IoT can significantly improve ROI – Here’s How!

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With mainstream conglomerates using IoT services to dominate the market, businesses can offer 24/7 support for their customers, which has activated a rise in Cloud developments and migration, along with Big Data and data science evolutions.

So what actually is IoT?

IoT is the inter-working of physical devices, vehicles, buildings and other items embedded with electronics, software, sensors and network connectivity. IoT creates opportunities for a more direct integration of the physical world into computer-based systems. As a result businesses have received improved efficiency, accuracy and economic benefit without direct human intervention.

How IoT is transforming digital business…

As corporations continually progress their customer experiences, IoT is utilised to maintain the highest level of customer service vs. competitors, whilst maximising the productivity of the company.

IoT devices have advanced smart objects, which can now take part in a two way communication process, can control other devices, and can even react and advise customers with human intelligence. As a result IoT is drastically creating an array of opportunities to access information and data that would have been problematic and time consuming in previous years. Using this type of data IoT is not only vastly changing B2C relationships but also B2B marketing. Through the help of analytics and AI businesses can adapt to the ever changing consumer demands, and still deliver the ultimate customer experience.

With IoT in place companies will have a better insight into service consumption, behavioural factors and also operational factors. As an added bonus the technology has provided unity across several industries maximising the potential in the consumer reach. The next couple of years will certainly be exciting to watch, as we journey through such a drastic cultural shift!

 

Bankim Chandra

bankim@dotsquares.com

Dotsquares Ltd.

http://www.dotsquares.com/

 

If you liked this article, or perhaps you want to read more on how IoT and AI are transforming the digital industry then why not visit our news and events page http://www.dotsquares.com/newsandevents/ . Other recent articles we have published include… 

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