A touch of a button here, a voice command there, a data sensor over there - it’s the Internet of Things. Businesses are projected to be the first to implement IoT into day-to-day activities - and they already have been. Let’s face it, the IoT is going up everywhere. From your smartwatch to food to infrastructure to insurance, the development and implementation of IoT is growing. Businesses have to plan ahead to make sure their devices draw consumer attention. The benefits are extraordinarily helpful for business growth and production.
The biggest challenge companies face today is the communication between the business and the consumer, or B2C. IoT enables businesses to sense and respond to the massive amounts of data that consumers create, and in turn, can help businesses seek to understand the individual. IoT devices sense and respond to the consumers who are using the product, the data is collected and analyzed over a period of time which speeds up the production. This carries over into predicting the way consumers respond. This will certainly increase production and revenue as contact with consumers can come directly from the IoT devices.
For instance, someone with a wearable can get ads, suggestions, and locations of places they’d want to eat at, work at, play at, you get the picture. The medical apps they use can carry over into insurance companies responding more quickly and effectively to get a situation handled. Even a hole-in-the-wall coffee shop can pick up a person’s regular drink when they’re in the vicinity. Efficiency and speed are key. Intelligent machines can get a product out faster (think: Amazon drones) with the click of a button from the consumer. It’s fast and it’s now. Consumers are constantly creating data and intaking it. With the IoT, sensing and responding happens more quickly and more effectively. This communicates a lot to the individual and makes them keep coming back for more.
There are other things to keep in mind as well, IoT security and privacy concerns. This is the major topic of criticism. The IoT can help in that regard as well. A security device can track an intruder and proceed to extract them. An individual may suggest a hacking on their device, with a quick click, and businesses can respond with fast (and accurate) customer service. Customer service is a huge thing that consumers don’t want to deal with. If implementation of IoT can enable businesses to predict paths of consumers, they should create a trustworthy quick-action customer service to keep consumers and gain new ones.
IoT enables businesses to sense and respond more quickly by receiving a command from the consumer device, performing the command, all the while intaking the data needed for the command and analyzing the data given. It happens so fast that businesses will decrease the need for production and increase the need for B2C communication - security, privacy, and customer service. Again, speed and efficiency is key, but so is communication and trust. The Internet of Things is already taking over - businesses will be the first to try it on, and for good reason.