IoT Readiness Framework to Guide Your IoT Deployment

In the modern world, almost every aspect of our lives is steeped in data. While smartwatches track our caloric intake, steps, and heart rate, smartphones in our pockets know our location, shopping preferences, our favorite vacation destinations, and perhaps the details of our personality.

These data insights strengthen the relationship between consumers and producers; Brands can now customize product offerings according to the unique requirements of individual consumers, while customers can actively co-create products together with their favorite brands.

Ultimately, we are all transitioning to the world of IoT, which helps our day-to-day lives and keeps us connected to the things and people that are important to us.

In the business world, IoT devices record and transfer data to monitor important processes, generate intelligent information, drive efficiencies, and enable companies to make informed decisions.

IoT tells organizations what is really happening, rather than what they assume or hope is happening. The IoT market, which includes hardware, software, systems integration and data and telecommunications services, is provided to grow to $ 520 billion by 2021.

Adoption of IoT is clearly on the rise – whether you’re selling consumer products, developing buildings, or manufacturing biomedical devices, the Internet of Things (IoT) can provide a competitive advantage for your business.

With that said, you still need to assess whether your business is IoT ready before jumping on the bandwagon. Here are some questions you can ask to determine if IoT can help your business:

Do you need IoT?

Do you currently rely on manual inventory reports for the products you sell, service, or maintain? Connected sensors make your business more efficient, telling you when something may (or may not) need maintenance.

Could your products deliver a higher level of performance or efficiency by using key details and activities and automatically optimizing based on key information? If monitoring details like temperature, fuel efficiency, speed, and information on any particular route would help you optimize performance, IoT can definitely help.

Would your customers have a better product experience with your solution if they had mobile access to their devices to personalize, optimize, and report? Customers are buying connected products, like vacuums that alert them when a filter needs to be changed or ovens that let them know the pizza is ready, wherever they are.

If your end customer values ​​the convenience it offers when connecting their device, IoT is worth taking a close look at. Connected components like meters and sensors are continually available in different sizes, form factors, capacities, battery consumption, and more.

Is the information you are working with to make product and business decisions outdated or incomplete? Having real-time statistics on elements such as the energy consumption of street lamps within a municipality or the fuel consumption of buses and vans can change the rules of the game for public and public services.

If you are dealing with a large number of devices or a fleet of vehicles, small ongoing savings can easily justify the investment in IoT over time.

In one word

IoT is not for everyone, and there are many industries where investing in IoT may not yet provide a significant return. If your service / solution does not require real-time data from devices or products, IoT may not be suitable for your business. Also, if you run a smaller-scale business, or just don’t have enough devices to meaningfully monitor, then clearly IoT is not worth your time or investment.

However, if you have determined that IoT can successfully drive your business growth, consider implementing a strong IoT strategy to ensure a successful implementation. The first step is to take an in-depth look at your business operations and procedures and ask if having real data running can benefit you.

If the answer is yes, what are you waiting for? Talk to experts to discover the right IoT solution for your business!

Gengarajan PV

Gengarajan PV

Managing Director of Hakuna Matata Solutions Pvt Ltd

Gengarajan PV is CEO of Hakuna Matata Solutions, a leading company Digital transformation Y Web application development company. He has more than 14 years of experience in the Information Technology industry. Spend your time reading about new technologies in the manufacturing, distribution, and logistics industries.

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