What Is IoT And How Can It Help An Ecommerce Business?

I must say, what an exciting time to be alive! To be part of this fast paced digital age, where billions of devices from smartphones to computer to virtual assistants AI technology, all communicate and “talk” to one another. In this ever evolving digital sphere, those who can make use and adapt to learn this attribute can reap unimaginable for their businesses! Are you someone puzzled with queries relating to how this integrated technology can energise your e-commerce business? Then read on!

What Is IoT?

Internet of things (IoT) is a unique system of interconnected computers, mechanical devices and digital machines which enables them to transfer data amongst themselves without the need of a “human touch”.

Want it simplified? Imagine your alarm clock, knowing the path and location to your office, computed the traffic conditions, estimated your arrival time and woke you up accordingly! Less traffic on the road, and more sleep! Crazy to think but that is what IoT is!

How Is It Linked To E-Commerce?

IoT (Internet of things) and ecommerce are cut from the same piece of cloth. Or more so ecommerce is born from IoT. Simply put IoT is sharing of data between devices over the internet, and when this logic is applied to transactions, it becomes E-commerce!

Today’s lifestyle very much supplemented the growth and popularity of the duo. With online shopping, and social interaction through social networking sites so on and so forth. The online space is where who can conjure a profitable business for this new band of customer base.

How Has IoT Evolved The Field Of E-Commerce?

  • Security And Surveillance

IoT advancements help you to maintain the inventory records by incorporating sensors enabled with IoT. This allows for data capture and analysis of it, in a real-time basis. These IoT enabled devices can take in all the critical data pertaining to a product without needing any human presence. Because of this, it factors out any human errors that may dissatisfy your potential buyers on things like expiration dates, product availability and many more aspects. If the inventory for a particular product is falling short, IoT will inform the required to the person before the stock runs dry!

  • Real-Time Tracking

A very important part of logistics is to ensure that the product is delivered to the customer intact and in the way it was supposed to be. Apart from these, the delivery time and quality of perishable goods are also to be considered when delivering. All this can be solved by IoT sensors that track the product right from the beginning to the very end, until it’s delivered. This eliminates the problems relating to misplacement and quality as the shortest route is computed using GPS (Global positioning system) and RFID tags (Radio frequency identification).

  • Bringing In The Customers

Another aspect of IoT is that it helps your customers to put forward their thoughts on the product. This is crucial as this helps you amend and improve facets of your product. What’s more, IoT targets your specific customer for an ad that is more or less personalized. It closely studies your customer’s browsing history, their shopping patterns and allows your product to reach your target audience.

This in essence helps increase the conversion rate!

  • Helps Make The Best Of Things

IoT helps to optimize and improve the productivity of your e-commerce business. This helps reduce wasteful expenses. Sensors integrated with IoT monitors many factors that can affect your products quality such as the humidity, temperature and so on. Several other functions such as the transport of the order within the warehouse, the product stocks, the pick-up times etc. Have a look at the tech retailer giant, Alibaba making use of Cainio’s IoT worker robots in their warehouses to move and segregate various sorts of goods. These robots self-charge when they feel they’re on the low. The result is that human labour has reduced by 70% and the output increased three folds!

What Can I Expect From The Future Of Internet Of Things?

IoT Is making leaps and bounds sprouting new advancements every other year. IoT takes in enormous amount of data from various platforms. Companies like Alibaba and Amazon leverage the power of machine learning and big data analysis to collect data. This data is then used for pattern recognition, predictions and allow for attracting more qualified and interested leads.

The future can expect improved quality management, tracking, planning which will help set a business apart and also cut down on its useless costs. With more and more e-commerce businesses sprouting it is expected that IoT will help around 70% of them globally, to help them create better shopping experiences for consumers.

The Epilogue

The possibilities are endless and technology is limitless. Only time will tell, what challenges lies ahead for IoT to eventually take on and win!

A List Of Top Applications Of IoT For Businesses

Internet of Things (IoT) is a technology that is now widely being used in a lot of sectors. This breakthrough technology has made it possible to facilitate communication between different devices without human intervention. Hence, it became possible to transfer data between computing devices and other mechanical and digital machines easily.

This technology is making a great impact on the business field, as it helped to improve the efficiency of business processes. With the help of this technology, different devices, machines and systems related to a business can communicate with each other to facilitate their optimum working. The technology of IoT has made it possible for the devices to communicate with each other without the need for human interaction. Therefore, it helped in improving the efficiency of business processes thereby generating better revenue.

IoT has a lot of applications in the business sector. A lot of businesses are now utilizing the potential of this revolutionary technology for enhancing their efficiency and boosting their profit. Different IoT products are being introduced in the business field that can be utilized by different businesses for their own betterment. We list some of the important applications of IoT for business for helping you to decide whether this new generation technology is for you.

Data Generation

IoT systems use different devices for collecting and generating data including sensors, computing systems, etc. These sensors, when connected to different machines or systems, can collect data about their working and transfer it to a computer or other related systems. This data can be stored and analyzed for future needs. It can play a great role in decision making also.

In addition to this, these sensors will be able to detect the malfunctioning of machines and the possibility of their break down. It can be used to determine the efficiency of a particular system or procedure. Hence, it will be easy to make improvements and changes to different procedures when needed.

The data generated by IoT products will be very accurate and precise. Therefore, it will be helpful in eliminating the errors associated with data generation when done manually.

Reduce Maintenance Costs

Maintenance costs associated with different machines and inventory management is one of the greatest concerns of all businesses. But IoT systems can be of great help to bring down these costs and to dissolve such issues with ease. IoT products have the capability to monitor the working of a machine consistently. Hence, any chances of malfunctioning can be detected in the early stages and the problems can be rectified before the machine breaks down. This can be helpful to reduce the maintenance costs. In addition to this, it can also reduce the downtime, thereby avoiding the loss of revenue associated with this problem.

Smarter Security

IoT solutions are widely used by a lot of businesses for ensuring the safety of their business processes and the security of their data. IoT systems can detect the presence of security threats that exist in the workplace. Hence, these systems can be used for ensuring the safety of the employees and for increasing the security of the working environment.

In addition to this, IoT systems are capable of protecting your data. It will help you to store all your businesses related data securely. Therefore, you don’t have to worry about data breach, cyber-attack or any such potential threats. It can implement a real-time system for keeping your data secure and also facilitate its easy management and access.

Customer Service And Support

This is a great application of IoT that helps businesses to always keep in touch with their customers and also for ensuring them better service and support. It can efficiently store all the customer-related information so that it will be easy to analyze the information about a particular customer.

IoT system can be used to automate the process of customer support, hence, your customers will get 24×7 service. This will increase the reputation and credibility of your business. Also, the automation of these processes can be helpful for you to reduce different costs associated with facilitating customer support.

Smoother Logistics

The storing of products and their logistics is a hectic task. It can be really difficult to keep track of the details of the products made and about their warehousing and transportation, especially for large-scale businesses. But IoT has made this task easy and efficient. It can be used to efficiently monitor the warehousing and dispatching of products.

It is also possible to keep track of the movement of a product from the manufacturer to the end-customer. This can be used to make sure that the product reached the right customer at the right time. Hence, it will help you to provide better customer satisfaction.

IoT products are now widely being utilized by businesses for improving their efficiency and increasing profit. It can be useful for automating the business processes and also for ensuring the control and coordination of different components related to a business. Therefore, IoT has the capability to facilitate the overall improvement of a business thereby aiding in revenue generation.