{"id":1097,"date":"2019-12-10T07:27:34","date_gmt":"2019-12-10T14:27:34","guid":{"rendered":"https:\/\/www.vanitymobileapps.com\/blog\/?p=1097"},"modified":"2019-12-10T07:27:34","modified_gmt":"2019-12-10T14:27:34","slug":"5-pivotal-areas-of-opportunity-for-business-iot-applications","status":"publish","type":"post","link":"https:\/\/www.vanitymobileapps.com\/blog\/internet-of-things\/5-pivotal-areas-of-opportunity-for-business-iot-applications\/","title":{"rendered":"5 Pivotal Areas of Opportunity for Business IoT Applications"},"content":{"rendered":"\n

Applications of the Internet of Things (IoT) are already\nextensive but continuing to grow and evolve rapidly. The more than 17 billion (and\ngrowing) connected devices are only a part of what makes the IoT so powerful.  What truly makes IoT powerful is the ability\nto take simple devices and connect them in a way that allows for their\noperation to be controlled, monitored or adjusted over an Internet connection.<\/p>\n\n\n\n

\"IoT<\/figure><\/div>\n\n\n\n

When it comes to business applications of the Internet of\nThings, there is an opportunity to integrate nearly every facet of a business\noperation. Businesses are now able to bring valuable data in real-time to\ndecision-making from assets that were never thought of as being data sources. With\nall of this data currently available, it is essential that businesses are\nleveraging it to remain competitive or to gain an advantage over competition\nthat is slow to adopt new technology.<\/p>\n\n\n\n

Many companies are already making extensive use of networked\nproducts and sensors for a wide variety of reasons, such as to streamline and\nimprove manufacturing processes, tracking and monitoring shipments, or just making\nmore informed decisions.<\/p>\n\n\n\n

The use of custom-designed\nand built IoT solutions<\/a> can help businesses reduce costs, improve\nefficiency, and, in general, gain a competitive advantage.<\/p>\n\n\n\n

Looking to the near future, there are 5 pivotal areas that\nbusinesses can look towards for Internet of Things opportunities to propel\ntheir business forward and get a \u2018leg up\u2019 on their competition.<\/p>\n\n\n\n

Consumer Behavior <\/strong><\/p>\n\n\n\n

Massive improvements in computing power and data storage\nalong with advancements in data analytics have propelled the science of\nconsumer behavior. Now businesses are able to run highly targeted ad campaigns based\non consumer interests and online activity. This data is additionally quite\neffective at helping businesses upselling and cross-selling at the point of\npurchase.<\/p>\n\n\n\n

Businesses can now keep track of the exact place on a mobile\napplication or web site where consumers click. Coupling this data with\ninformation on the screens and pages that consumers have visited, gives\nbusinesses a great deal of data that can be used to create personalized offers\nand discounts that are much more likely to be responded to by consumers.<\/p>\n\n\n\n

By utilizing this information businesses can create more\npersonalized and relevant experiences for their customers. A better\nunderstanding of consumer behavior can increase sales and customer loyalty,\nbest of all, this type of activity can be utilized by practically any type of\nbusiness to gain a better understanding of consumer behavior. <\/p>\n\n\n\n

Customer Experience<\/strong><\/p>\n\n\n\n

Creating exceptional customer experiences is more important\nthan ever.  With modern IoT applications\nand sensor networks, analytics, etc., you can now better understand consumer\nbehavior and habits that will allow you to be able to create improved customer\nexperiences. These improved customer experiences can help accelerate future\ngrowth and create serious advantages over your competition.<\/p>\n\n\n\n

You can utilize this information for something as simple as\nsending highly relevant communications to customers. For instance, you can\ncreate groups based on behaviors and let your marketing team know to create relevant\nmessages based on the data. As an example, if a group of customers isn\u2019t\nutilizing all of the features of one of your products, you could send out an\nemail to them highlighting the unused features.<\/p>\n\n\n\n

With IoT solutions, you can improve customer experience by\nproviding the right information, products, and services at the right time. <\/p>\n\n\n\n

New Products<\/strong><\/p>\n\n\n\n

The data that you gather from the usage of your products can\nalso be used to develop new products as you move forward. You can utilize the\ncollected information to evaluate products and determine the parts of your\nproducts that can be improved upon.<\/p>\n\n\n\n

Following this process, your business can optimize the\nperformance and reliability of its products and design even better products\nthan you are currently offering. By using the Internet of Things to improve\nyour products, you can significantly improve your customers\u2019 satisfaction and\nimprove customer retention. <\/p>\n\n\n\n

Assets and Inventory<\/strong><\/p>\n\n\n\n

IoT solutions are an excellent way to keep track of your\nbusiness\u2019 assets; this includes inventory, vehicles, machinery, office\nequipment, etc. The Internet of Things can even help you monitor your trash and\nwaste.<\/p>\n\n\n\n

Sensors can determine the optimum time to order additional\ninventory and help reduce your business\u2019s need to carry large inventories.  Knowing where each piece of equipment is can\nsave employees a great deal of time and improve efficiency. Asset trackers can\nalso help to reduce the risk of theft, by giving you the location of all the\nassets via networked sensors.<\/p>\n\n\n\n

Security <\/strong><\/p>\n\n\n\n

Security is one of the most exciting opportunities to\nutilize IoT technology. You can utilize the Internet of Things to increase the\nsecurity of buildings in ways you may not have considered. For instance, smart devices\ncould be used to constantly monitor water and air quality and report results in\nreal-time or you could use it to monitor something as seemingly mundane as dumpsters\nand recycling bins. IoT smart devices are fantastic for monitoring all types of\nactivity in different areas around your business. <\/p>\n\n\n\n

Potential security applications are practically limitless. Any\narea of your business can be monitored in real-time with results being\ninstantly reported via Internet connections. <\/p>\n\n\n\n

Image: IBM Research (Flikr) http:\/\/bit.ly\/2Rzzv6Y<\/a>\n<\/p>\n","protected":false},"excerpt":{"rendered":"

Looking to the near future, there are 5 pivotal areas that businesses can look towards for Internet of Things opportunities to propel their business forward and get a \u2018leg up\u2019 on their competition.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[79,104],"class_list":["post-1097","post","type-post","status-publish","format-standard","hentry","category-internet-of-things","tag-internet-of-things","tag-iot"],"_links":{"self":[{"href":"https:\/\/www.vanitymobileapps.com\/blog\/wp-json\/wp\/v2\/posts\/1097","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vanitymobileapps.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vanitymobileapps.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vanitymobileapps.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vanitymobileapps.com\/blog\/wp-json\/wp\/v2\/comments?post=1097"}],"version-history":[{"count":3,"href":"https:\/\/www.vanitymobileapps.com\/blog\/wp-json\/wp\/v2\/posts\/1097\/revisions"}],"predecessor-version":[{"id":1102,"href":"https:\/\/www.vanitymobileapps.com\/blog\/wp-json\/wp\/v2\/posts\/1097\/revisions\/1102"}],"wp:attachment":[{"href":"https:\/\/www.vanitymobileapps.com\/blog\/wp-json\/wp\/v2\/media?parent=1097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vanitymobileapps.com\/blog\/wp-json\/wp\/v2\/categories?post=1097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vanitymobileapps.com\/blog\/wp-json\/wp\/v2\/tags?post=1097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}