A staggering 10 billion devices interface directly with the Web. The number continues to grow, driving a range of enterprise trends including automation, Big Data and mobility. These trends instigate a paradigm shift in the way enterprises create value and deliver results. Connecting the Internet of Things (IoT) to the enterprise has created unprecedented new value pools, transformed business operations, displaced incumbents and yielded a trillion-dollar economic impact. The IoT revolution is here to stay and poised to become more pervasive in the enterprise sector with endless value propositions:
Cloud-Based Automation Control
Adding value is about focusing on mission-critical business operations and eliminating wasteful efforts on mundane manual tasks. Business organizations can use advanced IoT applications and gateways to connect legacy industrial devices with the cloud-based world of IoT. These devices generating real-time data can be programmed to automatically perform desired operations when certain conditions are met and empower employees to control the devices from across the corporate network. The distributed intelligence and control allows the workforce to focus on core business operations, eliminate costly human errors and optimize machine operations.
The ‘Cloud Wars’ taking place right now between Microsoft, Amazon and Google have created huge opportunities for business looking to manage hundreds or hundreds of thousands devices remotely and affordably
Intelligent Decision Making
The ability to act on real-time insights on internal business operations can transform cost centers into profit centers. Data from IoT applications helps organizations discover what exactly is happening, determine root causes and effects, predict future outcomes and prescribe appropriate best action plans. The IoT Big Data has extended the realm of business analytics to enable intelligent decisions based on true insights yielding invaluable competitive differentiation. Connected devices also establish feedback loops with the existing customer-base to return real-time usage information and performance statistics. Devising strategies based on this information is crucial for optimizing service quality amid rapidly changing and otherwise unpredictable customer preferences and market trends.
Mobilizing the enterprise streamlines workflows, boosts operational efficiencies and deepens customer connections. IoT enables these capabilities by connecting the workforce, devices and processes. Connected IoT devices transmit information to centralized cloud-based data repositories in real-time. Employees using wearable gadgets connected to the corporate infrastructure can access information and control connected machines remotely. The resulting enterprise mobility transforms siloed departments across geographically disparate locations into unified organizations with real-time collaboration among devices, infrastructure and employees. IoT applications and Machine-to-Machine (M2M) connectivity constitute the underlying foundation of enterprise mobility that emerged as a leading initiative for business organizations in 2015 and is only expected to rank higher in preference for years to come.
Salesforce CEO, Marc Benioff, has already begun a push into the Wearables space with their Salesforce Wear product fund
New Revenue Streams
IoT applications allow organizations to institute processes that yield fast response to customer requirements, create new value streams. Real-time IoT data on mission-critical systems enhances visibility across siloed departments for on-the-fly up to achieve operational excellence and align all processes with business goals. IoT-enabled services tailored to unique customer requirements lock-in customers and help create additional revenue streams on top of traditional product offerings to increase profitability.
Business organizations are in a constant struggle to maintain profitability while complying with stringent global regulations. Improving safety, reducing risks and meeting regulatory requirements tends to limit innovation and increases operational expense when organizations have limited information and control on technology and processes. IoT applications such as alarms, sensors, tracking devices and monitoring equipment connected to cloud networks allow organizations to protect sensitive assets. Wearable technologies monitoring health metrics ensure that employees are not incapacitated from potentially hazardous work conditions. Other areas of internal organizational improvements with IoT applications include enhanced resource and capacity utilization, inventory tracking, disaster planning and recovery, downtime minimization and loss prevention – the list goes on.