The Internet of Things (IoT) is not a futuristic technology trend; it’s the first step in becoming a truly digital business and it starts with your things—your line-of-business assets and the data they produce, your cloud services, and your business intelligence tools. That’s the Internet of Your Things. By implementing a strategy to capitalize on the Internet of Things trend, you can stop just running your business and start making it thrive.
1. Start with your things.
The Internet of Things doesn’t have to be overwhelming. Instead of being bewildered by the huge universe of things made up of billions of assets, think about it as the Internet of Your Things. Focus on the right areas of your business that provide quick return. Imagine starting with operations—connecting systems and line-of-business assets to help deliver better performance visibility—driving toward predictive maintenance and helping reduce downtime.
2. Get more out of your existing assets.
Start with your existing IT assets and build upon them. Add a few new assets, connect them to your chosen IoT Suite – Microsoft Azure or AWS and the cloud, and enable them to talk to each other, to your employees, and to your customers. Use the data those assets generate with business intelligence tools to have deeper insight into what your customers and employees want and need.
3. Make small changes, see a big impact.
IoT starts with identifying the one process, product line, or location that matters the most to you, then making small changes for big impact. For example, connect robots on the factory floor with back-end systems and create a production line with more continuous uptime. Add expiration dates to the data set for pharmacy inventory and save thousands of dollars in wasted medications. Connect one handheld device to your inventory system and suddenly you’ve got real-time customer service on the sales floor.
4. Improve efficiency.
By 2018, the total cost of ownership for business operations will be reduced by 30 percent through smart machines and industrialized services. With IoT you can easily connect and monitor the health of your assets, you can track the condition and performance of these assets over time. Rules and alerts notify the right team or department in your business when action is needed, so you can improve business processes and efficiencies.
5. Connect any asset.
The rapid proliferation of connected assets and devices raises challenges due to the variety of platforms and protocols. With IoT , you can connect the diverse line-of-business assets that you have today to give you the ability to easily pull in data from very large numbers of devices and other business systems.
6. Enable innovation.
Businesses that learn and adapt will continue to thrive. Monitor and analyze data from multiple sources in near real time to enable your business to innovate and make the most out of the situation. With machine learning capabilities offered by IoT, your business can apply historical data to a new problem by creating a model and using it to successfully predict future behavior or trends
7. Increase agility.
Data insights can help you respond more quickly to competition, supply chain changes, customer demand, and changing market conditions. Collecting and analyzing data gives you quick insight into developing trends, so you can change your production activity, fine-tune your maintenance schedule, or find less expensive materials. With the Internet of Things, you can spend less time wondering and more time taking action.
8. Build the ability to scale.
New ideas are born when you work with new partners, new technologies, new assets, and new data streams. You suddenly put your employees and technology to work together in ways never before imagined. New data opportunities let you shift focus from repairing assets to fine-tuning their performance over the long term. Comparing results from different store locations lets you identify the most successful services and roll them out nationwide. The Internet of Things lets you scale from the smallest data point to global deployments.
9. Transform your business.
Data is only ones and zeros until you turn it into insights and business impact. When you use the data from your asset monitoring and use advanced data analytics to enhance decision making and innovation, you can see the potential to transform your business by creating new business models and revenue streams through data insights that weren’t visible before.
10. Choose an enterprise-proven IoT partner.
Sysfore is a trusted technology company you already work with for your own company’s infrastructure. The Azure or AWS IoT Suite empowers you to transform the raw data from your things into actionable insights and business results. Being Microsoft and AWS partners we can help you put the Internet of Your Things to work in your business today, so you can stop just running your business, and start making it thrive.
To take the first step in creating the Internet of Your Things, write to our IoT experts at info@sysfore.com or call us +91-80-4110-5555.