Though the internet is no new phenomenon at this point, it seems that every day a new technological innovation pops up that takes internet connection to new heights and creates a modern and efficient tool to better our lives. From shopping to transportation to schoolwork and learning, everything seems to be tied back to the internet and its functionality. As an emerging area of immense technical, social, and economic importance, understanding the internet and its ties to our daily lives has never been more relevant. That’s where the Internet of Things comes into the picture.
How does the Internet of Things work?
As stated, the Internet of Things (or IoT) encompasses the idea that billions of physical objects around the world are embedded with sensors and software that connect to the internet and make them capable of exchanging and receiving data from other sources around the world. These devices can be anything: phones, washing machines, kitchen appliances, cars, industrial tools, subway ticket machines, aeroplanes, you name it, the list goes on, it’s likely connected. Once the device or object is connected to an IoT platform, the platform begins integrating data from the many different devices it’s connected to and can apply analytical software to highlight and pull out specific trends or needs.
Some benefits brought by the Internet of Things:
This is a game-changer for all kinds of businesses. It’s never been easier to amass user statistics and feedback on products and technologies than with an IoT platform. Managers can use IoT technology to track item popularity, selling trends, inventory management, and much more, all from the comfort of their desk and without spending hours compiling and analyzing hard data. It can also affect many sectors of public life, including streamlining transportation systems so they can effectively incorporate and respond to changes based on immediate feedback or crisis notifications. IoT can even help you at home by synthesizing all your household data and putting it together in one easy read-out, so at a glance, you can tell when you need to book maintenance for your car or a trip to the grocery store.
The integration of all levels of daily personal and professional life indicates a new frontier in business management. Implementation of agile and efficient IoT services is essential to keep in mind during new product innovation, and upgrading existing IoT products can also help keep your customers happy while maintaining top-notch quality in everything you manufacture. Whether your IoT is industry-specific or general to many products, providing seamless integration into daily life is a must that will keep your business on par with the latest technology innovations and put your business ahead of the game.
This isn’t merely an ideological change either; analysts predict implementing IoT worldwide could have a global economic impact of more than $11 trillion in the next five years. So, your company can begin to see tangible fiscal incentives after implementing this new tech.
Summary
Game-changing technological innovations arrive day after day, but the IoT has been a standout benchmark that’s transforming the way businesses operate and customers purchase. Not only do you get complete control over your data, but you also have the opportunity to obtain across various sources. Keeping the IoT in mind as you develop, maintain, and sell your inventory is essential to keeping your business relevant and functional, and will ensure new and loyal customers for years.
If you’d like to know more why not speak to us directly, call us on +442034416513 or visit our website on www.cxportal.com and we’ll help you in any way we can.
Sonja Pischedda
CXPORTAL is your award-winning AI, ML, SAP Commerce Cloud and eCommerce digital transformation solutions provider, CXPORTAL is specialised in Innovating business strategy, design and development of digital products, digital platforms engineering and data science solutions. CXPORTAL Leverage Artificial Intelligence, Machine Learning Algorithms, Deep Learning Models, and big data Analytics to unlock and scale your business data, and optimising the operating model for exponential business impact.
