What will the “Internet of Things” mean for YOUR business?
The Internet of Things is one of the biggest buzzwords in tech at the moment, and is emerging as a rapidly growing market. While the focus at the moment is on personal use, such as smart watches, soon the Internet of Things will be ubiquitous in our working lives.
It is estimated that by 2019 the Internet of Things market is set to double the size of the smartphone, PC, tablet, connected car, and the wearable market combined. As a start-up, the Internet of Things could boost your business, at present 8 in 10 small businesses believe the Internet of things will bring fresh opportunities to their enterprises.
What will the Internet of Things mean for start-up businesses? At a start-up level, many of the key components to a company are spread in different sites. The Internet of Things allows entrepreneurs better visibility to all aspects of their business regardless of location, including tracking effectiveness and efficacy from one end of the supply chain to the other.
The key thing with the Internet of Things is that it allows start-ups to connect more devices to the Internet, providing greater feedback and intelligence data to work from. Using and processing more data can help a new business to improve the efficiency and effectiveness of their operations.
When starting a business, costs need to be kept to a minimum. The Internet of Things allows start-ups to leverage additional data to reduce costs. Delays in response time, process inefficiencies, and human error all drive higher operating costs for businesses. The right combination of connected devices, infrastructure, data analytics, and processing can help companies reduce these costs.
From a brand perspective the Internet of Things provides an exciting opportunity for marketing and feedback. Wearable devices will allow companies to digitize their customer base, which provides companies with efficient feedback on behaviours and reception of their products.
This infographic from Exigent Networks charts the rise of the Internet of Things, examines what it will mean for businesses in the future. From examining the benefits to how the Internet of Things has already successfully being harnessed by some of the world’s greatest businesses, the graphic demonstrates just how business is changing and adapting with technology.