Is Your Business Ready for the Internet of Things?
“The Internet of Things” sounds mysterious, but it refers to today’s reality: devices, gadgets, and everyday objects connected to the internet via embedded technologies.
The IoT, as it’s referred to, is expanding rapidly and is expected to reach far beyond watches that track our health stats and thermostats that learn our comfort levels. The IoT is in cars, hospital equipment, shoes, cash registers, trains, and on and on. We are finding new ways to connect things, collect their data, harvest that data, and feed it to other things. So what does this mean for you and your business?
The Internet of Opportunities
Businesses need to figure out how to translate this hyper-connectivity to the customer experience. The move to the cloud is intrinsic to the IoT. This means less hardware, more data, and easier customization.
To take advantage of this pivot, ask yourself these questions:
- Can your offerings be purchased via subscription? The rise of the subscription model will continue to influence how consumers view commerce and convenience. The sale of physical products will decrease in importance as services become more and more prominent. More and more, your revenue will come from the services you offer.
- Can everyone in your company get the data they need? The IoT will bombard your business with information. But unless you know how to organize and distribute that info to the right people on your team, it won’t help your business grow. You’ve got to have the business intelligence in place to make it work.
- Are you ready to educate your staff? The growth of the IoT will be fast and inconstant. The learning curve might look like a roller coaster. In order to keep your team engaged and informed, you’ll need to place a high priority on training. Encourage your people to keep their eyes on emerging trends.
- Are you willing to re-up your security? All connected devices can be hacked. The IoT requires a security force field and an ever-present vigilance. If you can’t put the most secure measures in place, you won’t be able to compete.
- Have you embraced the cloud? The IoT doesn’t work without cloud computing. If your company has been hesitant to make the move to the cloud, it’s time to rethink your resistance. The cloud makes it possible for your company to adapt quickly, take on more capacity, and offer more options to your customers—all at a lower cost, as additional physical infrastructure is no longer necessary.
Roll with the Changes: The Internet of Things Is Now
If you think your business could benefit from the impending ubiquity of the Internet of Things, the time to get on board is now.