Make the non-smart processes smart and leverage the benefits in the form of increased productivity, better customer experience, more sales, and revenue growth.