Importance Of IoT And Automation For Businesses

IoT Products
IoT Products

Internet of things (IoT)has shrunk the world into a network of billions of connected devices that can be managed from anywhere. IoT made it possible for different devices to stay connected to each other and to the internet. This technology has created a great buzz in the business field, as it is useful for improving the efficiency of businesses, thereby helping them to flourish. It helped businesses to boost productivity, efficiency, and agility by automating different tasks associated with them. Therefore, a large number of businesses are now utilizing the potential of IoT for improving their performance and generate more revenue.

The following are some of the important uses and benefits of IoT in business:

Brought Intelligence To Asset Management And Supply Chain

Asset management is one of the major headaches that most organizations face, especially if it’s a huge one. Efficient utilization of the assets are very important for ensuring maximum production and minimum wastage. But managing the assets of a company manually is a tedious task and it can result in a large number of errors too. But with the help of IoT products, it became possible to automate this process.

Another important application of IoT is in the supply chain management. It is important to keep track of the journey of each of your products from the manufacturing unit to the consumer. This can be done efficiently with the help of IoT solutions, as it capable of tracking the movement of each of your products individually using different tracking devices.

Boost Conversion By Giving Better Customer Insights

Businesses can use the help of IoT for understanding the behavior of their customers. It will be useful for learning the interests and preferences of each customer. Hence, businesses can provide product suggestions or special offers that are suitable for each of their customer. With IoT products, it is possible to track the previous purchases of customers and their movement. Companies can use this data for creating products that suit the special requirements of the customers thereby increasing the conversion rate.

Boost Safety Compliance

IoT can be useful for ensuring the safety and security of the workplace. It can connect different systems together for detecting the presence of possible threats. Hence, employees can get a safe and secure working environment.

Facilitate Real-Time Decisions

IoT products can connect all the systems and processes associated with an organization. Therefore, it is possible to get real-time data related to these processes at any given time. This will be useful for decision making based on the current circumstances that are existing in an organization.

IoT is now bringing a large number of changes in the business field. It is useful for automating business processes for ensuring their maximum performance. This can help organizations to generate more profit by optimizing their working and increasing conversion rates.

Ways In Which IoT Benefits Ecommerce

IoT Solutions
IoT Solutions

E-commerce has witnessed a steady growth over the years with more people taking to online platforms and experts predicting the transformation of ecommerce sites into the ultimate retail platform. E-commerce sector has to adapt to the continuous evolution of technology in order to offer the best customer experience.

IoT has grown as global players in technology with multiple industrial technologies developing dependent on IoT systems. In this session, we discuss the ways in which e-commerce benefits from IoT.

Inventory Management 

IoT plays a crucial role in the operations of tracking inventory, making the process easier than ever before. RFID tags and IoT sensors streamlines the entire flow of inventory, facilitating real time inventory tracking.

IoT solutions eliminate the need of human intervention to store information like manufacturer’s details, product type, expiry date etc as automated systems handle all of these tasks. Out-of-stock products increase the chances for customer dissatisfaction and maintaining smart shelves makes significant contributions to reducing the possibility. IoT systems keep track of the number of sold products and automatically place orders once the reorder level is reached.

Warehouse

IoT products ensure the efficient management of warehouse operations by optimizing inventory in stock and eliminating over stock items. Perishable stock in the warehouse requires failsafe temperature monitoring which is best achieved using thermal sensors. E-commerce giants use warehouse robots that can move at appreciable speeds and increase the speed of picking and packing process.

Supply Chain Management

Efficacy of managing the supply chain operations is quintessential in the successful working of e-commerce operations. As IoT is the ideal tool to track the movement of goods from the place of production to the point of delivery, it ensures that the flow of goods is smooth.

Using GPS technology and RFID, the complete information about the items in transit including location, temperature etc can be obtained, making it easy to regulate the speed of transporting the goods as well the route. The arrival times of the goods can be predicted clearly with IoT technology, thereby avoiding the chances of losing shipments and misplacing.

Consumer experience

Personalization is the key to offering the best consumer experience and IoT systems help ecommerce stores to identify what is on trend in social media and offer appropriate product choices to the customers. By analyzing the browsing data of the customers IoT can identify the shopping patterns of individuals and target them better.

Keeping updated about technological advances is the key to the success and stability of businesses and businesses operating in the online platform should especially keep track of the technological trends. IoT assists the operations of ecommerce sites, making hectic tasks simple.

IoT In The Health Industry – The Pros And The Cons

With the world changing right before our eyes, there is a reason not only to update our cell phone but ourselves as well. The one term that is making headlines all over in the past couple of years has been IoT. So what is it, and how does it especially help us in the health care industry? Let’s find out…

What Is IoT?

IoT or Internet of Things, is definitely the next big thing that involves the internet. In the broadest sense of the term, IoT incorporates everything under the sun that is connected to the internet. What this helps in achieving is devices connected to the internet to “talk” to one another. Now as a terminator fanatic, you may say this is the perfect recipe for creating Skynet. But fret not, we’re far from that. So what are the implications of this? Imagine your fridge which is constantly keeping stock of your groceries finds that you are low on eggs. Now when you head down to the supermarket to shop next time, your fridge will update your shopping list that you can view on your phone and remind you to get a batch of eggs. How efficient is that?!

By combining the many IoT enabled devices with automated systems, it is possible to collect information regarding specific parameters, analyse and study it, and then finally conduct an action based on the findings. Now what if you needn’t even go to the supermarket and your fridge sends an order to have eggs delivered by the time you get home from work on a weekday? You will have free time on the weekends and there is no need to put yourself through the pain of going to the market. I hope you see the possibilities that the future of internet of things now holds…

So What About IoT In The Healthcare Industry?

There is a play on words when IoT is implemented in the healthcare field, and is called IoMT or Internet of Medical Things. Now that you got a sense of how IoT could help monitor the eggs in your fridge, you can come close to fathoming the effect it could have on the health industry! As a matter of fact IoMT is already being used, and is already on the journey to deliver better services and medical care to more people. With the power of IoMT, the place of care need not just be the four walls of the local hospital! Health care is accessible when you want it! But is the picture painted as rosy as it seems? Let us look at it from both sides…

The Pros

IoMT can be implemented in wearable technology such as wrist bands that can give real-time feedback such heart rate and can alert those who are experiencing atrial fibrillations. Hell even wearable ECG monitors are available for doctors to wear, that will send electrocardiogram readings of the patient.

  • Perfect For Caregivers

IoMT can be a boon for those who are caregivers to parents and don’t live nearby or have a hectic work schedule. It helps them set appointments and keep a watch over the process.

  • Helps Save Life And Your Wallet

There are those who have chronic illnesses and have to bear with high costs due to the medical care. This cost comes in the form of rehospitalisation, time off work and to travel to and from the hospital. This takes not only a physical but a mental toll as well. Having IoMT technology helps bring the care to the patients. They can remotely check-in with the doctor, ask any question pertaining to their condition, and conduct simple tests that doesn’t require them to be physically at the hospital/clinic.

  • Helps Keep An Eye On Them

IoMT helps keep a watchful eye on the patient. Caregivers or family can now see if they miss a dosage, or require a refill with connected caps of medicine bottles. The connected device can then send an alert, notifying them of the shortage.

Pros Cons
Perfect for caregivers Secure but not safe
Helps reduce expenses Privacy
Helps with compliance Could be a health hazard

The Cons

  • Secure Is Not Always Safe

New aspects of the IoMT technology involve ingestible pill that include connected devices. This has been tried on a controlled group of cancer patients. The chemotherapy pill will allow for a third party such as a doctor to see if the patients don’t miss their dose and that they take their medicine when they’re supposed to. The problem lies when others can hack and pull out the information broadcasted by the connected devices. This brings us to the next point…

  • Privacy

What if somebody can use the information against you? What if there is an important figure or personality that is making use of this IoMT technology, and an ill-wisher somehow manages to get their hands on the information relating to their health? Or, what if the data from the device is erased or changed? What happens if the device malfunctions endangering the patient?

  • Could Be A Health Hazard

Connected devices can malfunction, fatally harming the user. This would be a law suit that any manufacturer of IoMT enabled devices would not want to be a part of.