Top 6 Ways IoT can Improve Your Business
Top 6 Ways IoT can Improve Your Business
Imagine a world where billions of devices are interconnected to the internet without human
action. An era of high digital intelligence where real-time data or information can be collected or
exchanged without any barriers.Unbelievable, isn’t it? Not actually. This growing internet
infrastructure called the Internet of Things(IoT) is a trending topic nowadays. So, can this
technology which is at it’s evolving stage can help our business to reap more success? Let’s
take a look.
Facts and Figures
Internet of Things is comparatively a new concept that was first coined at the end of the 90s.
Since then it has grown at a fast pace and now in 2020 according to the studies the Internet of
Things will connect 21 billion devices which were only 3.9 million at the end of 2016. Around
86% of enterprises increased IoT spending in 2019, says Forbes. According to the IDC forecast,
worldwide IoT spending will maintain a double-digit annual growth rate throughout the
2017-2022 forecast period and surpass the $1 trillion mark in 2022. These numbers prove that
there obviously some IoT trends in the business sector that is worth looking out for.
What makes all these businesses to lean towards IoT?
The answer is simple. Every business has one and only ultimate goal, that is profit. So, using
this interconnected network of devices (for businesses, this will be an internal local network or a
corporate network, which is connected to the internet) we will get real-time data or information.
Using this valuable information along with the help of Artificial Intelligence and machine learning
business ventures can engage in new innovations, boost efficiency and most importantly can
make better decisions that can lead to improved productivity, thus yielding high profit.
Here we are going to discuss 6 ways in which IoT can help you to improve your business.
1. Improves Workforce Efficiency
Implanting the IoT infrastructure can help a business in automating almost all its
operations. Also, it can replace a part of the workforce with smart devices. For example,
think about an office space where all the devices are connected to one monitor that can
control all the operations from lighting a bulb to security measures. This will improve
employee efficiency by giving them time to work in complex and creative tasks, thus
2. Reduces Total Cost
Nowadays, almost all businesses are facing a major problem- unnecessary expenses.
Through implementing IoT devices in office space corporations can make use of various
assets and resources more efficiently and in that way reducing the energy and
maintenance cost to a great extent. These days a large number of corporations are
going forward with the concept of smart offices hence executing cost-saving measures
like smart lighting and cooling systems.
3. Provides better Business Opportunities
Internet of Things gives businesses an opportunity to think and act beyond conventional
models. It’s enhanced communication scopes gives a chance to learn about customer
behaviour and thus a better customer understanding that helps to reach out to the
potential target audience. Using this advanced insights, a business can offer more
solutions and services this building a strong business-client bond that can increase the
4. Easy Coordination of Operations
In every business handling, a large volume of data or information ranging from employee
details to most confidential business deals can always affect daily operations. This
interconnected network of internal devices can assure better security. Using high-end
processors, smart sensors to CCTV and similar control devices you can guarantee 100%
fast and smooth functioning of daily operations without chores. For instance, in a virtual
office, one can schedule meetings without interference or conflicts that are common in
physical work stations.
5. Expanding Collaborations
With the introduction of IoT, the businesses will no longer need to make employees work
in the same physical workspace. They can make use of the possibilities of virtual office
space. This will give them the opportunity to work remotely or work from home with the
aid of technology. This can reduce capital expenses. Also, an employee can
communicate with a colleague easily whether he is sitting in the next room or on the
other side of the world.
6. Tracks and Improves Supply Chain and Logistics
IoT has a major role in increasing the total cash flow in a business venture. Using an
interconnected chain of monitoring devices, smart sensors, intelligent machinery, we can
boost the total efficiency from manufacturing to marketing phases. Smart sensors can
help in finding defects in the system and can replace them in real-time. Authorities can
track transportation and delivery using smart tags at any time any where. Also they learn
about market demand and identify popular products from various data market vendors to
increase the level of profit.
So, are you ready to integrate your company operations with endless possibilities of IoT? We
Tangent Techno labs are here to help you. We offer the following industry-grade plug and play
IoT devices with multiple cloud server options:
We are one of the growing startups in India working on product development in the automotive
and IoT domains. For more effective IoT services and solutions please check out our product