How IoT maximizes enterprise productivity

The Internet of Things, or IOT, is one of the most critical technologies that determine the future of businesses and consumers. Even today, more than 127 new IoT devices are connected to the Internet every second. Gartner predicts that by the end of 2020, more than 20 billion IoT devices will be used jointly by enterprises and consumers.

More importantly, the development of the Internet of Things is an important part of the digital transformation of enterprises. Have you missed IoT development? If so, it's time to wake up and learn how IoT devices can make your business processes more efficient and ready for the future.

How IoT maximizes enterprise productivity

To help you understand this, here is a guide on how to use IoT for business opportunities:

Find the right questions related to the business

As Maciej Kranz, author of the book "Building the Internet of Things," says, the main goal of the Internet of Things is to solve business problems, not to deliver a cool project or new technology.

Gaining a competitive advantage in IoT development shouldn't be just to make customers or consumers see cool new technologies. It should be to find use cases that can improve the quality of service or product functionality.

So how do you find the right questions related to your business and the IoT case used in your company?

Here is a simple example of how global mining company Rio Tinto uses predictive maintenance using IoT sensors and equipment to avoid losses of up to $ 2 million per day.

Rio Tinto uses more than 900 large trucks for mining. These trucks need to run for a long time every day in order to mine in remote areas. Due to the long running time, these trucks are prone to failure during work. Such failures can lead to huge revenue losses for Rio Tinto, especially in the event of an accident.

To solve this problem, Rio Tinto uses a large number of IoT sensors installed on all of its 900 trucks. These sensors are constantly checking for any damage to the components that may cause the malfunction. (Source: IOT Home Network) When the sensor detects anything that could cause future failures, managers will receive an alert reminder, and they will take timely measures to repair the affected parts.

This is a great example of predictive maintenance through the Internet of Things and a clever way to avoid Rio Tinto from millions of losses due to unexpected failures.

Examples like this highlight how companies envision the intelligent use of the Internet of Things, which seems very simple, but offers incredible benefits. The following checklist can help you identify similar business opportunities with the Internet of Things:

Try to identify problems or obstacles in the service / product, thereby reducing unnecessary costs / wasting time.

Once you have identified these issues or obstacles, write them in your notebook or wherever you want to keep your notes.

Now think about how the Internet of Things can eliminate or weaken these obstacles / problems. For example, if you have a product-based business, consider how IoT sensors and devices can be used for predictive maintenance, data tracking, collection, or transmission.

If you have a service-based business, consider how the Internet of Things can collect information on other electronic devices through automated delivery, or help your business learn more about potential customers through data analysis and other means, and help you get faster and more effectively Serve customers.

Benefit from IoT analysis

Although many people advertise the Internet of Things as a technology that is about to change the world, it is not a revolutionary technology like artificial intelligence or blockchain. The core of the Internet of Things is a link that connects different technologies together.

In doing so, these aggregates that make up the IoT create results in the form of valuable data that can be used by businesses and consumers. This is probably one of the biggest benefits of the Internet of Things: these data outcomes are used for other purposes such as software development and machine learning solutions.

If you plan a comprehensive digital transformation in the near future, IoT development is the best starting point. Not only can you take advantage of the benefits of IoT sensors and devices, but you can also generate large amounts of data (IoT analytics) for predictive analytics, artificial intelligence, and various other use cases.

Start with easy goals

Using the Internet of Things in your business does not necessarily mean you go all out and use it throughout your business processes. One thing about development is that specific approaches are not suitable for all types of businesses. Also, if you are a small business or a start-up business owner planning to use the Internet of Things, you may not have the luxury to invest in research and development as many large companies do.

Instead, you should try the simplest use case for IoT devices and extend it. The true charm of the Internet of Things lies in its large-scale application. You can start with simple things like automatic lighting of the Internet of Things in the bathroom of the office, and then install IoT sensors to analyze the production speed in the various processes of the product assembly factory. Complicated things.

In many cases, the success of implementing IoT on a small scale can give you the confidence to scale up, then apply the same principles / methods throughout your business, and increase your revenue tenfold. That's why Cisco makes its factories energy efficient. (Source: iothome) The company's factory in Malaysia uses IoT sensors to detect devices that cause higher energy consumption. Using existing data, Cisco can save approximately 15-20% in energy costs. The successful implementation of IoT sensors in one plant has prompted the company to do the same in other Cisco plants worldwide.

Finding Partners for the Development of the Internet of Things

For most people, the pace of technology development in the 21st century seems surprising. However, the core reason behind this rapid growth is not only the wisdom of a few successful people, but also the cooperation and competition between countless companies and governments that have promoted innovation.

That's why you should look for IoT development partners to find the best use of IoT across your organization. As MaciejKranz said, "Lone Wolf won't succeed on the Internet of Things, it's a team sport."

So the best step in your journey to make your business better is to work with others. (Source: IOT Home Network) Shared expertise can create stronger alliances, and stronger alliances united for the same reason are an important force leading any competitive market.

Key takeaways

IoT development can provide incremental advantages to any business organization as long as they take into account the following factors:

There is a business problem that can be solved through the Internet of Things.

Recognize that the Internet of Things is not a separate technological advance, but a foundation-a foundation for integrating all other advanced technologies.

Try to build and implement the simplest possible use cases with IoT sensors and devices, and then gradually scale to large-scale deployments.

Stand out from the competition by sharing experience and expertise with others.