How can Businesses Benefit from the Internet of Things?
Our era is characterised by the emergence and the rise of the Internet of Things (IoT) computing paradigm, which is propelled by the proliferating number of internet connected devices. With tens of billions of devices connecting to the Internet, enterprises are offered with unprecedented opportunities for deriving and processing information from the physical world, but also for controlling, automating and optimising physical processes using digital systems. Early IoT deployments in industrial settings have proven the merits of this new computing paradigm. This is for example the case for IoT-based predictive maintenance and quality management applications in settings like factories, energy plants and oil refineries. Such applications benefit from the collection of large amounts of data and the deployment of IoT devices at scale.
IoT is not however a game for large industrial organisations only. Small Medium Businesses (SMBs) can also take advantage of sensors and internet connected devices in order to increase the automation, the quality and the cost-effectiveness of their businesses processes. Nevertheless, IoT deployments for SMBs tend to be more challenging than for larger organisations, given that smaller enterprises lack in most cases the equity capital and know-how needed to adopt, deploy and fully leverage IoT technologies.
The most prominent IoT applications for SMBs include:
Beyond these examples, SMBs leverage IoT devices in order to implement new ideas and business processes, which yield IoT technologies an innovation vehicle for their growth.
Contrary to large enterprises, SMBs face many challenges in their IoT adoption journeys, including:
In view of these challenges, SMBs had better adhere to the following best practices and recommendations for IoT adoption:
During the last ten years, we have witnessed a proliferating number of IoT deployments, with large enterprises in the leading edge of adoption. However, SMBs can also benefit from IoT technologies in specific vertical applications, such as retail, healthcare and industry. To this end, they need to overcome several adoption barriers, including barriers associated with cost, business and knowledge factors. Recent developments on ICT technologies (e.g., such as the integration of IoT devices within cloud platforms) provide an essential boost to SMBs that seek to benefit from the pervasiveness and data richness of IoT applications. Likewise, SMBs could benefits from investments in complementary assets like training and business modelling. IoT is here to stay and SMBs cannot afford to ignore its potential.
CIO Challenges in the Era of the COVID19 Pandemic
Five Technologies for COVID19
The Cybersecurity Challenge for Deep Learning Systems
SEO Outsourcing: The Basics You Need to Know
Modern IT Infrastructure Management for SMBs
How is the Coronavirus affecting the Global Economy?
Guidelines for Effective Risk Management in the Digital Era
Seven Development Directions for the Smart ERPs of the Future
AI and Databases: A Symbiotic Relationship
Seven popular Web Application Development Frameworks
We're here to help!
No obligation quotes in 48 hours. Teams setup within 2 weeks.
If you are a Service Provider looking to register, please fill out this Information Request and someone will get in touch.
Outsource with Confidence to high quality Service Providers.
If you are a Service Provider looking to register, please fill out
this Information Request and someone will get in
Enter your email id and we'll send a link to reset your password to the address
we have for your account.
The IT Exchange service provider network is exclusive and by-invite. There is
no cost to get on-board;
if you are competent in your areas of focus, then you are welcome. As a part of this exclusive