The Internet of Things and the Future of Enterprise Computing
As the accelerating growth of new technologies continues to change the enterprise landscape, businesses face the choice to either adapt or risk missing out on vast opportunities. The integration of embedded technology into physical objects will soon change how we interact with the world, from a few smart products to entire cities.
The “Internet of Things” (IoT) is a phenomenon describing the increased connectivity between objects through embedded software and sensors that allows for a more efficient collection and use of data. The growth of IoT and machine-to-machine technologies (M2M) opens the door for endless possibilities for enterprises and consumers everywhere. The potential of IoT spans as far as the human imagination, as it can be applied to a limitless number of objects in a countless number of ways.
Enterprise Mobility Exchange’s recently published report, “The Internet of Things: Harnessing the Power of an Ever-Connected Enterprise,” discusses how businesses benefit by adopting IoT into their operations. The report, sponsored by Panasonic, describes how the use of IoT solutions saves time, improves job performance and increases worker productivity, allowing for a greater ROI. Enterprises from a diverse range of industries can benefit by integrating IoT solutions to meet their own unique needs. For instance, the retail industry can benefit from IoT technologies such as digital signage and intelligent shelving solutions. Digital signage can use information about a customer’s past purchases to tailor offers and product recommendations based on their preferences, allowing for a more personalized shopping experience. Intelligent shelving solutions can increase operational efficiency by using sensors that alerts retailers to an out-of-stock situation in real time.
The increased collection of data creates opportunities for insights that were previously unattainable. For example, retailers can use cameras with heat-mapping technology to track the most high-traffic areas of a store – allowing them to efficiently deploy staff to that area to minimize customer wait times. The data collected by these technologies is essential for understanding what customers want and how to increase their overall satisfaction. IoT solutions can also be used to improve worker safety and increase overall employee satisfaction.
With new technology comes new challenges and risks. Security will inevitably be a concern with IoT due to the interconnectivity and complexity of the technology. Enterprises must approach these challenges with caution by setting new measures in place to ensure consistent and reliable security. Resistance to new technologies can also hinder a company’s ability to fully capitalize on IoT solutions. Employees may be reluctant to use new devices and additional training may be necessary. This issue applies to executives as well; unwillingness for executives to take risks could hurt their company’s ability to remain competitive.
The future role of IoT solutions in enterprise is not just a trend, but rather a crucial investment for businesses to quickly consider. As noted in the report, IoT revenues are predicted to reach $4.3 trillion by 2024, less than a decade away, according to Machina Research. The real-time data, analytics and information that IoT offers can provide immense advantages for businesses and consumers. However, IoT can only reach its potential if enterprises allow themselves to fully capitalize on it. This new technology offers access to information unlike ever before, but how businesses understand and use the data matters the most.
Click here to download “The Internet of Things: Harnessing the Power of an Ever-Connected Enterprise” by Enterprise Mobility Exchange.