Harnessing the Potential Of IoT To Drive Businesses
Posted By : Anmol Kalra | 26-Oct-2021
Technology plays a significant role in shaping business growth, disrupting industry verticals, and providing the catalyst for business modernization – optimizing the business operations, engaging their customers, empowering their employees, or upgrading the products.
IoT and Analytics platforms transform businesses with their rich capabilities to gain quality insights through connected data-driven solutions. Microsoft Azure is one of the platforms, which is helping enterprises in this revolution through Azure IoT and Analytics Services.
There are already more than 20 billion IoT-connected devices worldwide, with figures from Statista projecting the figures to increase to 30 billion by 2022 and more than 75 billion by 2025. With such a huge-scale conception, it should come as no surprise that it’s not just large corporations that can obtain the benefits and drive business growth by leveraging the Internet of Things, but SMBs and early-stage startups, too.
In fact, by embracing IoT, various small- to medium-sized enterprises across a wide range of sectors can execute strategies to improve operational efficiency, reach new customers, drive down costs, and increase profits.
Also Read:- Blockchain and IoT: How trusted and distributed data is empowering IoT
Let’s have a look at how IoT and Analytics are enabling Enterprises in driving business growth.
Real-time Critical Systems Management
With the help of interconnected IoT assets, companies can capture massive amounts of real-time data to help track assets, products, and daily operations. These insights can further help remote asset monitoring, real-time supply chain visibility, security, and fraud detection, which can be translated into better operations for the organization. Analysis solutions built around real-time data use machine learning technology to further help companies realize intelligent business operations and predictive analysis.
Improving Customer Engagement and Experiences
Not only do IoT devices can connect and "talk to" one another, but they also gather data. This valuable data, i.e., Big Data, can be turned into insights, allowing businesses to understand their customers and preferences better and provide more opportunities to personalize customer engagement.
For example, geolocation beacons can increase local businesses' visibility to the customers closest to them, and those businesses can then push targeted advertisements and marketing messages to customers, alerting them to personalized offers and deals when in or out near a store.
Extended Business-Critical Operations on Mobile platform
Companies are using the Enterprise Mobility platform to access critical information in real-time from anywhere via handheld devices. Cross-platform mobile applications integrated with IoT and analytics-driven cloud solutions provide real-time insights into mobile devices.
This data is helping companies and their consumers make better decisions in real-time. For example, cloud-based smart metering solutions built around water meters are helping utility companies and their customers to obtain real-time water consumption data. The system is helping customers make the right decisions to achieve efficient water use.
Automated Work Management System
Although automation forms the backbone of most industries, it can be significantly improved when optimized using analytics and the Internet of Things. It can pave the way for major improvements in the working environment, such as remote field force connections.
For example, smart IoT devices can be used to reduce energy waste, and these devices will draw attention to such situations.
IoT solutions can even predict when the system may fail, thereby reducing the need for employees to shut down the system for maintenance manually. In addition, the Internet of Things and real-time analytics can help create a central data repository, which can inform the identification of problems.
Oodles Technolgy combines IoT assets with Microsoft Azure services and drives analytics through Azure Machine Learning solutions. Azure IoT Suite offers a hub of services to connect, monitor, and control numerous IoT devices.
Likewise, data-based real-time and predictive analytics formulated through ML solutions are benefitting Enterprises with informed decisions. Take advantage of IoT Analytics experts to securely connect IoT assets, analyze critical data, and present insights to the customers – in the way to drive business growth.
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