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What Does the Internet of Things Mean For Your Business?

There's never been a better time for businesses

Image Source: Internet

The internet in general has revolutionised the way people communicate, they can now have instant conversations with anyone around the world, share data with each other in a blink of an eye, run entire businesses online from the comfort of their houses. Internet allows people to stream real-time information across various platforms; businesses can provide their customers with accurate and timely information to help them make best decisions.

One step forward and we now have devices connected to each other, sharing data, giving people the entire control even from far away and benefiting them. The concept of Internet of Things has been around for quite some time now but in the past few months has really gained traction.

According to The Guardian, “It’s about connecting devices over the internet, letting them talk to us, applications, and each other.” Sounds cool, right? And it definitely is.

The idea of Internet of Things (IoT) can be better understood through the concept of smart offices, cars and homes. Our mobile phones have apps that are connected to the digital systems in our cars, offices and houses and allow us to control all these things through a few taps on the screen. For example, Google Maps allows you to get real-time traffic updates and navigation that is sent to your car’s navigation system which resultantly guides you through better and safer routes under a crisis or bad weather.

Similarly, you can control your entire office or house through your smartphone. All you have to do is digitalise that particular system and connect it to your phone through an app and voila! Heat Genius is one such example that lets you control your house’s heating system through your phone. You have a warm room and cosy house waiting for you while you are on your way. This concept will flourish further and we will see a lot more smart devices connected to our phones, sharing data and making our lives easier.

But What Does All of this Mean for Businesses?

We all know the potential the Internet of Things hold: they allow businesses to efficiently gather data from multiple sources. And businesses that have proper data from their customers and those who know how to make good use of that information can incorporate it into their marketing campaigns and open doors for revenue generation that even they probably hadn’t thought about. Data from their customers’ homes, offices, mobile phones and cars can help them see how long users spend on specific parts of their websites, how they are using their products and what are their preferences. All this real-time information that businesses gather can be used to their advantage.

The incorporation of smart devices with houses, offices and cars also means that businesses can start offering better services and products. For example a bank may offer their clients an app to stay connected to their account and handle all the transactions and banking processes through their phones or stores both online and brick and mortar may allow shopping and payments through mobile phones bringing more convenience to the customers.

However, there is another side of the picture which is not as pretty.

The Downside?

Digital world doesn’t come without loopholes and security risks. The Internet of Things is no exception and the risk of hackers breaking into the devices to steal valuable customer information and data is real for businesses. Developers like Incubasys have been working tirelessly to improve security on Internet of Things for the businesses and their customers. The future is still brighter than ever.

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