Role of IoT in Digital Transformation
Digital Transformation can be explained as the implementation of digital solutions into almost every business aspect, changing the way you operate, interact, and deliver to your customers. To be precise, you’re changing the fundamentals of the system, replacing the old and traditional solutions with advanced digital ones.
While talking about Digital Transformation, one must give special attention to the Internet of Things. As already seen in many related industries, IoT had brought radical advancements to the Digital Transformation. Furthermore, IoT not only plays a major role for the companies, but also for the users as well. It basically offers a win-win situation for both the parties involved. IoT may be helpful from some most basic tasks like PC cleaning & optimization to most advanced digital transformation ones.
How IoT is Enhancing the Digital Transformation?
To discuss further about the role that IoT plays in the Digital Transformation, Continue reading to find out more about the factors that are responsible for co-ordination of these two aspects:
· Expansion of IoT beyond IT
A reputed research survey by the 451 team has already projected an estimation that IoT technology will be deployed into many industries beyond Information Technology. Furthermore, it is expected that spending on IoT will increase by about 18% in the next few months. Several industries have already seen the potential of this technology, which is why they’re optimistic about implementing it into their digital infrastructure. Many industrial giants such as Siemens and Schneider, GE, and several others are already investing billions of dollars in their IoT sectors. So, it is safe to say that Internet of Things is going to take over many industries.
· Many Benefits of AI
Well, over the past few decades, many industry experts have come to realize that data is the most valuable asset of a business organization. But, it stays that way only if the data is actionable. Here, IoT takes assistance from the artificial intelligence, as it is the technology that enhances the ability of IoT applications and devices in sophisticated data analytics. The collaboration of these two technologies will improve the business opportunities and productivity that hasn’t been seen before. These two technologies work in conjunction, which is why they were already able to disrupt many industries.
· Improves Efficiency and lowers costs
One of the major aspects that paved way for the exponential growth of IoT implementation is its ability to cut down costs and enhance efficiency and productivity. It does this by integration and automation of several processes. The availability of advanced analytics and sensor-embedded systems make it possible for this technology to provide several opportunities for the business organizations in enhancing several areas which include and not limited to security, energy compliance, security, inventory, and many others. Furthermore, businesses can now save a decent chunk of money by integrating this technology into many key sectors of their operations.
· Better Customer Experiences
When it comes to business operations, one of the most important elements is the customer experience. Your business progresses only if you provide satisfactory experience to your customers, which makes them return to you. With assistance from IoT, you can seriously enhance this aspect of your business. Combined with Big Data Analytics, the Internet of Things sector can help you advance your tools, platforms, and strategies. With a much better understanding of your customers, you can customize your marketing strategies that suit your target audience the best. Real-time data can help you react to urgent scenarios in a better way.
· Expansion of Connected Devices
According to forecast made by IDC, it is expected that we’re going to have over 80 billion connected devices by the year 2025. If that happens, these devices will produce 180 zettabytes of data each year. This forecast basically showcases the rapid increase that’s happening in the multiple inidustries that are integrating IoT in their operations. The more connected devices we will have, the more powerful this industry is going to be. Furthermore, with such exponential rise in numbers, we can simply expect more innovations and upgrades to be generated. We can safely assume that this technology is already having a huge impact on the digital transformation.
The IoT and supportive technologies are paving the way for the rapid increase of digital transformation. It not only enhances the current operations, but also provides various opportunities as well. Through IoT implementation, a business organization can automate several key aspects of their business operations, thus saving money and increasing efficiency. If you’re a business owner as well, try to educate yourself about how IoT can enhance your business and various benefits it offers. If you have any doubts or opinions about this topic, feel free to let us know by commenting below.
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