With ABI Research estimating that more than 30 billion devices will be wirelessly connected to the Internet of Things (IoT) by 2020 and Gartner predicting that 1 million new IoT devices will be purchased every hour of every day; it’s a great time for your business to accommodate new and emerging IoT innovations as we approach towards the exponential increase in the number of connected devices.
Connected IoT services are not just business opportunities of future but these are vital now. In this scenario, companies can’t afford to sit back and wait.
However, even now, for most businesses, the IoT is an entirely new territory. And while, the pace of innovation is incredible, enterprises looking to capitalize on the IoT can’t afford to waste any time. Hence, our Center of Excellence (CoE) in IoT is an effort to help enterprises move quickly to deploy IoT initiatives.
What will our CoE in IoT Focus on?
In order to provide guidance and support to our customers in a plethora of distinctive yet focused IoT-related capabilities and to companies building IoT businesses, our CoE in IoT will primarily focus on BLE (Bluetooth Low Energy) technology, that is, beacons and home automation:
Beacons are powerful in providing businesses with local, targeted data and services to employees, clients, and guests. These low-cost, low-powered transmitters, equipped with Bluetooth Low Energy (BLE), can be used to deliver context-aware, proximity-based messages. As per Business Insider, more than 50 of the top 100 retailers in the U.S. are testing beacon technology and more than 4.5 million beacons will be in use by 2018, with 3.5 million of these in use by retailers.
In retail sector, beacons can help with customer insights. These can tell how long customers typically spend in your store and how often and for how long they stay nearby particular products. This can stem into retargeting. You can also understand your customers’ favored product groupings, their shopping habits and interests, and kind of patterns they take around the store.
Use Case: Loyalty Reward Program
When you wish to give back to your customer for opting your brand and spending their money, time, and effort on you, loyalty reward programs implemented via beacons and one-to-one marketing campaigns can be employed.
With the help of IoT, you can capture your customer’s web activity and point-of-sale purchases, which can be used to understand shopping behaviors and segment shoppers into categories like ‘loyal’, ‘brand switcher’, or ‘never buy’. Other crucial data points like availability of in-store products, current location, and environmental conditions (heavy traffic, weather, a triggering event, etc.) can also be gauged that can influence buyers’ behavior. Thus, brands can proactively engage with customers with the right type of content at an appropriate time and reward consumers for their participation.
Home automation enables you to control devices in your home from a mobile device anywhere in the world. The term is sometimes used for isolated programmable devices, like thermostats and sprinkler systems. However, home automation more precisely refers to homes in which nearly everything, from lights and appliances to electrical outlets and heating and cooling systems, are connected to a remotely controllable network. This also includes alarm system, locks, doors, windows, smoke detectors, and surveillance cameras and other related sensors from home security point of view.
Use Case: Smart Sensors
With smart sensors, you can have your house or workplace become aware of you. Most of the equipment manufacturers have a variety of sensors viz. motion sensors, temperature sensors, humidity sensors, weight sensors, etc. that you can install. For example, with home weather sensors, you can track the temperature, CO2 levels, humidity, sound levels, and other environmental factors in your home.
Such smart thermostats can also control your heating and cooling systems themselves to ensure the most energy-efficient operation. It can also do some genuine smart things like turning the air conditioning or heat on when you are at a certain distance away from home. What’s more? You can also control your home’s environment from anywhere on the planet with an internet connection through app that is connected to your thermostat.
How can IoT benefit your Business?
Built on networks of data-gathering sensors and cloud computing, IoT enables physical objects to become active participants in business processes. Industries wherein IoT is increasingly been adopted are manufacturing, healthcare, transportation, hospitality, automotive and consumer electronics, retail, and security. With Internet of Things being one of the largest economic opportunities in the world, you cannot afford to miss it.
Businesses which become smarter by adopting IoT technologies can reap following benefits:
Enhanced Business Intelligence
For businesses, managing big data and mining out important information out of it are complicated yet crucial tasks. With IoT, businesses can get data pouring in from all corners – homes, offices, shopping centers, hospitals, online data, and in-store data. It will be helpful in tracking the analytics and improving business strategies, henceforth.
Better Customer Experience
When businesses’ customers are inter-connected, it’s a great opportunity to gauge their preferences and needs and have immediate access to customer data. It will also help you provide your customers with quick response and reaction times, eliminate long wait times and troubleshooting procedures. All these will help you in enhancing customer experience.
IoT, through its gamification strategies, inter-connectivity, and enhanced collaboration, can improve employee engagement in a tech-driven work culture of today. Engaged employees are more productive and have better work/ life balance.
IoT-enabled industry is here and is only going to get bigger. The gains are just too great to ignore.
Where to start is not that difficult.
With our extensive IoT ecosystem, we can help you manage and bring intelligence to IoT with industry-leading solutions. Contact us at [email protected] for a discussion with one of our IoT professionals.