In the increasingly competitive technological landscape, data is the key for companies. They are so valuable because, when properly managed and analyzed, they provide the information companies need to innovate and grow. Thanks to the Internet of Things (IoT), higher quality data can now be captured faster and in higher volumes, giving organizations new opportunities to transform and improve their business models. What could the new possibilities of digital transformation and IoT mean for your business?
What is behind the IoT are the rapid technological advances that lead to digitization. The IoT offers unprecedented great opportunities for business growth and the development of digital transformation.
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The Growth Of Digital Transformation And IoT
Most IT innovation and decision-making companies plan to increase their IoT spending in the coming year. While most current use cases focus on IT applications, future projects are expected to focus on industrial applications.
Advances in digitization and rapid change in the IT market make technology products and services vulnerable. The ability to grow and adapt quickly to new technologies will determine the longevity of companies.
Now that operational technology and information technology have begun to interconnect, a lot of data that was previously unavailable or difficult to access is being captured and generated. Bringing digital transformation and IoT together means more informed decisions, lower operating costs, and improved production processes for the manufacturing industry.
- Artificial intelligence: data is only useful if you can act on it. Artificial intelligence helps make data actionable and supports enhanced IoT applications that enable predictive analytics. Artificial intelligence will continue to increase productivity and expand business opportunities beyond what was previously possible.
- Connected Device Explosion: There will be 80 billion devices connected to the Internet by 2025, according to the IDC forecast. These devices will generate 180 zettabytes of data per year, compared to 4.4 zettabytes in 2013 and 44 zettabytes in 2020.
- Cloud Technology: This technology is driving the growth of IoT by extending cloud capabilities closer to connected devices and facilitating the operation of computing, storage, and network services between end devices and cloud data centres.
How The Internet Of Things Enables Digital Transformation
New technological advances, digital transformation, and the IoT are enabling growth by strengthening current business models and creating new offerings, services, and products.
Businesses Will Use IoT For The Phases Of Digital Transformation In Several Ways:
- Increase efficiency and reduce costs: IoT can reduce costs and increase productivity through automation and process integration, one of its greatest benefits. The combination of data-driven information and integrated sensor systems presents the opportunity for companies to improve operations in multiple areas, including inventory and human resource management, security, energy and security compliance.
- Seeking New Business Opportunities: As companies gather and analyze massive data sets generated by IoT devices, they can gain a more accurate and complete understanding of your customers’ use cases and preferences. Unpublished knowledge from your offers can become new products, services and ways to create value for your customers. These ideas will also be used to proactively augment current products and services based on real-time data access.
- Better Customer Service: Simplicity and 24/7 accessibility are given to today’s customers. Big data analysis-enabled can help companies build a better platform, tool or strategy that will enhance consumer experiences through multiple points of contact. With a full understanding of customers, companies will be able to personalize your marketing efforts, positioning relevant products and services for each customer. On the service side, access to complex data in real-time will allow companies to optimize workflows and better react to urgent problems. These advances will free up staff resources to interact with customers and better anticipate your needs, improving satisfaction and commitment.
- Greater agility: Organizations acquire the ability to become more agile and respond more quickly to current trends and market demands. This frees up technology and personnel resources to focus on strategy and innovation.
Time To Transform And Innovate In Business
If companies want to remain viable, digital transformation is a must. The IoT is a primary factor, capable of revealing and unlocking value on a scale never seen before, if companies pay attention to the information obtained by the data and change your business models accordingly, the benefits are almost unlimited, and include huge savings, competitive advantage, greater operational efficiencies, greater commitment to the customer and many more advantages…
If you want to know more about the possibilities that your company can have to become a benchmark in digitization, do not hesitate to contact us to achieve increase the efficiency of your business thanks to digital transformation and IoT.