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We are well aware that IoT offers a range of possibilities across various industries including consumer electronics and cars, healthcare, utilities, transportation, manufacturing, and so on. Also, Industrial IoT offers means to obtain insights into the business operations.

IoT offers a greater promise in the healthcare sector than in other sectors. This is because the IoTprinciples are already being applied to enhance the quality of care, reduce the cost of care, and improve the overall access to care.

The integration of IoT features into medical devices greatly enhances the effectiveness and quality of service, especially bringing greater value to those requiring constant supervision and elderly patients suffering from chronic illnesses. The IoT has the potential to not only keep the patients healthy and safe but also to improve how the doctors provide care as well.

A few estimates have revealed that by 2025 spending on Healthcare IoT solutions will reach around $1 trillion, and hopefully, will make the conditions favourable for highly accessible, on-time, and personalized health services for everyone.

The IoT can also enhance patient satisfaction and engagement by allowing patients to spend more time interacting with their doctors. This article will explore some of the major applications of healthcare IoT and the challenges it poses for healthcare today.

Applications of Healthcare IoT

Starting with managing chronic diseases to preventing a disease, there are a broad range of applications for IoT in the healthcare sector. Now, let’s dig deeper into each of the major applications.

Providing Constant Attention

The patients who are hospitalized and whose health status requires close attention can be monitored constantly using noninvasive, IoT driven monitoring. This kind of solution uses sensors to gather comprehensive physiological data and the cloud and gateways to examine and preserve the data and then send the examined information wirelessly to physicians for further analysis and review.

This eliminates the need for the doctor having to visit at regular intervals to check the vital signs of a patient, instead offering a continuous and automated flow of data. In this way, it enhances the quality of care via constant attention and lowers the cost involved by eliminating the need for a physician to engage actively in data gathering and analysis.

Building Trust

The connectivity of a healthcare system with the IoT places emphasis on the patient needs. This means timely intervention by doctors, enhanced accuracy in case of diagnosis, proactive treatments, and improved treatment outcomes result in a care that is highly accountable and gains trust among the patients.

Remote Patient Monitoring

All over the world, there are many people who face health issues due to lack of access to effective health monitoring. But, with the help of powerful, interrelated IoT solutions, monitoring the patients has become easier than ever.

These solutions can be utilized to capture the health data of a patient in a secure way from different sensors, make use of complex algorithms to examine the data and then share it via wireless connectivity with the physicians who can make proper health recommendations.

Reduced Costs

With the availability of real-time data from the connected healthcare solutions, the doctors can not only take better care of their patients but also lessen their number of visits to the patient as they can monitor their patients remotely. This decreases the overall health care costs as the costs involved in hospital stays and readmissions are cut down to a greater extent.

Configuring Emergency Alerts

Healthcare IoT allows care teams to gather and connect millions of data points regarding the personal fitness of a patient from wearables like activity, temperature, perspiration, sleep, and heart-rate. As a result, the information obtained from sensors can send out real-time alerts to caregivers and patients so they obtain event-triggered messaging such as triggers and alerts for elevated heart-rate and so on. This will hugely enhance workflow optimization and ensure all the care is handled from home.  

Challenges of IoT in Healthcare

The IoT continues to face challenges in spite of the promise of what it can achieve in healthcare. If these challenges are not addressed soon, they could put the IoT at risk of failure.

By intent and design, the IoT devices collect and transmit real-time data. The infrastructure required to receive and process this information should be designed and developed for scale. This means obtaining, processing, and storing data in real-time from millions of IoT devices and applying analytics to gain insights from this data. Unfortunately, most of the providers lack the know-how and infrastructure to access the data.

Also, most of the devices reporting healthcare data suffer from a lack of common security practices or standards. Due to this, many healthcare IT professionals have raised concerns about the risks associated with data breaches and IoT device tampering.

Other major challenges include lack of EHR system integration and lack of adoption of interoperability. Addressing these problems will further revolutionize the health industry as more organizations will start implementing IoT for their healthcare services.

Healthcare IoT is transforming the way the facilities are delivered to patients. In order to derive the true value of healthcare IoT, the interrelated healthcare devices and the processes that are supporting them must work as a joint system that is comprehensive, integrated, and secure. With healthcare IoT facing few challenges, the healthcare providers are hopeful that the IoT will have a positive impact on delivering valuable data and supporting patient care.

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The internet of things (IoT) is much more than the next step in consumer technologies — it also represents a significant leap forward for industries of all kinds.

Manufacturing is already — and will continue to be — a field almost uniquely suited to applying IoT technology. In fact, there's almost no part of the process that won't be touched in some way by this ever-expanding web of smart and interconnected sensors, computers and machines. No matter how large or small your operation is, it's increasingly difficult to understate the potential value of adding intelligence and oversight to your processes using the internet of things.

Here are four ways IoT is revolutionizing the field of manufacturing.

A Greater Degree of Competitiveness

According to a report published by Verizon in 2016, an overwhelming majority of manufacturing managers already consider IoT technology a critical competitive advantage. It's hard to believe that such a sea change happened practically overnight, but not quite so much when you realize what's at stake.

Suffice it to say, the IoT represents a bundle of industrial innovations that have been a long time coming. Most of the competitive advantages cited by the Verizon report have to do with parts of the manufacturing and business processes that required guesswork or drew from incomplete data sets. We're talking things like altering business processes based on current demand and future trends, optimizing longstanding workflows and responding to unforeseen events.

Technology powered by the IoT can make manufacturing companies more competitive by, among other things, granting some autonomy and automation to back-end processes that inform the rest of your employee processes and workflows. This type of automation could, for example, automatically flag product for shipment to another location based on current levels or even trip a slowdown on one production line to pivot to another product if future demand isn't expected to be there.

The result is a leaner business that can run circles around your more flat-footed competition, who might've been slow to adopt modern technologies. 

A Demystified Supply Chain

Gathering useful insights into the supply chain — that all-important web of manufacturers, shippers and vendors that makes modern production and order fulfillment possible — has been one of the most significant advantages of applying the IoT.

Of course, oversight into vendor and shipper processes is nothing new — but accessing it and making decisions in real-time is a relatively new innovation courtesy of the IoT. These days, every plant location and every party responsible for assembling or moving finished or in-progress merchandise enjoys a higher degree of transparency and collaboration thanks to remote monitoring technology, sensors along material handling paths and assembly lines, and more.

Perhaps most importantly, the availability of granular data at each stage lets each party know exactly what inventory levels look like, all the way up and down the supply chain. This is a significant innovation and a huge stride toward true lean and just-in-time manufacturing, not to mention seamless collaboration. Neither wasteful production methods nor products sitting idle that are needed elsewhere are long for this world, and it's all thanks to the IoT.

Automated Maintenance and Unsafe Operation Alerts

Even the very machines manufacturers use to fabricate and assemble new products are getting smarter thanks to the internet of things. Low-cost sensors are easier than ever for facilities to deploy on their critical machines and equipment, which can make the time and labor associated with ongoing maintenance far easier to manage.

Sensors on manufacturing and product handling equipment provide real-time alerts and analysis concerning the condition of the machine and its many moving parts. These sensors can also take the guesswork and scheduling out of regular equipment maintenance by sending an alert to the appropriate parties at regular intervals — or whenever the machine's onboard self-diagnostic tools detect an impending failure or fault.

The implications for manufacturing are enormous since no two organizations work under the same conditions and with the same equipment. IoT-powered condition-based alerts help facilities maintain the health of their machines, no matter where in the world they're located and no matter what the temperature and humidity are doing. Some devices are more finicky than others when it comes to environmental conditions, making no-hassle maintenance a considerable advantage.

Improved Safety Oversight

Before the industrial internet of things, key performance indicators for employee safety and work environment were commonly spread across several systems, including paper-based ones. This made it difficult for plant managers to get a good, top-down sense of where dangerous processes existed or what types of simple process changes might result in improvements.

The internet of things makes it possible to gather data concerning work accidents and near-misses, property damage, employee injury rates by process and more. It's quite common — and potentially even required — for modern business to track some of these data points as for various compliance purposes. However, it's less common to assemble them in one place and use modern digital technologies to draw actionable conclusions, isolate consistent trouble areas and drill down to causes.

Wearables are another safety-minded application of the IoT. Helmets and wristbands are being eyed as possible future locations for health-related sensors to keep track of workers' physical locations, temperatures, heart rates and more — all in service of rotating employees more regularly, keeping bodily stresses to a minimum and bolstering organizational safety as a whole.

Tomorrow's Technology Today

It's likely that the future will see even more IoT innovations for manufacturing. For right now, these four major improvement areas represent many opportunities for the modern business to revolutionize what they do and how they do it.

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Despite the great promise of IoT to improve business and society, many think it’s being held back due to complexity and the associated lack of required skills to make it a success. Is it possible that the antidote to this complexity and skill shortage problem lies in the existing open standards and technologies that comprise the World Wide Web? In this podcast, Rob Tiffany makes the case for using existing W3C standards to power the Internet of Things.

Check it out at https://theinternetofthings.io/iot-podcast-can-the-web-save-the-internet-of-things/ 

-Rob

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Adapting To Digital Transformation

From incorporating a faster and more efficient fleet-tracking technology to application delivery, digital transformation has become a permeating voice in talking about taking businesses to the next level by fast-tracking their time to market, reducing optimization costs, and creating a fluid business model.
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For more than a century, advances in technology, machinery and automation have oftentimes replaced humans as a means to accomplish tasks. In this podcast, Rob Tiffany tackles the unsavory topic of workforce reduction as certain tasks have evolved from manual to mobile to IoT.

Listen to the Podcast 

 

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The internet of things is huge right now. Where is it headed? What is the future of IoT? Take a look at our infographic to understand what exactly the internet of things is and some intriguing statistics on where it is headed.
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If you are planning to innovate your business and disrupt your niche with the Internet of Things, it may not be as easy as it seems. There are quite a few things that you need to be prepared with, and you should know certain facts about the technology before starting out.

Before anything else, it is important for you to be patient, understand the nuances of the technology and know how best to incorporate it into your business.

It is true that your IoT product will differ from what your competitors are planning to offer and in the technologically driven environment, it is important to differentiate. But, there are underlying patterns that cannot differ, which is why you need to know the basics of IoT before getting started.

So, are you ready to know them?

#1 Start with Design Thinking

When you are surfacing a company with IoT at the core, it is important to think slightly different. All your life as a businessman, you have thought of tactical ways to get your business started, focusing on objectives and goals. However, when you are dealing with IoT, your focus will need to differ. The idea is to think from the user’s perspective and create a framework that will create more practical and usable approaches.

The design strategy should be your first priority. You need to know how and what will work when you are designing for the users. There are a few things you might want to know before planning the design.

What is it that your users need? When we automated home ACs over WiFi, the purpose was to allow remote access, and not keep an eye out for another remote. Once this point is cleared, you may want to think of path defining solutions for the basic idea. The remote needed to go obsolete, which is why the path defining idea was to convert your mobile into a remote. Finally, you will need to build the prototypes and craft a story around it. The idea is to define a product that talks for itself.

#2 Workaround security

When you are working on an IoT-based startup, you might want to think about a security-first solution. You will need to protect the data that can be availed from the connected device so as to offer better security. Remember, the security for IoT based solutions are complex and difficult as compared to a regular security need. If there are more connected devices in the network, the security threat grows and you will find it difficult to control and manage.

So, when you are planning an IoT solution, you will need to think of security before you plan anything else in the device management or define other aspects of the solution.

#3 Managing the costs

Like with any other venture, you will need to think IoT solution development cost. There are costs involved in every stage, and these costs evolve through your development phases.

For instance, let’s start with the development cost of the IoT solution. From planning to actual feature selection to development with connected devices, there are various phases that you need to manage and work around.

Similarly, introducing security into your IoT solution will cost you, which you need to think about before panning it out. Finally, you will need to plan for the operation and maintenance costs of the IoT business, which requires either bootstrapped funds or investment, if you want to survive in the long run. Remember, the IoT business will not get your immediate returns on the investment.

#4 Scaling is different

The scaling of your IoT business works in a different manner from the scaling of other businesses. If a business works at a particular size, it is not necessary it will work for other sizes too. So, before scaling, you will need to figure out will the scaling manage the increased needs and demands of your company. The prototype scaling would differ from the actual business scaling.

Conclusion

IoT businesses are different from the normal businesses, and you will need to understand the nuances before you start building the prototype and acquiring customers. It is more user-oriented and works with a focus on the end goal to be achieved. If you are planning an IoT business, you should ideally consult a professional before starting with the strategies.

 

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Too much time waiting for the IoT year

After years of waiting for my wishes to finally come true that it was finally the year of IoT, I give up. There will be no IoT year. Other technologies are usurping the dubious privilege of leading the technology bubble. Blockchain and Artificial Intelligence are now much cooler.

As has happened on many previous occasions, the IoT will be replaced by other acronyms that will make you forget bad experiences and failed expectations. And with the new acronyms the illusions of those of us who continue to trust in the beneficial implications that the "new IoT" will bring to society will appear again.

Event Organizers were the first to notice the decline of IoT

The first to realize this situation were the organizers of IoT events. If a couple of years ago the weight of the new secondary on stage (Blockchain and AI) did not seem worrying to detract from the main actor (#internetofthings). Now they are the stars and the IoT is marginalized and surrounded by other technologies, badly hurt and melancholy.

Quo Vadis IoT events ?

Will IoT events disappear? Sure. Doesn’t matter if is in 2 or 3 years, but IoT only events will not make sense. In the last 3 months I attended several IoT events in London, Amsterdam, Madrid, Bilbao. I see a slow decline and transformation of #IoT events. Most of them do not satisfy my expectation. I am tired and saturated of see the same tired case studies parroted over and over again.

As my friend Rick Bullotta, I'd like to see some more innovative stories, some failure stories/lessons learned, some HARD FACTS about how long it looks to build, what it cost to build, return on investment.

Of course, we will continue seeing IoT companies, products and services in the Big Events like CES in Las Vega, MWC in Barcelona or Cebit and Hanover Messe in Germany or in industry specific events or company specific events like PTC LiveWorx or Bosch ConnectedWorld .  But the same way that we do not see today Internet events we will not see Internet of Things events beyond 2020. It will be a good sign because the Hype will have disappeared and the reality and the market will have been imposed.

                                                 Thanks for your Likes, Comments and Shares                  

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Although it took some time to manifest, nation-states have realized the potential for cyber espionage and sabotage on IoT devices.

The latest news

On April 16, 2018, the US authorities issued a warning that government-backed Russian hackers are using compromised routers and other network infrastructure to conduct espionage and potentially lay the groundwork for future offensive cyber operations.

In a joint statement, the US Department of Homeland Security (DHS) and Federal Bureau of Investigation (FBI), along with the UK's National Cyber Security Centre (NCSC) - the cyber arm of Government Communications Headquarters (GCHQ) - said that Kremlin-backed hackers are using exploits to carry out malicious attacks. The hackers are using compromised routers to conduct man-in-the-middle attacks to support cyber espionage, steal intellectual property, and maintain persistent access in victim networks for use in additional campaigns.

U.S. CERT noted that cyber actors are exploiting large numbers of enterprise-class and residential routers and switches worldwide to enable espionage and intellectual property theft.

 

A growing concern

This is just the most recent of several incidents wherein nation-states have used connected devices for their goals.

A spying campaign called “Slingshot” targeted at least 100 victims in the Middle East and Africa from at least 2012 until February 2018, hacking MikroTik routers and placing a malicious dynamic link library inside to infect target computers with spyware components.

In another incident, nation-state actors left political messages on 168,000 unpatched IoT devices. The attackers used a bot to search the Shodan search engine for vulnerable Cisco switches and were easily able to exploit a vulnerability in Cisco Smart Install Client software to infect and “deface” thousands of connected devices with propaganda massages.

 

The west is also toying with IoT devices

Russia and China are not alone in investigating the potential of exploiting IoT devices. In 2016, US intelligence chief James Clapper acknowledged that the US would consider using the Internet of Things to spy on adversaries. More recently, the Dutch Joint Cyber SIGINT Unit hacked a CCTV camera to spy on a Russian cyber group called ‘Cozy Bear.’ As a result, they were able to identify many of the members as employees of the Russian Foreign Intelligence Service.

As western countries become more aware of espionage efforts by foreign governments, it is not surprising that they are fighting back by trying to reduce the attack surface. Several Chinese CCTV manufacturers were recently flagged for having built-in backdoors that could allow intelligence services to syphon information. Dahua, a maker of CCTV cameras, DVRs and other devices was forced to issue an emergency patch to its connected devices. Camera models from Shenzhen Neo Electronics were also exposed to have a severe security flaw. Finally, the largest maker of surveillance equipment in the world, HIKvision, was accused of having a backdoor and banned by certain US bodies.

 

What’s next?

While the potential for information collection through IoT devices is enormous, we shouldn’t forget that these are physical devices deployed in the real world, so hacking them can have real consequences.

 

Doomsday scenarios

Here are just four of many potential “doomsday scenarios” that could result from IoT device hacking:

Grid manipulation attacks

Power grid security has received the appropriate attention in recent years, due in part to large scale cyber-attacks on power grids around the world. But what if, instead of hacking secured power plants, a nation-state was to hack millions of smart devices connected to the power supply, so that it could turn them on and off at will? That would create spikes in local and national power consumption, which could damage power transformers and carrying infrastructure, or at the very least, have substantial economic impact.

Power companies try to balance consumption loads by forecasting peak consumption times. For example, in the UK, demand spikes are as predictable as half-time breaks in football matches or the conclusion of an Eastenders episode, both of which require an additional three gigawatts of power for the roughly 3-5 minutes it takes each kettle to boil. The surge is so large that backup power stations must go on standby across the country, and there is even additional power made available in France just in case the UK grid can’t cope. 

But since no one could anticipate an IoT “on-off” attack, nobody could prepare standby power, and outages would be unavoidable. In addition, power production, transportation and storage costs would be enormous.

Smart utilities

By attacking Internet-facing utility devices such as sewage and water flow sensors and actuators, attackers could create significant damage without having to penetrate robust IT or OT networks.

 

Smart city mayhem

Having a connected urban infrastructure is a terrific thing. The problem is that once you rely on it, there is no turning back. If the connected traffic lights, traffic monitoring cameras and parking sensors are taken offline or manipulated, cities could suffer with large scale interferences to their inhabitants’ daily lives. For example, shutting down connected street lighting could impact millions.

Simple terror

Since we are all aware of the potential impact of a devastating cyber-attack, it would not take much to invoke large-scale hysteria. Just imagine someone hacking a street sign and altering it to display messages from the country’s enemies.

 

Summary

Nation-states have long targeted IT infrastructure to gather intelligence and intellectual property, but their focus has shifted to OT/industrial networks with the aim of facilitating disturbances and physical sabotage. IoT seems to be the new domain in which proficient bad actors can collect information, create disturbances, cause large-scale damage, and inflict terror and panic. The IoT is both insecure and increasingly ubiquitous, and these characteristics make it attractive for hackers and guarantee continued exploitation.

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We are in the dawn of a new cyber society. A society where organizations shall design plans to utilize the unique skillsets of both AI Systems and humans. A society where Humans and AI systems shall work and live together and without fear. A society where humans shall use newfound time and freedom to advance strategic skills and individual talents.
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As the Global PM and CTO for Lumada, it's been a rewarding journey to create a portable Industrial #IoT platform that could run at the Edge on a factory floor, in a train, inside a data center or in any hyper-scale public cloud.

This composable platform (use just what you need for your specific use case) combined with our revolutionary Asset Avatars (Digital Twins) that bring Lumada to life, is the very definition of "Visionary." I also want to send a big congratulations to our Visionary friends at PTC (ThingWorx) and SAP (Leonardo).

Our #Lumada #IIoT platform coupled w/ our IoT Hardware Appliance takes you from #Edge to #Cloud.

Thanks to all the Hitachi collaborators, colleagues and friends I was lucky enough to take this journey with.

Get a free copy of the Gartner report here:
https://www.hitachivantara.com/ext/gartner-magic-quadrant-for-industrial-iot.html

-Rob

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After years of evangelization waiting for the promises of the Internet of Things (IoT) to come true it seems that we are finally close to reaching the trough of disillusionment phase, we begin to forget all the hype generated so far and focus on reality. A harsh reality that involves selling IoT and not continue selling smoke anymore

THE TIME TO SELL IoT IS NOW

The sale of IoT is perhaps more complex than the sale of other disruptive technologies such as Big Data, Cloud or AI and maybe as complex as Blockchain today.  In the article “ Welcome to the first “Selling IoT” Master Class!” I commented how it should be  the evolution of M2M Vendors for sell IoT and how should be the evolution of IT Technology Vendors for sell IoT. However, many of these companies still have difficulty in forming and finding good sellers of IoT

The truth is that nowadays it does not make any sense to sell IoT as a technology. Enterprise buyers only want to buy solutions that provide measurable business outcomes while, in the other side, many IoT Vendors only want to sell their portfolio of products and services that have been categorized under the umbrella of IoT, either as quickly as possible or at the lowest possible cost.

During last 5 years, I have been analysing how IoT companies sell their products and services. Some of my customers (Start-ups, Device vendors, Telco Operators, Platform vendors, Distributors, Industry Applications, System Integrators) requested me to create IoT sales material to train their sales team about how to sell their IoT solutions and services. And sometimes I also helped Head Hunters or customers searching for IoT sales experts

Based on this varied experience I have launched this year a new service: “IoT Sales Workshops” to help companies train their internal teams in how to sell IoT. Here are some of the lessons I learned

  • There is a time for act as an IoT Sales generalist and a time for act as an IoT Specialist.
  • You need to adapt the IoT storytelling based on your audience.
  • Being an IoT expert is not synonymous with being successful in selling IoT.
  • You need to show how companies can get more out of IoT by solving a specific business problem.
  • Make it easy for the customer to see the benefits of your IoT product or IoT service and what is the value you are adding.
  • Given the complexity and specialization of IoT by vertical, explain companies the need to focus more closely at business cases, on their IoT business model as well as the ROI over three to four years before jumping into technology.
  • You need to be patient because IoT selling is not easy and takes time align strategy and business needs with the IoT products and services you are selling.
  • Build a strong ecosystem and make easy the customer the adoption of end to end IoT solution collaborating with your partners.
  • Train your IoT Business and Technical experts to get better at telling stories. Design a new marketing and sales communications playbook. Keep it simple. Build your narrative from the foundation up – one idea at a time.
  • If you want an IoT sales expert you need to pay for it (not expect miracles from external sales agents working on commission base).
  • IoT Sales is a full-time job. You will not have time to other enterprise activities.
  • Selling IoT to large enterprises is a teamwork process.
  • Be Persistent. Do not expect big deals soon.
  • Be Passionate, Be Ambitious, Be Disruptive to sell IoT.

Summary

I do not consider myself an IoT sales expert. And of course, neither a superman of sales. In fact, I have shied away from classifying myself in the role of a pure salesperson even though over time I have given a weight and value to this work that once seemed derogatory to me.

Sell IoT is not easy. In a few years we will have forgotten of the word IoT and we will be selling new hypes, but in the mean time you need to be prepared for disillusionment moments, long sales cycles and a lot of work with sometimes poor results. However, I do not know if will be 2020, suddenly if you persevere you probably will be awarded as the best IoT sales expert and you finally will earn a lot of money.

Be Persistent, Be Passionate, Be Ambitious, Be Disruptive to sell IoT

 

Thanks for your Likes and Shares

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The Internet of Things is revolutionizing the retail industry, coming in it with the improved shopping experience, automated business processes, enhanced digital marketing, and optimized inventory and supply chain management.

Providing retailers with various advantages, IoT technology also enables them to boost sales and increase customer loyalty. Oracle discovered that when applying RFID tags, retail companies can achieve 99% inventory accuracy, a 50% reduction in out-of-stocks, and a 70% reduction in shrinkage.

 

The global IoT retail market is predicted to grow from $14 billion in 2015 to $36 billion by 2020, at a CAGR of 20%. In its report about the Internet of Things, Verizon found that retailers believe in the IoT potential and have a positive attitude towards adopting IoT in their work:

 

  • 77% of retailers said that IoT solutions help improve the customer experience;
  • 89% of companies said they got the understanding of customer shopping habits, needs, and preferences thanks to using IoT solutions.

 

Promising to innovate and transform the retail industry, IoT solutions are becoming widely introduced for solving a wide range of issues. Here I’ve listed the main use cases describing how IoT is applied by retailers and what benefits they do receive.

 

IoT applications in Retail

 

Beacon alerts & in-store navigation

 

Customer interactions are a key success factor in all business. Through beacons, retailers can easily reach the user audience, increase customer loyalty, and raise profit. Beacons are IoT Bluetooth-enabled devices that use low-energy Bluetooth connections to automatically send push notifications directly to user smartphones once they appear in the operating area.

As beacons are small, they can be attached to almost any place, for instance, walls and counters. In the retail industry, beacons are mainly used for customer in-store navigation, sending push notifications, and collecting customer data.

In connection with mobile applications, retailers can motivate customers to make more purchases by notifying them about discounts and special offerings when they enter the coverage zone, generally near a certain shop. Also, in large shopping centers, beacons are irreplaceable for navigating customer and showing them the best routes to the place they need.

 

Customer data

 

Customer data plays a key role in any business dealing with customers. Retail companies do need to know their audience in order to make them make purchases and increase profit while delivering an amazing personalized experience. Satisfied customers are returning clients.)

IoT solutions suit great for collecting customer data, including the determination of customer buying habits, needs, preferences, favorite routes in the shopping center, and the most popular goods as well.  

By sending all these data to the analytical system, where it’s processed and analyzed, retailers can find out what they should improve. In some cases, for example, it will be better to change the placement of shelves or clothes. Also, with the audience understanding retailers can launch successful marketing campaigns and provide personalization.

 

Personalized shopping experience

 

Traditionally, customer relationships were built on the basis of face-to-face communications. For now, personalized experience takes the center stage and significantly impacts consumer purchasing decisions.

To boost sales and retain customers, retail companies are adopting IoT solutions to deliver the best shopping experience possible. By using beacons, mobile apps, push notifications, and customer analytics, retailers get the ability to understand the needs and preferences of their customers and ensure successful targeting when creating advertising campaigns.

 

Supply chain management

 

Like in many other sectors, supply chain management takes an important part in the retail too. Retailers integrate IoT solutions for load tracking, driver activity monitoring, tracing the delivery process, transportation management, as well as viewing load/driver location in real time. This way, the Internet of Things can enable a transparent supply chain management and help achieve “just-in-time” delivery much easier.

 

Optimized asset management

 

IoT applications are widely used for asset tracking and management. Using RFID tags, mobile apps, and other technologies for inventory tracking, retail companies can accomplish up to 100% inventory accuracy, minimize unexpected out-of-stocks, enable end-to-end store inventory management, and increase sales margins by up to 10% as a result.

What’s more, IoT solutions provide retailers with the ability to track the assortment of goods, analyze product popularity, and check out the information about goods any time they need, including their availability in the store, brand name, price, and description.

 

As you see, there are many useful IoT applications in the retail industry. With the use of additional devices and technologies, improvements in sensors, enhanced connectivity and machine learning tools, retailers automate operations, optimize various processes, reduce costs, and deliver the personalized experience.

 

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