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By 2008, there were already more things connected to the internet than people. Now, more than a decade later, this number is will soon touch 50 billion.
Internet of Things (IoT) has truly redefined the technological landscape of the world. IoT devices don’t just help us stay more connected than ever, but they have also improved the overall efficiency and productivity of organizations around the world. Every year we see new advancements in IoT and 2020 is no exception.
By 2020, IoT data will be increasingly used to automate customer service and improve sales efforts because of its close integration with customer relationship management (CRM) software.
For instance, IoT devices can automatically notify the support team when it senses that customers are having issues. In fact, the IoT devices could be programmed to alert the support staff even before the customers report the problem themselves. Once the issues are resolved, historical IoT data can be used to draw analytics and fuel sales discussions.
Preventive maintenance in the manufacturing sector is advancing rapidly with IoT’s help, and in 2020, we will see more of that. IoT sensors can detect problems with the machinery even before the field technicians reach on the site.
With IoT wearable devices, workers will be able to receive updates real-time safety and factory conditions. They can also get constant feedback from the factory floor about any issues.
From RFID tags to provide insights about product inventory to self-checkout counters, the retail stores across the world are now smarter than ever. By incorporating IoT into the stores, brands can recognize the aisles where customers linger the most or the products that they most interact with.
Analyzing the foot traffic data can help brands in making relevant adjustments to their inventory and store layouts in order to maximize sales.
Numerous cities around the world have already adopted IoT as part of their smart city planning, while others are in the process of implementing it. For instance, Cary in North Carolina is a city that has integrated the traffic lights around the city with Salesforce’s CRM tool so that the utility company can be automatically notified when the traffic lights malfunction.
Similarly, San Diego in California has leveraged GE’s IoT platform for intelligent lighting and automated street meters across the city.
With so many IoT devices, there is also a lot of IoT data, and in 2020 it is expected that companies will continue to sell IoT data–a practice which is also known as infonomics.
It is predicted that appliance manufacturing companies will not just sell IoT data to other organizations for additional revenue, but also to prove the fact that their IoT products function seamlessly.
For instance, data mined from IoT sensors, that are able to detect problems even before they arise, can then be sold by the company to service firms or manufacturing firms for marketing or sales purposes.
IoT isn’t just a buzz word or the latest fad. It is here to stay and it can make a big difference in the way companies manage their daily business operations.