A while back, we wrote about how IoT technology will shape your business’ future. Yet, these changes aren’t just something to think about “down the line.” From tracking assets and inventory to gaining customer insights, advancements in IoT are already transforming how we do business today. (More on the basics of IoT here.)
In this post, we’ll cover three popular solutions that have the ability to revolutionize virtually any kind of business.
3 IoT Solution Revolutionizing Business
IoT has made it easier to automate more than ever before. Automated guided vehicles, for example, quickly and efficiently move inventory within many of today’s warehouses thanks to networked IoT devices. This not only reduces manual labor costs and risk of injury, but also makes it possible to automate the task of space optimization.
Speaking of optimization, automation is also assisting with equipment maintenance. IoT devices can automatically track when machines are serviced and alert managers when it’s time to perform preventative maintenance. They can also monitor for performance issues or indications that equipment is in need of repair. For the manufacturers of these machines, this kind of data can even provide insights that help improve future product design.When a business automates the right processes, it cuts down on human error, increases efficiency, and gains insights and data that can inform decision-makers. It also increases uptime, improves safety compliance, and strengthens access control and security. This can make all the difference for businesses working to stay competitive.
In pairing artificial intelligence and automatics, IoT has greatly improved the way dash cameras are used within fleet management.
AI cameras help keep an eye on driver distractions such as texting or eating while driving, along with determining more complex patterns that may result in dangerous vehicle accidents. These patterns, such as taking sharp turns, are annotated using telematics, and computed into a message to notify the driver and business owner of their risky behavior.
AI dash cameras can also detect if the driver is maintaining a safe distance between their own vehicle and the one in front of them, sending an alert when a short distance poses a threat.
According to Netradyne, some AI cameras can even detect if a driver is drowsy or falling asleep at the wheel by using advanced facial recognition technology.
AI cameras also play a crucial role in providing footage of any accidents that do occur. Using multiple AI cameras, footage can be captured from all angles, helping to determine the cause and who is at fault.
While the average consumer is familiar with GPS’s usefulness for driving directions, businesses are pairing it with IoT technology in a few ways to improve operations. This pairing is known as telematics. When it comes to tracking assets, GPS and telematics make it possible to get real-time location updates and a detailed journey history. Additionally, of course, drivers use GPS to find the most efficient routes for transporting and delivering assets regardless of weather or traffic.
In the case of theft or missing items upon delivery, GPS-enabled IoT devices can help locate assets quickly for recovery. If missing items are a common issue, GPS journey histories can identify weaknesses in the supply chain where preventative measures should be taken. Over time, the data gained about a supply chain thanks to GPS and the IoT will lead to better decision-making about routes and transportation policies and procedures.
From the consumer perspective, GPS also helps potential customers find the businesses they need. By maintaining an updated map listing on search engines like Google, executives ensure that when consumers use GPS to find a business near them, the results include their company.
When implementing your solution of choice, it’s important to keep customer expectations top of mind. According to Gladly’s 2019 Customer Expectations Report, customers want real-time communication and insights, and as customer experience becomes increasingly important for retention, this expectation is growing evermore critical.
Implementation should also be at the forefront. Many solutions require a capable network, budget, and security team, as well as testing and maintenance. Ultimately, adequate research and resources ensure a strong foundation that sets your solution up for optimal success, helping to gain a leg up on competitors.
What to Expect
With the help of these solutions, businesses have more insights and more efficient operations than ever before. As customers and business partners come to expect detailed data and real-time communication, IoT will soon be less of a differentiator, and more of a requirement for companies to be successful.