What IOT(Internet of Things) means for every business

17 Aug, 2015

Technology

“Connected” is the new buzz word in the current tech trend. It is not a new word for us, but “Connecting” anything and everything has been the buzz. That is the true “Internet of Things”. When we talk about IoT, we get the pictures of gadgets, protocols and cloud.

We have been hearing and also consuming connected products in our day to day life for the last couple of years. I would like to talk about what this means for business.

What is the value that IoT can create in every business

• Enhance Product Differentiation
• New connected features
• Remote control and monitoring
• Seamless automated experiences
• Geo-fencing kind of easy ways
• Weather integrations
• Energy management
• “Smart” behaviours
• Deepen Customer engagement
• Direct customer facing applications
• Freq daily brand interactions
• New ways to interact 1-1 communications
• User customised experiences
• 100% customer feedback captures
• Enable new revenue sources
• Direct to consumer commerce platforms
• cross sell
• auto replenish
• Upset to other products and services
• Auto provision upgrades and new features
• New business models/reduced costs
• Supply chain, support and service
• Configure/add features at the time of shipment or upon user setup
• Field service auto diagnostics
• Predictive maintenance
• Product reliability tracking
• Service partner integrations
• Leverage new partnerships
• Integrate partners into IoT solutions
• Integrate relevant application software/API into solutions
• Cross promote products/services (Eg Apple Health, Runtastic, Argus etc)
• Value for the harvested data
• Capture high value insights
• Detailed user behaviour reports
• Spot usage anomalies
• User feedback based on context