Thanks to advancements in technology, the world is more connected than ever before. It is now possible to turn almost about any device into part of the Internet of Things (IoT). Many companies are now looking to implement IoT across their operations, and are beginning to ask 'can a business be successful without IoT?'
In a world of digital, businesses are beginning to ask whether they can be successful without IoT. While the Internet of Things allows companies to explore new levels of digital intelligence, communication, collaboration, and innovation – it is smart to ask whether or not it is the best investment for individual businesses.
The Big Question
The question business leaders should be asking isn’t ‘can my business be successful without IoT?’ but instead ‘what kind of IoT will promote success in my business?’
Innovation with IoT is only going to accelerate – and that isn’t going to change. Business leaders need to be able to embrace this change and adopt its benefits if they aim to succeed in a modern market. Utilising the Internet of Things in a modern market isn’t a matter of ‘if’ but rather of ‘when’. Companies who fail to adopt a Future Workplace and engage in Digital Transformation risk falling behind their competitors and losing pace with their customers. But, simply adopting a trend just because it is the ‘in’ technology would also be a mistake, and could cost companies just as much. The key to success is finding the right solution for each business.
Success starts with insights. When it comes to IoT, almost any object can now be transformed into a connected device. There are now more connected ‘things’ than people living on earth. In fact, there are almost 8.4 billion IoT devices in use, with that number expected to surpass 20 billion by 2020. From TV’s to watches, all the way to cameras and security devices – IoT is everywhere. For businesses, the Internet of Things works to make environments smarter, more collaborative, and more innovative. Some benefits include:
- Improving customer engagement
- Enabling automated services
- Enhancing customer and work-related insights
- Allowing for an anywhere/anytime work environment
- Proven productivity increase
- Scalable devices
- Agile solutions
- Reliable and ongoing innovation
- Reducing downtime and disruption
- Asset tracking
For companies to get the most out of these benefits, they must first begin a Journey to IoT – and then ensure that their ongoing strategy is relevant and reliable. This starts by understanding what technology already exists within a company, and what can be used to further meaningful success.
At MOQdigital, we work with companies to help ensure that their IoT investments are right for them, secure, and scalable. If you have questions about the Future of your Workplace and want to make the most of your digital investments – get in touch today.