If you want to connect to the internet, what is the first thing that you should have in your hand? Computers? Mobiles phones? Tablets? If you think you can’t do without any of this, then jump into the inviting world of IoT.
Under IoT, any physical object can be brought online and it can communicate with other machines! It can send and receive data over a network. The concept of physical objects communicating with each other over a network is called as internet of things.
Before the advent of IoT, only humans were active participants in business processes. But now any physical object can be integrated with the information network and they can also have a bigger say in business processes. The communication between physical objects is possible with the help of RFID Tags implanted in it. These tags enable the objects to be monitored and controlled over the network from a remote location.
Now lets us go into how can internet of things help businesses in the future:
- From internet to IoT-Transition will be smooth and natural
As IoT is exploding, small businesses are worried that it will make their services obsolete and junk. But the reality is different. Chances are there that your business will flourish along with it. The situation was same 15 years back when Information Technology hit the world. People were scared that it will snatch the opportunities from smaller business entities. On the contrary IT helped them.
All what you have to do is to adapt to changes. That change won’t happen overnight, so you don’t have to worry. Chances are that you might have already started adapting to those changes, slowly and unknowingly.
Nowadays people are investing in mobile devices, wireless and Bluetooth technology, virtual servers, cloud storage, analytical software. This shows that they are accepting the changes around them. So walk along with the pace of IoT.
- Enables companies to make intelligent devices
Till yet there were many efficient devices in our world but they were working individually. Now IoT allows them to work in cohesion under a connected network. Till yet, our phones were used to make or receive a call, but now with the birth of IoT, you can open the lock of you house without keys sitting in your office as your house lock will be connected with your phone.
The curtains of your bedroom will become so smart that you don’t have to withdraw it in the morning for the sun rays to come inside! The plants of your farm will become so talkative that they will instruct you on your phone when to water them!
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- Business processes can become more efficient
Till yet computer and internet were solely dependent on humans for data. Wherever data needs to be entered, it requires human interaction. The problem with human interaction is that it brings along with it n number of related issues such as, lack of time, focus, attention, accuracy. With humans it was difficult to catch the real data in the real world.
Such data were not good for deeper analysis and hence decisions processes were getting delayed. Analyses based on inaccurate data were not delivering the desired results.
Under IoT, computers will know everything about the things in picture. Using such pure date (captured by machines), we will be more comfortable in keeping a track and count real numbers. Henceforth waste, cost and loss can be greatly reduced.
- Sensor and Bluetooth technology will dominate
If there’s one thing which is going to skyrocket IoT in the blue, it’s sensor and wireless technology. Sensors will be programmed to sense anything from the taste of your coffee to stress in the concrete formed due to overload on the bridge!
It can sense anything in the environment and send the relevant data on the internet for analysis and further due action. It can sense the location of any object, its changing behavior, its temperature and other things as programmed by you.
So the future is all about your imagination to make out where, when and how those sensors will be implanted. If you can sense it appropriately, the IoT world will be yours!
- Offers Profound business opportunities
Industry experts are singing Corus that IoT has opened the door for thousands of new business opportunities. So it’s up to you how you tap those opportunities. Opportunities are unlimited -from enhanced customer satisfaction and customization.
The most important business capability to be developed for future business is to read and address threats, needs and demands in the environment in real time. Precise and compelling forecast & business process optimization are other future opportunities where you can emphasize.
- Consumer behavior will be greatly changed
Apart from the smart coffee making machine & Rolls Royce Aircraft Engines, IoT sensors are also going to read consumer taste and preferences in real time! Consumers own the power to vote with their feet and wallet! They can either make or break your business.
With the real time data going on their smart phones & social sharing buttons floating on their screen they can take your future either way! So you have to take care of their choices as they have become more powerful and aggressive with the Bluetooth technology 4.0 and upcoming IoT series! Don’t get scared; smart consumers laced with latest IoT weapons will do more good to your business! Focus on personalized services.
Lot of my loyal readers wants to know about how does Internet of things work? In my next post I will come out with it.
And yes please don’t hesitate in sharing your valuable insights with me. Go down in the comments section and share your views. You can also come out with your doubts and queries there.