There’s little doubt that the Internet of Things is having a major impact on business and dismissing it means you will be left behind.
The Internet of Things (IoT) is more than just hype. It should be a key piece of an organisation’s digital transformation and can deliver significant value when it comes to competitive advantage.
The key business value of IoT is the insight and efficiencies that can be gained as a result of the communication between the increasing number of connected devices and other internet-enabled devices and systems. However, it’s important to remember that not every connected “thing” will add value.
This is why many industries have tried to make a distinction between consumer IoT and industrial IoT, which is solely focused on improving operational efficiency and business models. Industrial IoT includes things like machine learning and sensors that provide actionable intelligence.
Using this intelligence and existing machine-to-machine (M2M) technology, industrial IoT provides business value by increasing data accuracy and consistency. Industries like manufacturing and infrastructure began this transformation long ago and it is beginning to take hold in other sectors.
Organisations in these sectors have realised they can save time and money by eliminating inefficiencies in their business models while increasing their visibility into core business functions. With this new intelligence, you can optimise or even fundamentally change your business model to adapt to new opportunities and swings in consumer demand.
Here are four ways businesses can take advantage of IoT:
There’s little doubt that the Internet of Things is having a major impact on business and dismissing risks you being left behind. By undergoing the business transformation that gives a holistic view of all your technologies and data points, you’re likelier to achieve overall success.
Amit Rao, Director – APAC channels, NETSCOUT