IoT is a well-known term, but its positive impact on business is still a shady matter till now. Not a lot of us know exactly how IoT integration is going to help us to grow and expand our businesses. However, throughout the world, IoT is changing industries and businesses for the better. 

The advancements in IoT technology has already given birth to two concepts- smart home and smart city. So it goes without saying that smart businesses are going to be the next thing. So how is IoT going to become so important for your business growth? Let’s take a look. 

Why IoT Is Going To Be Important For Business Growth

Of course, when we are looking at the IoT landscape, its application as smart home devices and smart city controller seems reasonable. But if we look at all the benefits of IoT then we will see why exactly IoT is going to become important to drive better business growth and generate better revenues.

1. Data Collection

The first reason why IoT is going to become important for your business is its data collection feature. The interconnected devices and sensors all work by collecting and transferring data. And this data is going to be incredibly valuable if you want to improve your business. 

This IoT data can be collected and turned into precious business insight. This insight is going to include everything, from how users are using your product or service, what other features they might need, what kind of problem they might be having and much more important information. 

This business insight created from various data streams is going to become the number one reason why IoT is going to become important for your business growth.  

2. Improving Engagement With The Consumers

The business insight you have already created is going to help you to increase customer engagement and drive up the growth and reputation of your business. This is going to help you to understand your client base and how they are utilizing your product or services. 

Using this business insight you can easily figure out the best way to connect with clients and understand the kind of content you need to push towards them to create a better and meaningful connection with the clients. 

3. Predictive And Improved Performance 

One of the important, if not the most important reasons for IoT integration in the business sector is the predictive and improved performance. If your business includes the usage of heavy machinery, then with the real-time maintenance reports generated by IoT devices and sensors it’ll be easier to keep track of their health. The IoT devices can collect data and analyze them, and then share that data with other devices on the same network. In case any device is not working properly, they can instantly report that to the organization and proper steps can be taken. 

Not only detect and report a problem, but a sophisticated enough IoT system would also be able to fix the problem, order the part that is needed or assign someone to fix the problem. This type of predictive maintenance is going to save a lot of trouble for you in the future. 

4. Efficiency And Productivity

With proper IoT integration, you can easily figure out the ways to boost your business efficiency and productivity. According to a recent study, businesses have found that Industrial IoT will boost revenues by $154 million.

Productivity is obviously an important matter when it comes to the growth of the business. With IoT, you can not only improve labor efficiency, but you can also provide training employees and match their skills with specific tasks to get the most out of them. Along with that, using IoT you can create a better workplace environment for your employees like Ford is doing with motion tracking suits for their workers in Spain to design better work stations and reducing injuries. 

IoT And All The Ways It’ll Grow Our Business

Now that we have looked at some if not all the reasons why IoT is going to become important for business growth, let’s look at how it is going to help various businesses, industry-wise. 

1. IoT And Manufacturing

The extent of IoT application in manufacturing and warehouse management has made it necessary to create a special term called Industrial Internet of Things or IIoT. It has been digitally transforming the manufacturing and warehouse management industry. with the use of IoT devices and sensors, you can design and build a better-automated assembly line, and improve the working conditions for the employees too. The predictive maintenance feature provided by the IoT sensors, it will be easy for you to prevent any kind of technical issues from arising. 

IoT sensors can help you to easily track and locate any produce at the warehouse. Keeping up with the inventory and placing orders when needed is also helped along by IoT application in Android or iOS

2. IoT And Agriculture

IoT is changing farming into smart farming, with the help of sensors, drones, cloud platforms, and many other monitoring solutions. These IoT services facilitate and improve the processes of farming and taking care of the livestock. 

Rather than depending on the old traditions and ways of farming, the farmers today are able to use smart farming techniques to track the weather and land quality, soil composition and track crop health and growth progress. Added to that there are also greenhouse automation systems that give you complete control and comprehensive care over the plants, over lighting and irrigation system. With IoT, it has become easy to monitor the livestock on the farm, track their health and their location as well. 

3. IoT And Utility Industry

The utility industry, such as power, water, and gas has been using IoT in several ways to improve the inner workings of the industry. 

The IoT sensors are being used to monitor assets remotely and detect any technical problems that might be arising. This way the problems can be addressed and fixed, reducing downtime due to unscheduled maintenance issues. IoT sensors can also be used to identify safety issues before they become harmful for workers and equipment, increasing security levels. 

With the integration of IoT, the Utility industry is also seeing a better process optimization through plant automation. Not to mention these sensors are also providing accurate billing procedures by tracking consumer usage. 

4. IoT And Healthcare

Enhancing the healthcare industry standards, IoT applications have only improved the kind of care and treatment patients receive. IoT devices have now made it easy to remotely track patients’ health, making sure they receive the proper treatment in time. The application of IoT in the healthcare industry has created a more personalized approach to analyze and battle health issues. 

Not only in treating the patients, but there is also another application of IoT in healthcare. In hospitals, IoT healthcare has been used to track medical equipment throughout the buildings, monitor the state of hygiene, and track healthcare specialists and doctors in the hospital. The sensors are also being used to keep track of the environmental state of medicine storage. 

Conclusion 

So how is IoT going to help you grow your business? 

The answer is, in every way. The infinite data streams generated by IoT devices is going to give you better insights into your user base, and you can improve and optimize your service accordingly. No matter which industry you are a part of, you can use IoT to grow and expand your business. So don’t wait, plan IoT integration into your business today, right now.

Author's Bio: 

I am a marketer and love all things tech. I love to write about my learning and experiences, especially about Blockchain development, IoT, AI, Android & iOS app development etc. as they fascinate me about how machines and humans are coming closer than ever before. You can find me chilling beside a pool, with a glass of martini, when I am off my work.