In this digitized world, technology has become the essential part of our lives. Today an ordinary person uses the technology via any medium, be it a mobile phone, tab, etc. Due to its availability, electronic gadgets have become a part of our family.
There is no doubt that digital transformation helps the business to expand its reach on the digital platform among online users. Internet of things(IoT) also becomes the significant part of businesses, which signifies the importance of taking the IoT App Development Services Companies.
Let’s first dive into the pool of IoT for a better understanding.
You must be familiar with smartwatches; even some fitness freaks use them to make themselves fit and fine. These smartwatches track each step we take. Similarly, smartphones know our location where we are.
IoT stands for the Internet of things, and it works to give an insight into the process when used in the business. These days, some businesses are ready to take the first step in the world of IoT or some have already taken this important step.
If the company still doesn’t hasten to implement the IoT, there is a high probability of lagging behind the tech-savvy competitors.
One of the studies finds out that, in the year 2015, there were around 15.4 billion connected devices. Intel predicts that at the end of 2020, there will be an estimated 200 billion connected devices. Furthermore, for 2021 total business spending on IoT solutions will reach approximately $6 trillion.
In this article, we will discover how the IoT helps to secure your business.
Focus on Improving the Customer Experience:
There is always a need to keep a constant check on the customer’s requirements. So you must try to figure out ways for increasing the customer’s experience. You can take inspiration from this example: one of the kid’s famous place has tried the technique to know about its customer’s behavior and requirements. They allow their visitors to tie the magic band, which has a range of upto 40 feet in every direction. With this powerful strategy, they can know what the visitor wants to explore, how much time they have spent in the waiting queue, how many of them take the rides, etc. With this IOT technology, they can get an answer to all these questions with deep contentment. You can try this strategy so that you can secure your business in fierce competition.
According to i-SCOOP, there was an estimation that IoT endpoint is forecasting to reaching 5.8 billion endpoints, which was an estimated increase of 21% from the previous year 2019.
The fastest-growing sector in terms of IoT implementation are-Building automation, automotive and healthcare. In addition to this, the second largest user of IoT is physical security, and then third is government and son on.
So, these are some of the sectors which are implementing this technology to upscale their business.
Keep Your Customers Updated:
These days, almost everyone wants to avoid the problem of going off outside due to pandemic. Therefore, people are more inclining towards the online shopping trend. So, you must be wondering how you will use the IoT in it.? By implementing it, you will be able to give up-to-the-minute information about your services or new launches to valuable customers. Furthermore, you all must have listened to artificial intelligence, so by taking the services of Artificial Intelligence Development Company, you can touch the heights of the sky.
With IoT technology, the customer can know the status of his parcel. In addition to this, if the packages are tagged with sensors, the customer will be able to track the route of his delivery parcel through a mobile app by following the trackable link from the retailer’s website.
Impact on Decision Making:
IoT is used to give the insight view of the business, which ultimately helps in decision making. The app based on these technologies helps in monitoring the various types of a business process. Let’s consider an example- if the business employs the IoT sensors on the employees working equipment, then the top management can get the every minute update because the data is stored in the cloud. The managers can access the data anytime via mobile apps from any devices. After detailed analysis, they will be able to decide on the improvement of the business. With this information, they will be able to riddle out where they lack behind.
In a Nutshell:
We have seen that the number of devices connected to the internet keeps rising every year, which indicates the significance of IoT technology in the business world. It has changed the whole scenario of doing the business. So, if it’s always best to embrace the new technology and remain ahead of the pack, please note this, never give a small chance to your competitor to win the race. So, be wise and choose this technology for your business to survive in the upcoming years.
Ellocent Labs is one of the best IoT Software Development Company in the IT industry that has become synonymous with excellence and agility. We have a team of skilled developers who are always ready to meet new challenges. Our main motto is to deliver quality work to our clients. Please visit our website for more information!