What is the Internet of Things?
The Internet of Things (IoT) is an interconnection of smart devices ranging from computers to automobiles and even home appliances via the internet. But frankly speaking, it is more than just “a connection of things.”
Looking at how internet technology has evolved over the past decade, it is logical to deduce that IoT is the heart of significant innovations in smart communication.
IoT impact on small businesses
IoT is an emerging technology where for instance all devices in an organisation can not only be interconnected but also communicate amongst themselves and the user. What comes to the mind of any entrepreneur before adopting new technology is whether it would save costs, increase customer outreach, reduce bureaucratic procedures and help the company achieving its goals.
Vast interconnection of devices in a business environment with the help of IoT technology is key to saving costs in the businesses of today. A clear-cut example is the ability of e-commerce software to keep track of inventory and make supply orders automatically on demand, or better yet, surf the internet for the best prices, make an order and then alert the management for approval.
One of the greatest achievements of online shopping and e-commerce is the ability to earn a customer’s loyalty by providing tailor-made services coupled with convenient shopping. Internet of Things is an internet technology that has the capability of raising this bar a notch higher. With the capacity to integrate all devices and user accounts that are at the client’s disposal, a business will be able to meet the needs of its customers at an individual level thereby earning their loyalty.
Monitoring and scheduling
Internet technology IoT together with cloud computing enables management to monitor the activities of the business. They can work remotely and still be on top of everything from production to sales. IoT also enables scheduling of maintenance works to machinery with zero or minimal disruption of service delivery in the business.
Internet technology has greatly influenced how business is conducted to the benefit of both the consumer and businesses, and the future holds great promise in this respect. Of the emerging technologies, research shows that IoT is the one that is most likely to be adopted by businesses in task automation and efficient business management.
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