revolutions that are loud and clear, like the Industrial Revolution. And then
there are revolutions that are quiet yet disruptive like the invention of
Internet. During the initial days, no one knew what it could be used for or
even how to make use of it. One such recent revolution is IoT. Although people
are aware that Machine intelligence and its ability to communicate in a “Smart”
way has increased, often end users are unaware of the involvement of IoT. And
that’s the beauty of the system as the business leaders can take advantage of
this quiet time before it becomes one of the buying decision.
research from Economist Intelligence Unit (EIU) shows that nearly 100% of the
business leaders expect their business to be using IoT in one form or another
by the end of 2016. With that interesting perception, I welcome you to the
second post on the IoT for SME series. If you are tuning into this post for the
first time, I suggest you look at the first post here, where we have discussed
about the monetary implications of using IoT for SME and how they can tackle
this situation. Alright let’s dive into
today’s topic, custom applications using IoT for SME.
Reaching out to Customers:
SMEs can use IoT in understanding the behaviours of the customer,
in terms of buying activities, touch points during and after sales cycle. For
example, sensors can report exactly where, when and how a product is sold,
providing valuable inputs in the marketing and sales process both online or
offline. The process of collecting this
real-time data can be less costly, fast and more accurate with use of IoT.
Another instance could be monitoring and usage of connected
components or parts. Using this data SMEs can ensure they have the necessary
products are available for replacement.
For example, if the printer could
communicate about the low toner to the manufacturers they could send out the
toner on time by cutting down the time delay and increasing the sales revenue.
On the other hand, SME can also benefit from IoT in terms of
product engineering and workflow enhancement. Monitoring machine conditions, settings and
usage can result in fine tuning the existing workflow and ensuring the
production is done efficiently. It will
significantly improve the quality of products.
While it is not so straight forward when it comes to
implementing IoT for SME, it is worthwhile to consider this option to see how
best we can utilize the technology and reap the benefits sensors, machine learning
and internet. At this point it is difficult to use off the shelf products or
packaged software for enabling IoT to use SME, unless the whole solution suit
the requirement of the SME business. Therefore, it is safe to say, custom
applications would be able to fill this gap in creating applications that suit
the SME needs while also harvesting the benefits of IoT.
Business Analyst - Snr Software Consultant.