Advanatges Of IOT

Today, companies across scale and size are pushing the envelope with IOT adoption to stay relevant in an intensely competitive environment. While this technology is at a nascent stage but market sentiments are increasingly being optimistic towards IOT as a success enabler. Market analysts like Gartner are highly optimistic about IOT growth and penetration – from 8.4 billion connected things in 2017 to 20.4 billion by 2020.

What is Internet of Things?

Let’s give you a cue: Think how your standard phone has turned into a smartphone? How has a TV transformed into a smart TV? How has a lock transformed itself into a smart lock? Well, the innards remain the same. The internet has hit our lives in a never before way. It is actually making us addicted and connected. This is IOT in a nutshell.

How are companies benefitting from it?

To encourage digitization and to provide uninterrupted services to the customers, today more and more companies are leaning towards this technology. In the next few lines, we will discuss about the benefits that it provides:-

• It elevates the customer experience

Today, the companies are taking unusual steps to increase the customer experience and one among them is IoT. In the hospitality sector, IoT technology is playing a profound role. Some hospitality chains like Virgin Hotels, offer an app that helps the guest to control the TV or regulate the room’s thermostat. “With the Internet of things we are looking at ways devices interact with basic functionality at the hotel, “mentioned the vice president of sales and marketing for Virgin Hotels. Other hotel chains like Mariott are planning to join the similar bandwagon.

• It simplifies business

The Internet of Things has been a buzz word for various industries including airport, theme parks and a lot more. This technology offers the chance to streamline the cost of operations and helps the company to refocus on what the business actually needs. Don’t believe?  Here’s an example of a company that needs no introduction, Disney. Recently, it has launched a Magic Band initiative in Orlando, a network of internet ready sensors inside every object in the park that further help to simplify guest transportation to lodging to itinerary planning to reservations to dining.

• It improves productivity

Productivity largely depends upon the kind of technology that you have deployed. At least, the largest manufacturer of paints, Asian Paints believes in it. In a recent interview, with Harish Lade, the general manager Systems confirmed that they have leveraged IoT technology for its packing lines. Through it they can keep a track of the containers-like whether they are packed optimally, under packed (against the norms) or over-packed (means giving the product for free), thus giving a check towards the productivity levels.

Conclusion

IoT technology is poised to bring a change in various industries like retail, logistics, FMCG, etc. It is rightly quoted, “The Internet of Things has potential to change the world, just as the internet did. May be even more.”