There are many things that make IoT special. It connects a device to another, allows control of the device from a remote location and has the ability to make life simpler for all of us. Considering what it can do, IoT Services Company and enterprises have started treating it as a phenomenon that will bring about a digital transformation. However, such is the nature of IoT that its employment alone is not sufficient for bringing about a change. Just like the beauty of a thing lies in the eyes of the beholder, the value of IoT lies in the way a business intends to use it. For all the IoT business solution and devices we have, they will be worth nothing if the business employing them is not using them innovatively.
New Technology vs. Innovation
Commonly, the inception of a new technology is linked with innovation. However, more often than not, it is not the case. Although a new technology can bring about new product offerings that can be considered innovative, it does not happen all the time. Innovation is about developing a new product or product feature that offers something of value to the customers. Just because you have mobile to mobile connectivity, it means nothing if the link you have created fails to deliver value to the customers.
The development of USB cable to provide power to electronic devices can be considered an innovation. But, when you improve the efficiency of a 98% efficient USB cable by 30%, the overall efficiency only increases by a mere 0.6%. Not an innovation! However, when you manufacture a wireless charging solution with an efficiency of 80% and eliminate the possibility of users’ struggling with several USB cables…definitely an innovation.
Emerging Possibilities with IoT Business Solution
Here, we are not talking about the new user experience with IoT but about the possibilities it holds for different businesses. Especially in industrial applications, the proliferation of IoT devices looks enticing and filled with new opportunities. Below are some ways, in which, a business can harness the many advantages of IoT by assimilating it in its workflow:
For Enhancing the Capability of Marketing Department – Marketing department is burdened with the unforgiving task of enhancing customers’ experience. The spread of IoT devices can provide valuable information to the users, which can be utilized for understanding customers’ preferences and devising plan to address those needs proactively.
Increasing Safety of Workers – After establishment of a comprehensive IoT network, it will be possible to monitor the condition of industrial equipment. Depending upon the degradation of a product, it will be possible to replace it before it malfunctions. This can help in preventing accidents at a workplace.
For Overhauling a Business Model – Most companies stick with their old business models for too long because they are too afraid to overhaul the entire system. But with the power of information at hand, it would be easier to make the transition with complete conviction.
A Word of Caution
IoT services are only effective if they are provided consistently without any interruption. Any disruption in services can seriously undermine the value of IoT services. Hence, it is essential that you select an adept IoT connectivity provider with a good reputation in the market.