Why are companies integrating Internet of Things on their platforms?
Posted on February 20, 2018
Internet of Things has redefined the concept of ‘connectivity’ in business. A seamless connectivity between people and machines defines the integrity of a seamless business infrastructure. IoT has taken connectivity to the subsequent level, establishing a collaboration between machines. Millions of IoT devices are getting connected to serve dedicated purposes in business.
The IoT market is fast developing, and it has already made its way into the manufacturing, retail, hospitality, transportation and utility industries. Integrating Internet of Things on your platform will leverage the productivity of your business. The pioneers of the IT industry are keen on innovating new applications, that will connect the machines for a smarter business ecosystem.
The leading IoT application development companies have been efficiently collaborating with their clients, delivering customized solutions to them. Business firms across the globe are massively investing in IoT technologies. The IoT industry is projected to acquire $267 billion stature by 2020. Connected things enhance the exchange of information, which is a priority for business firms, regardless of their origin and nature.
A sound IoT infrastructure in your business ensures secured access of data on your platform. Integrating IoT applications on your platform can streamline your business. The end-to-end IoT solutions establish an agile operational mechanism for your business.
Here are reasons, leading to the integration IoT solutions on various business platforms.
In the competitive business environment, business firms find it challenging to retain the customers for long. With the inception of IoT in business, business firms are relying on the leading companies for IoT application design. Internet of Things can leverage the customer retention capabilities of companies to a great extent, enhancing the simplicity, ease and convenience in the industry.
Today, customers expect personalized services, and IoT has tremendous potential to improve the customer services. For instance, air filters used by customers need to be replaced from time to time. The company can send the replacement filters automatically, when they are needed. Business firms from all domains of the industry can reap the benefits of IoT for customer retention. Intel predicts that the world will have more than 300 IoT connected devices by 2020.
Better purchasing mechanism
The eCommerce business firms are embracing IoT solutions, as it delivers a better marketing mechanism to the business firms. Customers will have more connected devices, that are capable of making purchases. Besides, it is important to make the purchasing mechanism mobile-friendly.
The IoT solutions will enable business firms to acquire and process the necessary information in quick time. These include information like credit card details, phone numbers, email addresses, social medial profile data and so on.
Besides, the IoT devices will strengthen the internal operations within the business. In eCommerce companies, IoT can leverage the replacement mechanisms. The insightful approach of the leading companies, providing IoT solutions, deliver a flawless business infrastructure for your company.
Predicting purchasing habits
Retail store, online shops and other B2C companies can shape their marketing strategies, based on information obtained on purchasing habits of the customers through IoT. The IoT applications can evaluate the preferences, routines, patterns of shopping and other information, which can help business firms predict the purchasing habits of their customers. Even when you deal with B2B models of business, you can anticipate the needs of your clients by integrating IoT solutions on your platform.
This can prove effective in providing customized services and products, that suit particular situations. IoT ensures a simplified data analysis and compilation mechanism for your business.
The manufacturing industry is focussed on IoT application development, as it strengthens the process optimization on their platforms. Process optimization involves a number of crucial departments within these organizations.
From supply chain management and operational management to equipment maintenance, IoT can simplify all these processes by establishing a fool-proof connectivity on your platform. By integrating CRM and ERP to the internet, the exchange of information will get a boost. Companies can benefit from faster inventory management and exchange other vital information in real time by integrating IoT solutions on their platforms.
Optimizing the costs
Cost optimization is one of the key reasons behind the integration of IoT on business platforms. It ensures maximum utilization of the assets, thereby bolstering the productive output of the company. Integrating IoT solutions on your platform can cut down the expenditure to a substantial extent. For instance, real-time diagnosis and predictive analytics can help business firms in reducing the maintenance costs. Evidently, IoT can help companies maximize the benefits of the available resources.
Well, you may reach out to an established company for IoT application design. A customized solution for your business can go a long way, leveraging your internal operational and marketing mechanism. Besides, IoT is being integrated in almost every industry. 75% of the new vehicles coming up by 2020 will have built-in IoT functionality. Hospitality, housing, retail and other sectors, too, can benefit from IoT solutions. At Octos Global, Get across to the reputed developers to get a seamless IoT solution for your business.