Businesses worldwide are seeing the potential of IoT (Internet of Things) and its promise to streamline communication. It is forging deeper connections with customers and enhancing operational efficiency. As more companies realize the positives of adopting IoT, many speculate what it could mean for the future.
IoT is shaping companies’ strategies and formulating communication efficiencies to benefit you in numerous ways. Here is how to incorporate it into your business model.
What Is an IoT Device?
IoT devices connect to the internet and share information with other devices and people. Businesses use these technologies to relay information to each other and send data for improved decision-making. They also make humans’ lives easier. For instance, you may have used a smartwatch to track your workouts or used your smartphone to control your home’s temperature.
These IoT-based smart devices enable businesses to operate more efficiently. For example, a store might use a smart security camera to indicate when customers enter the store and alert staff to open another register. A factory might also use machine sensors to tell when parts require maintenance or a replacement.
“Experts predict the number of smart devices will grow from 15.1 billion in 2020 to 29 billion by 2030.”
Businesses with IoT devices work smarter, not harder. Experts predict the number of smart devices will grow from 15.1 billion in 2020 to 29 billion by 2030. When companies invest in smart devices, they save time and money operating more sustainably.
How IoT Devices Work
IoT devices work similarly to sending a text message via a network connection. They have sensors and software for collecting data from their surroundings, such as temperature, movement or even how much food you have left in your fridge. They then transmit the information over the internet to other devices or people who need it. This helps businesses understand what is happening so they can make the next move.
“Approximately 95% of the data they send across the internet is unencrypted.”
While these smart devices benefit businesses in the information they share, their security does contain vulnerabilities. Approximately 95% of the data sent across the internet is unencrypted. This makes it easy for hackers to intercept and steal information for personal gain.
Luckily, IT professionals know how vulnerable these devices can be for companies, so they add strong security features for protection. Although this may require more hardware and complex software investments, it can keep customer and company data safe while preventing hefty financial losses.
How IoT Devices Help Businesses Communicate More Efficiently
Despite some challenges related to IoT devices, businesses benefit strongly from this technology for communication efficiency in the following four ways.
1. Real-Time Data Access and Sharing
Imagine knowing what is happening in your business at any moment, such as which products are flying off the shelves. IoT devices act as the eyes and ears of a company, collecting information from their environment and sending it directly to the cloud.
This helps companies reduce guesswork and allows everyone access to the same information. Company leaders can prioritize strategies more quickly while everyone remains on the same page.
2. Automation and Workflow Optimization
IoT devices can streamline routine, time-consuming tasks. Through their ability to monitor environmental conditions, they can adjust equipment automatically. This allows more time to focus on critical tasks — such as collaboration and smoother operations — requiring human insight and creativity.
Moreover, IoT optimizes workflows by identifying bottlenecks within a company’s system. With data collected from various stages of a production line, businesses can pinpoint where delays occur and why. As a result, companies may adjust their processes accordingly, ensuring the information and materials flow well. While this speeds up production, it improves departmental communications by addressing problems before they cause wider disruptions.
3. Predictive Maintenance and Downtime Reduction
One of the most impactful ways IoT devices enhance business communication efficiency is through predictive maintenance and downtime reduction. This is because IoT devices are constantly monitoring equipment conditions and performance.
“According to an IBM survey, unplanned downtimes cost businesses 35% more per minute in productivity and revenue than planned downtime.”
As such, warehouse and manufacturing employees can anticipate equipment failure and schedule maintenance before an expensive breakdown occurs. According to an IBM survey, unplanned downtimes cost businesses 35% more per minute in productivity and revenue than planned downtime. Adopting IoT for these purposes enhances operations, ensuring communication channels stay open while saving money.
This works by attaching IoT sensors to machinery to collect data on various parameters, including temperature, vibration and noise levels. Advanced algorithms analyze this data to identify patterns indicating potential problems or upcoming failures.
4. Enhanced Customer Communication
With real-time data, businesses can use IoT to connect with customers through efficient, personalized interactions. For instance, smart devices give customers up-to-the-minute information about their orders, reducing the need to call customer service for updates, streamlining communication and improving satisfaction.
Furthermore, IoT enables proactive service delivery. When the technology monitors product performance, companies can identify issues for the customer. One example is a car manufacturer alerting a vehicle owner when it’s time to schedule maintenance. Customers trust this type of communication because of the business’s commitment to safety and well-being.
Achieving Greater Efficiency in Business Communication
IoT devices are changing how businesses communicate through real-time data, predictive maintenance and more. As companies integrate IoT into their strategies, they unlock growth and stronger customer connections. By leveraging IoT’s potential, you can stay competitive and responsive in a rapidly evolving marketplace.
