- Reduce operational cost & boost efficiency – With the combination of rich data insights and automated sensors, IoT can reduce the costs and gives an opportunity for businesses to improve operations in multiple areas like security, energy, human resource, and asset management. There are dozens of notable processes that can be streamlined and is highly scalable across several industries.
- Opens up new business opportunities – The massive data generated by IoT devices can help businesses gain insights and understand the customer needs more accurately. Previously unseen insights can be turned into their new offerings and become a way to create value for their customers.
- Better customer service and agility – The data generated through the IoT devices can give a comprehensive understanding of customers using which businesses will be able to market and position their products in the relevant market. On the service side, access to these real-time data will assist businesses to streamline their workflows and be responsive to current market demands with greater speed.
Importance of IoT Advisory & Consulting in the digital era
- IoT Devices/ Hardware -Hardware like sensors, edge computing devices, etc, are at the heart of any IoT implementation. Choosing and deploying the IoT hardware & applying edge computing models can be a complicated task, but uniquely well suited to IoT applications because of several key benefits such as near-real-time analysis of data, lower operational and data management cost, optimal data transfer back to the cloud and operational continuity.
- Network – IoT implementations require the transmission of signals over networking devices in different network topologies and communication with the IoT gateways. To bring your organization’s current networking standard at par with the IoT implementation standards, there is a need for up-gradation to your networking devices such as routers, LAN, MAN, WAN, etc, and connecting technologies like Wi-Fi, Bluetooth, LTE/5G, etc.
- Cloud Services – Once the network is in place, the next step will be to handle, process and store a humungous amount of data collected by IoT hardware. Managing, sifting through, and analyzing so much data will be a massive challenge for organizations in the legacy storage systems. Hence, using the cloud is important for aggregating data and drawing insights from that data. This has proven to be a great way to get the best value for the gathered data. Further, it makes it easy to integrate with other sources such as external databases or third-party APIs.
- Security – Security is often overlooked when organizations deploy newer IT technologies. Modern cybercriminals are utilizing newer and complex attack techniques to attack the hyper-connected networks and get their hands on customers/corporate data. The challenges will increase when networks become more dynamic with cloud, virtualization, 5G, and IoT. Therefore, it is important for organizations to follow best security practices, and install a robust security solution that can protect IT, IoT and Operational Technology (OT) devices.