how internet of things impacts business

 

In a world full of “smart” technology, we now have more connection to the internet than ever before. That is thanks to a concept called the internet of things (IOT). Basically it involves the connection devices with an on and off switch have to the internet. 

Nowadays they’re everywhere. Devices such as coffee makers, headphones, lamps, even refrigerators are Wi-Fi capable. With that, they're able to not only connect to internet, but also they can connect to each other. The internet of things doesn’t just impact home life, it could greatly impact how your business could run in the future. 

 

More data access

It’s not a secret. Devices that are connected to the internet collect tons of data.This hyperconnectivity allows you get data from every smart device a consumer uses. Technology could allow you to see how they use a product, what they search for, and what they like and dislike. So what does that mean for you?

  • Increasing your marketing efforts through better audience targeting 

  • Understanding what exactly needs to be fixed with your product/service

  • Ability to see how your product relates to others that are similar

 

Improve customer experience

Any good business owner understands that a great customer experience is incredibly important for building trust and community. With the rise of the internet of things, your business will be able to better understand your target audience to know exactly how they like to be treated. 

In fact, in a survey, Forbes found that 56% of the companies they surveyed are investing in IoT to improve their customer experience. In addition, 42% said that IoT has helped them expand their customer experience capabilities. 

 

Increased productivity

 Wouldn’t it be nice to be able to do more with less? There’s nothing quite like having a strong ROI, and the IoT things could bring you just that. The connection between devices could allow your workers do more large scale projects faster and with more precision. In the future you could see your business growing more quickly without having to put extra money into it.  

Takeaway

The IoT is still in its beginning stages, but being at the forefront of the innovation will help you stay on every trend and continue the success of your company. At the very least, make sure your business is up to date with future-proof fiber internet. Fiber internet gives you the high-speed connection you'll need to reap the full benefits IoT has in store.