{"id":2068,"date":"2019-11-13T04:13:45","date_gmt":"2019-11-13T04:13:45","guid":{"rendered":"http:\/\/kusuaks7\/?p=1673"},"modified":"2024-02-26T09:51:33","modified_gmt":"2024-02-26T09:51:33","slug":"how-will-the-iot-revolutionise-the-way-businesses-operate","status":"publish","type":"post","link":"https:\/\/www.experfy.com\/blog\/iot\/how-will-the-iot-revolutionise-the-way-businesses-operate\/","title":{"rendered":"How will the IoT revolutionise the way businesses operate?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2068\" class=\"elementor elementor-2068\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-7a7800e1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7a7800e1\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-583b57d6\" data-id=\"583b57d6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-074b4ca elementor-widget elementor-widget-heading\" data-id=\"074b4ca\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\"><blockquote>\n<ul style=\"list-style-type: square\">\n \t<li>\n<h4><em>Businesses rely on the IoT to impress their customers<\/em><\/h4>\n<\/li>\n \t<li>\n<h4><em>Tech enables savings and new revenue streams<\/em><\/h4>\n<\/li>\n \t<li>\n<h4><em>Retailers use the IoT to gain a competitive edge<\/em><\/h4>\n<\/li>\n \t<li>\n<h4><em>How to overcome challenges when deploying IoT solutions<\/em><\/h4>\n<\/li>\n \t<li>\n<h4><em>All businesses can benefit from tech innovations<\/em><\/h4>\n<\/li>\n<\/ul>\n<\/blockquote><\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5060506 elementor-widget elementor-widget-text-editor\" data-id=\"5060506\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tPublic interest in the\u00a0<a href=\"https:\/\/www.richardvanhooijdonk.com\/en\/keynote\/trends2030\/\" rel=\"noopener\">Internet of Things<\/a>\u00a0(IoT) is growing in leaps and bounds, with connected devices transforming the way we run our homes, companies, and even entire cities. In the US alone, for instance, consumers are expected to\u00a0<a href=\"https:\/\/www.businessinsider.com\/iot-forecast-book-2018-7\" class=\"broken_link\" rel=\"noopener\">spend<\/a>\u00a0over $90 billion on IoT devices by 2023, while business investments in the IoT are estimated to\u00a0<a href=\"https:\/\/www.forbes.com\/sites\/louiscolumbus\/2017\/12\/10\/2017-roundup-of-internet-of-things-forecasts\/#355251021480\" class=\"broken_link\" rel=\"noopener\">reach<\/a>\u00a0$832 billion in 2020. The IoT-powered fourth industrial revolution is upon us, radically changing the business landscape \u2013 and life \u2013 as we speak.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9e6f180 elementor-widget elementor-widget-text-editor\" data-id=\"9e6f180\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tIn fact, a study conducted by\u00a0<em>Forbes Insights<\/em>\u00a0and Hitachi Vantara\u00a0<a href=\"https:\/\/www.eweek.com\/innovation\/how-enterprises-are-using-the-iot-for-business-transformation\" class=\"broken_link\" rel=\"noopener\">reveals<\/a>\u00a0that executives rank the IoT as the single most important emerging technology, outranking artificial intelligence and robotics. This isn\u2019t surprising, considering that this tech is expected to<a href=\"http:\/\/www.eweek.com\/innovation\/how-enterprises-are-using-the-iot-for-business-transformation\" class=\"broken_link\" rel=\"noopener\">\u00a0generate<\/a>\u00a0new revenue and annual savings of up to $11 trillion by 2025. What\u2019s more, it\u2019ll offer companies new ways to improve efficiency, understand their customers, and grow their business, making the deployment of IoT tech in the digital age crucial to business survival. For instance, 94 per cent of companies that invested in the IoT\u00a0<a href=\"https:\/\/www.forbes.com\/sites\/insights-inteliot\/2018\/08\/24\/5-ways-iot-is-reinventing-businesses-today\/#3a93afc91c20\" class=\"broken_link\" rel=\"noopener\">expect<\/a>\u00a0a significant profit boost. But rising profit isn\u2019t the only benefit the IoT offers \u2013 its effects are much more profound than that.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f23ffa7 elementor-widget elementor-widget-heading\" data-id=\"f23ffa7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><h2>Businesses rely on the IoT to impress their customers<\/h2><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-137ab6f elementor-widget elementor-widget-text-editor\" data-id=\"137ab6f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.richardvanhooijdonk.com\/en\/blog\/the-future-of-sensory-inclusive-retail-spaces-a-uk-supermarket-introduces-quiet-time-in-over-400-stores\/\" class=\"broken_link\" rel=\"noopener\">IoT sensors<\/a>, cameras, and special software enable businesses to collect massive amounts of data and discover new insights about their products and customers. Data in itself isn\u2019t useful, however. To get to those coveted insights, machine learning first needs to comb through vast datasets, such as online and on-site buying histories of thousands of people, finding patterns and providing actionable data that can be used to improve decision-making. For instance, Samsung\u00a0<a href=\"https:\/\/www.forbes.com\/sites\/bernardmarr\/2017\/06\/20\/internet-of-things-iot-5-essential-ways-every-company-should-use-it\/#2e8c44a31a60\" class=\"broken_link\" rel=\"noopener\">collects<\/a>\u00a0usage data from thousands of its smart TVs and uses it to improve products and provide a better user experience. Other companies, though, rely more on collecting and analysing visual material. Retailers, for instance,\u00a0<a href=\"https:\/\/www.forbes.com\/sites\/insights-inteliot\/2018\/08\/24\/5-ways-iot-is-reinventing-businesses-today\/1#3a93afc91c20\" class=\"broken_link\" rel=\"noopener\">analyse<\/a>\u00a0video footage from in-store cameras with AI tools to better understand customer reactions to the latest store discounts. And at airports, sensors and cameras can help airport employees quickly pinpoint things like malfunctioning escalators, dirty bathrooms, or crowded corridors, and dispatch teams to address the problem.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4201954 elementor-widget elementor-widget-heading\" data-id=\"4201954\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><h2>Tech enables savings and new revenue streams<\/h2><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ce78021 elementor-widget elementor-widget-text-editor\" data-id=\"ce78021\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tBesides improving customer experience, the IoT also helps companies to reduce expenses and even creates new revenue streams. A study by the logistics company DHL and the IT company Cisco shows that the IoT will\u00a0<a href=\"https:\/\/www.amfam.com\/resources\/articles\/your-business\/how-to-reduce-business-costs-with-the-internet-of-things\" class=\"broken_link\" rel=\"noopener\">cut<\/a>\u00a0global productivity costs by more than $1 trillion. For example, companies such as Harley-Davidson\u00a0<a href=\"https:\/\/www.forbes.com\/sites\/insights-hitachi\/2017\/12\/18\/5-areas-where-the-iot-is-having-the-most-business-impact\/#ca002ba4396c\" class=\"broken_link\" rel=\"noopener\">report<\/a>\u00a0a seven per cent cost reduction after using the IoT to optimise the production process. Smaller companies can benefit, too. For instance, by protecting their offices with a smart security system or cutting utility costs with energy-efficient smart air conditioners. Mining companies can equip their heavy trucks with sensors and use the collected data to make their vehicles more efficient, saving money on fuel and labour. The rising demand for IoT devices also benefits manufacturers, not only because of product sales, but also due to significant revenue from maintenance and monitoring services. Clearly, the IoT is affecting businesses in many different ways, with the transformation being especially profound in the field of commerce.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c0b2b7a elementor-widget elementor-widget-heading\" data-id=\"c0b2b7a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><h2>Retailers use the IoT to gain a competitive edge<\/h2>\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5a1262a elementor-widget elementor-widget-text-editor\" data-id=\"5a1262a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tRetailers and producers work tirelessly to catch up with everything technology has to offer. Improved logistics is one of those things, as the IoT enables seamless delivery and sensor-based tracking of online orders from the production plant to the customer\u2019s doorstep. Automated orders are another opportunity to impress consumers. For instance, several brands have already customised their\u00a0<a href=\"https:\/\/www.businessinsider.com\/ge-dishwasher-orders-amazon-detergent-2016-10\" rel=\"noopener\">dishwashers<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.digitaltrends.com\/computing\/hp-tango-x-smart-pinter\/\" rel=\"noopener\">printers<\/a>\u00a0in such a way that they can automatically order detergent and toner cartridges from Amazon. And as market competition increases, those businesses that use tech to frequently interact with consumers will be able to gather more data and create a more personalised shopping experience, thereby gaining a competitive edge.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bffe2c4 elementor-widget elementor-widget-text-editor\" data-id=\"bffe2c4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThey can, for example, offer a discount to customers in their stores for items they\u2019ve been looking at online. Or just think of the benefits that\u00a0<a href=\"https:\/\/qz.com\/1167024\/all-the-things-you-can-and-cant-do-with-your-wechat-account-in-china\/\" class=\"broken_link\" rel=\"noopener\">super-apps<\/a>\u00a0like China\u2019s WeChat could potentially bring on a global scale. These apps integrate services like payment, social media, internet browsing, ride-hailing, and others into a single platform. These and many other examples illustrate massive changes in commerce caused by the IoT and other technologies that businesses can\u2019t afford to ignore.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-47e9134 elementor-widget elementor-widget-heading\" data-id=\"47e9134\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><h2>How to overcome challenges when deploying IoT solutions<\/h2>\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-64ccff3 elementor-widget elementor-widget-text-editor\" data-id=\"64ccff3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tWhile the IoT offers many benefits, deploying this technology in business operations isn\u2019t an easy job. The Hitachi Vantara and\u00a0<em>Forbes<\/em>\u00a0<em>Insights<\/em>\u00a0study\u00a0<a href=\"https:\/\/www.eweek.com\/innovation\/how-enterprises-are-using-the-iot-for-business-transformation\" class=\"broken_link\" rel=\"noopener\">lists<\/a>\u00a0IT security concerns, lack of skilled staff, and inefficient cross-department cooperation as some of the most common challenges. But important lessons can be learned from companies that have already implemented IoT projects. For instance, the three best practices include\u00a0<a href=\"http:\/\/www.eweek.com\/innovation\/how-enterprises-are-using-the-iot-for-business-transformation\" class=\"broken_link\" rel=\"noopener\">having<\/a>\u00a0CIOs as project leaders, hiring external consultants in planning teams, and using \u201ca third-party platform as the basis for IoT operations\u201d.\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4c44ccd elementor-widget elementor-widget-text-editor\" data-id=\"4c44ccd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\nFurthermore, the deployment of IoT solutions should start with a compelling and profitable business case. Led by a comprehensive strategy, companies should first make small steps before committing to big investments. And viewing the IoT as both a threat and an opportunity can give the team a sense of urgency, motivating staff to complete projects on time. This approach has helped many companies deploy IoT tools and avoid being overrun by tech-savvy competition.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b1555f3 elementor-widget elementor-widget-heading\" data-id=\"b1555f3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><h2>All businesses can benefit from tech innovations<\/h2>\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-44141d7 elementor-widget elementor-widget-text-editor\" data-id=\"44141d7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tMost executives consider the Internet of things the key emerging technology for increasing efficiency and profit. Its potential applications are diverse and range from homes and companies to cities and retail stores. As the IoT expert Hu Yoshida\u00a0<a href=\"https:\/\/www.eweek.com\/innovation\/how-enterprises-are-using-the-iot-for-business-transformation\" class=\"broken_link\" rel=\"noopener\">says<\/a>, the \u201cIoT is an opportunity that can benefit all industries, whether they are highly automated manufacturers or more manually oriented businesses like agriculture.\u201d Companies are increasingly embracing this technology and preparing for a future dominated by the IoT.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Most executives consider the Internet of things the key emerging technology for increasing efficiency and profit. Its potential applications are diverse and range from homes and companies to cities and retail stores. IoT is an opportunity that can benefit all industries, whether they are highly automated manufacturers or more manually oriented businesses like agriculture. Companies are increasingly embracing this technology and preparing for a future dominated by the IoT. Businesses rely on IoT to impress their customers.<\/p>\n","protected":false},"author":661,"featured_media":2732,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[195],"tags":[93],"ppma_author":[3424],"class_list":["post-2068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-iot","tag-internet-of-things"],"authors":[{"term_id":3424,"user_id":661,"is_guest":0,"slug":"richard-van-hooijdonk","display_name":"Richard Hooijdonk","avatar_url":"https:\/\/www.experfy.com\/blog\/wp-content\/uploads\/2020\/07\/Untitled-19-150x150.png","user_url":"https:\/\/www.richardvanhooijdonk.com\/","last_name":"Hooijdonk","first_name":"Richard","job_title":"","description":"Richard van Hooijdonk, trendwatcher, <a href=\"https:\/\/richardvanhooijdonk.com\/en\/\">futurist<\/a> and international keynote speaker, offers valuable inspiration sessions for companies,\u00a0organizations and the public sector.\u00a0His inspiration sessions have been attended by over 420,000 people. He is a regular guest at radio and television programs. He also lectures at\u00a0Nyenrode Business University and Erasmus University Rotterdam\/Netherlands.\u00a0He investigates tech trends like robotics, drone technology, autonomous transport systems, Internet of Things, virtual reality, biotech, nanotech, neurotech, blockchain, 3D and 4D printing and of course augmented and virtual reality and their impact on various industries. Findings are published weekly in the form of compelling articles, e-books and white papers."}],"_links":{"self":[{"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/posts\/2068","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/users\/661"}],"replies":[{"embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/comments?post=2068"}],"version-history":[{"count":7,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/posts\/2068\/revisions"}],"predecessor-version":[{"id":36162,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/posts\/2068\/revisions\/36162"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/media\/2732"}],"wp:attachment":[{"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/media?parent=2068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/categories?post=2068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/tags?post=2068"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/ppma_author?post=2068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}