top button
    Got Questions


Global IoT Summit 2018
Oct 31, 2018
The Leela Palace, Bangalore



    Connect to us
      Facebook Login
      Site Registration Why to Join

Facebook Login
Site Registration

IoT: Opening Up A Whole New World of Online Business Transformation

0 votes
32 views
 

IoT Opening Up A Whole New World of Online Business Transformation

Internet of Things (IoT) is a giant ecosystem of an invisible network of connected physical objects and people to the internet and to other objects which are accessible over the internet.


The IoT network of connected objects and people collect and share data in a defined format which further is used and/with/by the environment around them.

 

Why people should adopt IoT?

The existing scenario of IoT is as diverse as it grows – and at the same time, this makes one thing stronger than ever: people should be at the center of this development. IoT is not only about connecting people and objects it’s also about empowering people to “use” IoT in order to achieve their respective goals in a digital way. People and objects should be connected and enabled significantly to offer great solutions for the ultimate end-customer satisfaction jointly and at the same time boosts the use of IoT.

 

Linking people & objects empowers companies to penetrate into new business lines and also offers entirely next level services to their customers. By evaluating data from customers’ connected objects/products, companies can collect valuable feedback on how their products or services can be actually improved. This is what the next-gen level of IoT experience is all about: Utilising IoT data to enhance products and services – along with the newest IoT security approaches.


Internet of Things (IoT) holds huge potential in helping everyone how to better engage and satisfy end-customers. But that potential still depends largely on our ability to process and act on the data we’re gathering in such a way that it is meaningful and positive for our customer base. End-customer satisfaction gives an added advantage to the data.


Today, companies can easily find out their customer’s dissatisfaction, if any and take an action to improve it promptly. You can say the days of guessing about customer satisfaction are officially over.


The data generated can be used to provide enhanced after-sales service or predictive maintenance services. This data can also be analyzed to identify technical weaknesses or customer needs and helps to conceptualize and design the next product. The possibilities with IoT are just endless and will significantly boost customer satisfaction.

 

How Big The IoT Bubble Can Blow?

IoT is like present-day Darwin’s theory: companies can either crunch-in or crunch-out ineffective/productive product features, marketing campaigns, instructions—and even full set of products— in real time. Hence, your choice of either accepting or ignoring IoT as part of your customer satisfaction strategy plays a major role in making your company- the next Blockbuster.


Further, data allows you to contribute less time into ‘hunting for information’, and more time brainstorming on ‘how to use it’. The question is no longer, “Is this working?” Instead, it’s, “How can we make it work even better?”. As a player, if you incorporate IoT rapidly and smoothly then, not only you will be enabled to transform your business digitally, but also you will gain guaranteed end-customer trust and satisfaction.

 

Worldwide spending on the Internet of Things (IoT) is forecast to reach $772.5 billion in 2018, an increase of 14.6% over the $674 billion that will be spent in 2017. A new update to the International Data Corporation (IDC) Worldwide Semiannual Internet of Things Spending Guide forecasts worldwide IoT spending to sustain a compound annual growth rate (CAGR) of 14.4% through the 2017-2021 forecast period surpassing the $1 trillion mark in 2020 and reaching $1.1 trillion in 2021. <Ref: https://www.idc.com>

 

The core reason for IoT to gain so much momentum is that it allows you to track and monitor on-field product when it is with the end-customer. Here are five simple steps to make you an IoT-ready business which can wow your customers:


1. Determine the best use cases: Review and understand which products and services will benefit the most from IoT enablement.


2. Calculate the impact: Use existing data to study the financial impact of IoT on your products and services.


3. Conduct proof of concept: Implement IoT-based solutions to one product or a product-line to understand its impact on your business. Doing so will help you create a strong business case for an organization-wide IoT rollout.


4. Make a platform for customer data sharing: Ensures customer expectations are managed well, and they are informed in advance about the value they will get in exchange for sharing their personal data with you.


5. Create a strong IoT foundation: Assess your needs and build the foundation you require to manage the torrential inflow of data, to truly transform the post-purchase customer experience.

 

Conclusion:

The early-adopters will secure a strong competitive advantage, and win – the hearts of customers, a share of their wallets, and a greater chunk of the market.


Customers are not the only ones who will be benefited from a strong IoT strategy but also the data you gather will help you to create a clearer vision for your business, as well. IoT can help you build a digital ecosystem that is effective, organized, efficient, purposeful, with clear and significant goals that can truly accelerate your business.

-By Tina Dutts, GCR

 

About GCR - 100+ best IoT solutions and cloud services 
For more information can visit us at:
GCR
Knowledge Center
GCR Global Website

posted Dec 22, 2018 by Gcr Gcr

  Promote This Article
Facebook Share Button Twitter Share Button Google+ Share Button LinkedIn Share Button Multiple Social Share Button

Related Articles
0 votes

The internet of things is way ahead and gaining worldwide attention due to incredible advancements in it as time passes. The data is becoming more than the size of a Hulk due to the numerous connected data endpoints which give the most unparalleled insights. So, the question arises how we can tap the most of this generated data from all possible data streams? The answer is Artificial Intelligence – the new concept is the internet of intelligent things.

So, what are intelligent things?

We all know about the internet of things technology as it has become well known. IoT mentions the billions of Internet-connected devices all over the world. But, the whopping numbers of data that is continuously streaming through these devices is a considerable task to handle. So, here is where the internet of intelligent things saves our burden.

Earlier, experts have said that there should be more work on the utilisation of the internet of things where artificial intelligence would help in building better solutions. So, in recent years it has been pretty clear that IoT networks become more intelligent when combined with other autonomous technologies like machine learning and artificial intelligence. AI makes higher use of the extensive connectivity and more significant data streams which IoT devices can handle well.

What are the benefits that the AI provides?

Different solutions exist which can evaluate and understand IoT data, but machine learning and artificial intelligence can draw more detailed insights from this data and plan rapidly. Artificial intelligence can spot unusual patterns with higher accuracy with computer vision and audio recognition, thus, removing the need for a human reviewing system. Almost every business is aware of the benefits of IoT, but the enormous advantages of intelligent things are emerging right now. Enterprises can operate in unparalleled ways with intelligent things, consider three examples below –

Quicker responses

It is evident that the internet of things can help businesses in monitoring the operations at a detailed level and having deep insights into the daily activities of differently-sized companies. Nevertheless, there cannot always be a rapid reaction to this enormous data. With the help of artificial intelligence, businesses can be quick in reacting to the situations because AI crunches data at a faster rate and deeper perception.

Consider the example of Fujitsu has shown the use of intelligent things by getting alerts when the workers’ productivity drops, the reason being the heat stress.

Many banks can evaluate AI-enabled real-time data of usage of ATMs, with the analysis of automated CCTV footage. This analysis can result in tracking the fraud transactions and fraudsters.

Preventing failures and doing early maintenance

Industries can easily and quickly respond if any equipment fails. They don’t have to rely upon any human inspector or supervisor to notify them of any mishap, or any failure in a piece of equipment. All these happenings are reported promptly and the site gets an instant response. In fact, the AI-powered IoT technology can prevent the mishaps or failures from happening.

Consider the example of an Australian utility organisation. It is harnessing the power of prediction-based analytics which can use IoT data streams for predicting which reasons can cause a failure in an equipment/device. This helps in reducing the costs of heavy repairs by taking preventive actions early.

Upgraded level of efficiency

The vast number of data streams that IoT endpoints provide allows businesses to measure the performance of every component in depth. But, if someone needs to tap knowledge from all these streams at a faster rate, then intelligent computing is the answer.

Now, here consider Rolls Royce for example. It is using AI-powered computing for analysing the data coming from aircraft engines. With this data, Rolls Royce can make modifications in design and operations to reduce fuel consumption and get powerful performance.

Utilising the internet of intelligent things

It is crystal clear that IoT endpoints can give real-time data groups that bring superb advantages for businesses in a wide array of sectors. But, leveraging this data to acquire benefits is the real challenging task.

Though the impact of AI on our day-to-day lives is astonishing, we are still to witness the real combination of the internet of intelligent things and artificial intelligence, yet. It can prove as a real game-changer for almost every industry. To tap the real potential of IoIT (internet of intelligent things), you should have someone knowledgeable enough to guide you on harnessing the power of connected devices in full throttle.

0 votes

With the world moving fast towards being “smart” the possibilities are never-ending. With the combination of Machine Learning and IOTalmost everything is possible. We haven’t even started when it comes to applying internet of things. In the next few years the biggest inventions will be based on the IOT. And the best part is most of those inventions will not be made by scientists or doctors; they will be made by common tech-savvy people. Anyone, with an interest and knowledge in technology and a mind of problem solver can come up with new inventions that will help the entire mankind.

ELIGIBILITY / PRE-REQUISITES

-Basic Computer Knowledge.
-Knowledge on C / C++ / Embedded C wouldbe beneficial, however not mandatory.

Kindly contact on below contact number or e-mail id..

Would request to provide the contact number and email id so that can share more details with you..

Regards,
Manuja Ezhava(Career Developer)
E-mail:                 Manuja@collaberatact.com
Mobile/Whatsapp:               +91.7227048656
Facebook:           https://www.facebook.com/patil.yogesh.j

...