Ever since the world noticed the third Industrial Revolution – or as it is commonly known – the Digital Revolution, there has been a rise in the use and application of digital computers and devices. This is where the age of Information had begun. This gave rise to the extensive use of the internet and digital devices. This is the major reason why there has been a considerable change in the way companies have been doing business for the past couple of decades. Change is inevitable. And with a change like this, it was then evident that the world was about to transform massively.
Internet of things (IoT) as a system, helped technologists to create a network of physical devices that were embedded with connectivity to ease the task of exchanging and transferring data. The most astonishing aspect of IoT that broke the stereotypes of connectivity between standard devices, was its ability to build a connection between devices that not necessary were Internet-enabled. This also allowed these devices embedded with technology, to be monitored and operated remotely.
IoT has brought connected devices in our daily routine. Its application is seen in our homes to control lights, security and connected appliances. Factories and manufacturing firms optimally use IoT for predictive maintenance and strategic planning. Restaurants and food outlets implementing IoT use it for better food storage while retailers are seen using it for smart payments. Needless to say that from smart homes to smart cars, this revolutionary technology has taken over the globe and its aspects very ‘smartly’.
IoT holds the promise to transform business environment
As the entire globe is transformed by this astonishing technology, businesses are not any different to be left out. With the rise of computer-driven processes and techniques, businesses have also adopted the idea with grace, in turn, simplifying their business processes and internal management. Businesses today are getting more proactive and it is more than essential for them to focus on the trends adapted and accepted by the market. A market that demands fast-paced results and in an environment where the employee safety and security are also of prime importance, businesses need to think out of the box, when it comes to delivering results faster also keeping in mind, the aspect of employee satisfaction.
This is where factors such as inter-connectivity, quick response, implementation of tasks without necessary human control, make things easier for businesses. The concept of connected devices, smart devices with in-built sensors and intelligently programmed tools can be a savior for businesses when it comes to improving the way time is managed and utilized, increasing the efficiency in delivered results, greater accuracy in businesses processes and most significantly, effortless and easy exchange of data and processes in the business environment.
How will IoT transform modern businesses?
Sooner or later, offices in developing and emerging cities will witness intelligence not only in business processes and personnel but also in ‘things’. Incorporation of IoT in workplaces helps bring to life almost all the entities of the offices, right from automatic doors enabled with sensors that open on our arrival, intelligent temperature control with respect to the weather outside office, lightening that can be programmed to go off in absence of employees and utilizing smart devices to time your meeting and set reminders for the day.
The most important benefit of implementing IoT for businesses processes is that it helps save resources and improve the efficiency of the companies by reducing the costs that companies bear for unused resources. This is made possible with devices enabled with sensors that keep track of office spaces to utilize them efficiently and optimally. IoT also lets businesses use data-enabled appliances to be used for automating most of the processes of the company.
With IoT, sustainable business is more than just an idea…
Sustainability is a very crucial aspect even when it comes to businesses. The rising scenario for environmental concerns and the need for energy conservation and sustainable approach is an expected behavior for businesses planning to stay in the market on a long-term basis. In other words, a business entity must be environment-friendly and sustainable along with the fact that it brings value to its customers and maximizes profit.
IoT eases this dilemma for companies with its smart solutions that ensure a workspace that is equipped with intelligent devices, appliances, and control. IoT-equipped offices would reduce global energy consumption and help with the implementation of smart lighting and thermostats for optimal temperature management. IoT also helps record and keep track of the devices used and ensures timely disposal of e-waste. This increases the productivity of the businesses. Continuous monitoring would ensure timely maintenance of devices and appliances as technical discrepancies can be predicted and tackled in time.
…creating a promising future path for business growth
IoT would not only digitize offices and workspaces but also assist business growth significantly. Recent trends and predictions state the rise in the implementation of the IoT and the probability of newer businesses to be seen incorporating major elements in IoT. The fact that IoT is globally accepted, it has boosted opportunities for innovations in several business processes. This technology provides easy access to data which could help business professionals analyze faster and improve problem-solving. IoT solutions are complex but multi-dimensional, that work in patterns in order to solve requests or act upon what has been sensed. Being a ‘smart’ and intelligent system, IoT allows businesses – whether large or small – to be efficient even when they are on their toes, ensuring that responses are provided quickly along with considerable accuracy.
Employees can seamlessly communicate data with colleagues helping them devote maximum time in work. There is a rise in the use of smartphones and smartwatches, which are being inculcated very smartly in the workspaces, to help easier data transfer and analysis. Businesses develop the ability to deal with crucial issues with the help IoT as a support system, enabling them to have a 360-degree approach when it comes to business growth. Increasing involvement of IoT in business operations can, therefore, lead to profit maximization as it could help identify and negate the loopholes in business models. Customers are the prime importance for any business. And, a business that keeps pace with the changing technologies adopted by the customers, successfully improves the customer’s experience.
Future of business transformation significantly relies on IoT
Implementation of IoT is the perfect fusion of workplace and technology. IoT, even at its naive stage, has created ruffles in various sectors and businesses providing a greater number of opportunities and there is a lot more to expect at this end. Future of IoT along with technological wonders like artificial intelligence can be brought together to create self-equipped business models and cut down human hours, multiplying the number of work businesses could produce. The transformation of cities, traveling, living, and connectivity into a whole new world of the smart and intelligent network would help create a closed world of faster results. This development is quickly becoming a crucial part of modern-day business, with customized offerings and a deeper understanding of customers and prospects which will help businesses grow bigger in even lesser time. Many big companies have started implementing IoT in their business models in order to inculcate the practice of being digitally equipped and futuristic companies. The IoT driven approach will possibly lead to sustainable and optimum business processes; the future of business transformation thus seems to rest on IoT.