5 Ways To Use IoT In Your Business

IoT is changing everything. It’s not just a buzzword anymore, as IoT takes every business function and app into account. It’s becoming a reality that we can see and interact with; one that will take over our world at an accelerating pace over the next few years. For some companies, IoT will be a scary proposition. If you’re looking to stay ahead of competitors, the prospect of tracking buying habits, inventory levels and even your staff’s working hours will be intimidating at first. But for others, it might actually be a good thing. If you’re looking to grow your business and achieve your own success, then now might be the time to embrace IoT fully. After all, what have you got to lose?

What is IoT?

In this section, we’ll take a look at what IoT is and what it does. Then, we’ll explore the benefits of using IoT in your business and how you can get started today. What is IoT? In this section, we’ll take a look at what IoT is and what it does. Then, we’ll explore the benefits of using IoT in your business and how you can get started today.

How It Works in Practice

Imagine you own a supermarket. You make your living selling food, but you also make regular trips to the supermarket to stock up on the ingredients you need for recipes you want to test out in your café. Now, imagine you’ve got a fridge in your store that’s full of fresh produce, but no way of knowing what items are in it. Or, even worse, imagine you’ve got a produce section that’s evenly spread across all three floors of your store. This might sound like a crazy idea, but it’s not far-fetched. In fact, it’s how most businesses currently track their inventory and stock levels. They use RFID tags to track inventory, and those tags are then attached to the produce.

Benefits of Using IoT in Your Business

In this section, we’ll take a look at the benefits of using IoT in your business, and then we’ll examine the main features of every IoT system available and decide which one might be right for your business. Cost-Effective One of the biggest benefits of IoT is that it brings cost savings to businesses. By tracking everything, from inventory to purchase orders, and sending real-time notifications when something goes wrong, you can discover what’s causing problems and get them solved fast. Improved Customer Service Another benefit of using IoT in your business is that it can improve customer service. By using a solution like Amazon’s Alexa, you can place and track orders on the spot. This kind of customer service is usually reserved for large corporations that have their own call centres. Improved Productivity Last but not least, productivity gains are a result of IoT in businesses. IoT can help you save time by eliminating the need for human intervention when something goes wrong and, in some cases, human error is to blame. As soon as an item goes missing or is damaged, for example, you can get a replacement sent straight to your door.

5 Ways to Use IoT in Your Business

Now that we’ve taken a look at what IoT is, and how it works in practice, it’s time to examine the main features of the most popular IoT systems and see which one might be right for your business. LIDO - The Most Used IoT System LIDO (Low-Cost, Industrial, Device-to-Device) is a family of IoT systems that are designed to connect machines to each other and to the Internet. BLEAM - Best for Business-to-Business BLEAM (Blockchain-Based, IoT-enabled, Automated Mapping) is a system that allows companies to create a single source of truth for their data and make it easily accessible for third-party applications. Pesco - Best for Analytics Some businesses prefer to use analytics to understand their performance and see what can be improved. With this system, you can track everything from order quantities to customer demographics and sales performance. HOT - Hot Off the Shelf Some industries are making great strides with IoT. These are the systems that let you build a smart home, connected car or any other device with the right sensors.