Good Or Bad: Ways The Internet Of Things Will Impact Your Business

Impact of Internet on Business:

We are on the brink of something huge and something that can not be stopped; the Internet of Things. The reason we are inclined to believe this is pretty simple, in the last 12 months alone the number of devices that are interconnected has gone up 35% with 6.5 billion devices commonly used. If this continues then that figure will double by the year 2020. It is one of the latest technology trends to grab the world. What this means for normal everyday life is massive because it could be the biggest technological revolution since the smartphone landed in our pockets.

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But it isn’t just everyday life that is going to be impacted. Oh no. If businesses want to stay ahead of the curve and ahead of the game then it is important to understand how to best manage the rise of the Internet of Things and incorporate it into your operational strategies.

That is why we have come up with some educated guesses at how the IoT will impact your business. Enjoy.

Your Awareness Will Be Magnified:

When it comes to managing inventories at the moment, almost all businesses use bar codes. This has been the norm for years and years now, but it is all about to change. With so many pieces of equipment, devices, gadgets, and products all using the same network, the world of managing inventories is going to become so smooth, smart and automatic that it will start being something we barely give a thought to. Not only will businesses have the ability to update figures around the clock, they will also be able to read the data involved and adapt accordingly too.

Data Will Become Overwhelming:

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Chances are, you have jumped on the data bandwagon and already have a tidal wave of the stuff to keep track of. Well, that tidal wave is going to seem tiny in comparison, which is something companies like have already begun to notice and offer support with. The depth in which you will be able to read this data is also going to vastly improve and will allow you to look at customers and their behaviors, employees and their habits and how your business operates. By improving your management capabilities in terms of both event and data handling it should be too overwhelming, though, and you’ll be able to turn these metrics into valuable information.

More Speed, Much More Speed:

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Know one knows where this Internet of Things is going to go or what it is going to swallow on its match through the world, but it potentially infinite. What this means is speed. Everything will be so much faster. Let’s take autonomous cars, which will most definitely be interconnected and thus fall into the category of IoT. Traffic lights, public transport, rerouting due to traffic, accidents, everything will become much more connected and thus much faster. How does this impact on your business? Attending meetings will become easier, deliveries and transport will become faster; everything. As explains, IoT will offer customer service that is faster than real-time. The consumer is already used to on-demand services and same-day delivery, but this going to increase. It will go from luxury to standard very quickly. Just be aware of that.

Living And Working Remotely:

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It has become a huge factor in the modern workplace thanks to the advancements in technology, especially in cloud-hosting and online sharing. That is why it has taken off and become a major part of reducing business costs while also improving employee happiness. Well, with the Internet of Things becoming more and more common, this idea of working remotely is going to be even more attractive. With every interconnected device being managed on a single network, businesses will be able to oversee entire productions using little more than a smartphone and an internet connection. It could be a retail store, a manufacturing business or just about anything. This may not happen immediately and may require some further development before this bridge can be crossed, but it is only a matter of time.

Management Complexities:

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For all the rainbows and unicorns that IoT seems to promise, the biggest issue to be aware of is the complexities surround this issue of managing devices. It is going to be a lot to keep all your different devices integrated with one another and up to date with the latest software releases and have a network that can maintain everything without any hiccups. Not just tricky either, but also expensive and full on. You’ll basically need to have an IT support team that specializes in this area. Still, it will be totally worth it because productivity and efficiency will be greatly improved and overheads reduced.


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