Being ready for the Internet of Things on 2020 means you also prepare for the loss. Internet of Things is still reaching to the top and many companies are trialing Internet of Things to get the same goals which is $71 Billion Investment.
Until 2020, we will keep seeing the changes of our life in daily basis or with business industry. Internet of Things will take part of the changes that we will be seeing in the next 4 years. It is also obvious when IoT take part there will be 2 options for the businesses. Either they will grow bigger or cannot compete.
See how Internet of Things is Changing your business here:
1. Real Time Update
The real time update get you a brief analytic of your business. Each details such as inventory, workers, or customers. By adding sensors and connect all of your assets with the same network, update will be instantly delivered to your desk, or even your hand.
It helps business leader can make decision faster and the analytics helps them see their next target. Remote work will also be easy to do because of this. Decision making that’s taken is already based on valuable data. These data is delivered to your desk that way you can see what’s your customer want.
2. Faster Execution
With the real time update, it helps you go through every details faster and better. You can cut the process of reading market habit that requires long time and collect the interest of your customers. With all the data collected, this can impact your company to do faster delivery. On one hand, this will be a luxury — you’ll get you what you need faster — but it also means customers will expect and demand faster, more efficient service.
3. Reducing Production Cost and Energy
Internet of Things is not just collecting data. With IoT in your system, you can make your machine to work faster and smoother. It becomes that smart machine which can think of a way to produce more high quality product in less time. Energy used will also be saver with IoT.
Your company will likely spend less money and energy yet still manage to deliver high quality products.
4. Increasing Productivity
Every of these easy access, your company can increase productivity better with low expenses. The cost of upgrading all your devices may be initially steep, but you’ll end up paying less for staff, and you should be capable of producing more products
5. Some Companies will Win or Lose
Friendly reminder that Internet of Things is still fresh. But once it gets to be a mainstream industry in every business, you’ll see that some businesses will survive and get to be bigger, but others might lose. Pay close attention to how your industry develops, and be prepared for some major changes.
Right now, many industries is joining Internet of Things and innovating. By 2020 they will be ready to see the actual impact of IoT in many sectors. You may wanna consider to add Internet of Things into your system from now on. There’s nothing wrong in innovating your business to get a better result in the future.