Every IoT company must know the pillars of sustainability

The Internet of Things it’s a pretty hot topic these days, for a variety of reasons. First, the Internet favors the IoT, especially in light of the online trend that has exploded in the last year and a half. Also, there seems to be an endless supply of new ways to put the Internet to work on behalf of all of usWhether it’s for a corporation, a small business, a supply chain, or an individual. But, do you know the pillars of sustainability?

Every IoT company must know the pillars of sustainability

The three pillars of sustainability: economic, social and environmental sustainability, (aka earnings, people, and planet): Describes the objectives that companies seek. Therefore, truly sustainable business models are built on all three pillars, rather than just one or two.

The more a company employs the practices that use all three, the more profit and progress it makes.

The pillars of sustainability are how to take care of your health on multiple levels. If you eat right, exercise, and go to the doctor for regular checkups, your life will be better than doing just one of those things.

Sustainability is important for companies using IoT, as it is clearly going nowhere.

There was almost 9 billion IoT devices worldwide in 2020, And that number will grow to more than 25 billion in just ten years. Several companies are already using IoT devices, but there are many uses projected for the future. And for a company that wants to prosper and grow, the future implies sustainability.

Environmental expansion

Of the three pillars of sustainability, environmental expansion is perhaps the most discussed today, especially in relation to IoT.

Global warming and increasing natural disasters attract more attention in the news, one can hope The environmental impact of companies will be subject to public scrutiny. The good news is that IoT can be part of your business practices in a way that reduces footprints and contributes to a sustainable cycle.

For instance, Rami Avidan, the managing director of Deutsche Telekom IoT GmbH, pointed out how the ever-growing foodservice industry, including supermarkets and freight companies, would benefit from increased use of IoT to control temperature during transportation and storage, identify the location and send information about the status of the products. This process would help reduce food waste by at least 7%. Why do not do it?

It may not seem like much at first. However, over time, it would accumulate considerably. Not to mention that the advancement of IoT technologies and information sharing could continue to drive the number up.

Either way, customers like companies that can honestly claim a reduced environmental footprint. This means that the IoT not only saves businesses money, but also provides an excellent basis for marketing.

With that money saved and free marketing, companies can reinvest and continue to grow while being part of the sustainability cycle.

Whether it’s using IoT to help predict the best way and limit the fuel used for company vehicles or freight; leverage IoT to maximize technology use, or recycle used computers To further boost your company’s sustainable reputation, IoT can be tailored to make your business more sustainable at all levels.

Economic impact with IoT

The economic impact of adopting IoT is probably at the top of the list for most companies. Business owners and managers are always looking for ways to reduce their overhead and maximize profits; that’s just good business.

What do IoT companies need to know about this pillar of the sustainable economy? And why is it important?

Economic impact of IoT

The economic impact of IoT It is made up of a combination of minimizing expenses, maximizing information resources, and creating additional sources of income. How companies achieve goals depends on the individual company and how IoT integrates its practices.

For example, in a subscription-based business model, instead of offering a one-time sale to a customer, the company offers a discount based on a monthly or annual subscription. So the longer your client is willing to stay with your company, the better it will be for both of you.

IoT for meaningful data sustainability

Incorporating IoT data into your business model gives you a deeper and more meaningful interaction with your customers. This means that you can offer services based on your needs, increasing the likelihood of remaining a customer. That’s one of the ways that IoT can help increase a brand’s revenue.

Another example involves saving money based on the use of asset tracking, management, and retention of employee hours. Again, Amazon is a remarkable example of this.

With the sheer number of warehouses and products the retail giant has to track and ship, doing it all with labor alone would be a significant expense. Amazon uses WIFI-enabled robots to select products and ship them, incorporating QR codes to ensure correct compliance.

The huge database that Amazon maintains would be untraceable without IoT. Additionally, IoT makes it possible for retailers like Amazon to keep their shipments fast and accurate and reduce their overhead for employee hours.

Socially Sustainable IoT Business Practices

Getting people into the mix can be difficult for any business. However, people are a vital component and the pillar of the second of the three pillars of sustainability.

Why IoT Needs People

Why should IoT companies care about the people involved? IoT is based on technology, right? The point is to automate information gathering and projections, not to hand over the data to humans for collection.

But companies don’t sell to technology, they sell to people. And to create a sustainable business, the audience has to be part of the equation.

Why IoT should be socially sustainable

IoT is very useful for informing companies about the needs, wants and goals of the target audience. Not only for informational purposes on which products could fill a niche, but also to improve existing products.

For example, responsive smart home features that accurately learn and predict homeowner preferences. The better IoT technology works, the more responsive the smart home device will be and the happier the individual will be. All of this comes back to better reviews, which translates to more customers. Sustainability is a cycle. Any company must remember that their actions now will affect their results later.

The man who coined the term “Internet of Things”, Kevin Ashton, pointed out how important the “people” pillar of sustainability is – it is an integral part of the entire IoT ideal. In short, IoT is about integrating the interconnection of human culture, our “things,” with our digital information system: “the Internet.”

It is impossible to rule out the principle of social sustainability. This is because IoT requires an audience from which to extract information. Not to mention, without social sustainability, IoT becomes almost useless.

Building for the future with sustainable IoT

There is no limit to the sustainability that we can achieve, and it is impossible to arbitrarily declare a cut-off point. That’s; we no longer need to think about sustainability; we have done enough.

New companies will continue to be launched;

Existing companies will continue to evolve; Y

Technology, to better serve both, will always be on the horizon.

IoT technology is just one way to help companies adapt and prosper. Within that concept are a million smaller apps, any one of which could make a difference for your business.

Image credit: sergio souza; pexels; Thank you!

Zaheer Dodhia

Zaheer Dodhia is a serial entrepreneur and founder of LogoDesign.net, a SaaS company that offers brand designs. He has a deep understanding of business needs, search engines, and a background in graphic design, computer recycling, and technology, which has motivated him to spearhead several online projects, including ZillionDesigns and PCStore.com. He likes to cover topics like branding, graphic design, and computer recycling.


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