I read an article recently in Forbes that said, “Data is the new electricity”. That really struck a chord because, in today’s world, it’s ALL about the data. Without data, we have no direction, no plan, no measurement of our success. We need the data, and today’s hardware and software help us get it. The Internet of Things (IoT) helps us make better, more informed decisions.
With access to data sets and the advanced capabilities of today’s devices, we can really differentiate ourselves from the competition when we put these resources to work. When it comes to connected devices, we think about our laptop or smartphone. But think about this: If we lose connectivity, we can still perform (albeit on a limited basis), but what about those critically connected devices that are helping save lives and keeping workers safe? It could literally be a matter of life or death if they lose connectivity.
Security of our Data
That’s where security comes in. By 2020, there could be as many as 50 billion connected devices on the internet, so security is going to be a huge priority in order for IoT to continue to be successful. The ways in which we generate data will also be a critical factor because in order to keep workers productive, more efficient, and safe we need to be able to access the right information from our connected devices.
Manufacturers like Honeywell, for example, are providing the market with tools that can maximize our capabilities, improve worker performance, and make reporting and analysis less cumbersome to manage.
The enterprise is facing increased competitive pressures every day. Warehouse, DC’s and manufacturing facilities are fighting to become more efficient and more accurate with the ability to increase capacity without increasing costs. Organizations are also looking for innovative ways to protect their supply chains from changes that will force them to re-develop software, update applications, and possibly even modify existing processes. They need solutions that have the flexibility to grow and adapt as their business grows.
Leveraging our Devices
Device connectivity brings so much value to your business. With all this valuable information, you can more easily predict shifts in the market, prepare for change more adeptly, and make decisions that will help drive future business plans. For organizations that choose to go the connected route, they will truly be able to differentiate themselves from the competition; driving success from their ability to predict behaviors and integrate functions that were once independent of each other.
The newly-found fame of connected devices opens up a number of opportunities for companies to re-examine their existing business model, develop innovative products and services, and eliminate the barrier that exists between the customer and the supplier. Gathering data from these devices, and then circulating that data through the organization results in more intelligent business decisions that lead to more innovative solutions that exceed customer expectations.
On a more tactical level, IoT can provide loads of support when it comes to efficiency. Asset tracking, for example, can offer a lot of value over a short period of time if the solution offers real-time access to information from virtually any device. Whether you’re in the equipment rental business, have a field service workforce, or even remote-office workers, the advantage of being completely connected means you have more control of your assets and the value of those assets as well. Consider maintenance schedules, for example. Having service information about each device at your fingertips can save hundreds of labor hours tracking down devices, looking up paperwork on the history of the device, and so on. Connectivity, in this case, offers extreme value in terms of labor hours and unnecessary expenses (replacing lost devices, etc.).
Want to learn more about the advantages of IoT for your business? Contact us today.