The Internet of Things (IoT) is a web of connected physical objects that are accessible through the internet. It has the  ability to collect and transfer data over a network without manual assistance or intervention. Internet of Things can become a commonplace in all walks of life. Connecting everything and everyone. IoT is a transformational force that can help companies improve performance and deliver better results through IoT analytics and IoT Security, in order to create a more comfortable and productive work environment, gain insights to achieve peak optimisation and reduce energy consumption and costs.

There are various aspects of IoT that can really change the face of technological advancement.

• Improve the quality of a service or a product and increase the productivity of the workforce.

There is a need for a smarter connectivity network for the supply chain which can directly or indirectly affect quality of the product and productivity.  Connected device data allows the detection of pervasive issues more quickly and accurately so that such issues are contained proactively and customer dissatisfaction is prevented. Identifying issues in small subsets of the product population is a key to improving quality. In an IoT energised network manufacturing environment, the machine can communicate its output variation to downstream equipment, which automatically makes adjustments to ensure the final product is within specifications.

• Increasing  reliability of operations and Tracking supply chain logistics

The ability to identify hidden patterns, predict future events, forecast usage and costs. Deriving insights makes analytics priceless. IoT revolution will allow us to enhance those solutions by intelligently connecting people, processes, data, and things via devices and sensors. Data gathered from GPS and RFID technologies allows supply chain professionals to automate shipping and delivery by exactly predicting the time of arrival. We will be able to track  ambient temperatures, the amount of inventory, and the performance of equipment all coming together.

• Reducing cost of materials, wastage and the risk of theft and other losses.

IoT can accomplish efficiency as the presence of a single software platform ensures accuracy of safety performance. The solution can notify a potential risk , faster detection so they can take action. With improved safety management and risk mitigation, organizations will note a decrease in claims, which can save companies millions in workers’ compensation or lawsuits. Iot enables you to automatically lock doors using just an app, and receive alerts on unusual movements and then use the data captured to identify areas of concern and improve them. When IoT is on the floor, less human interaction is needed. Thus, the risk of accidents is greatly reduced.

• Accessing new customers and Increasing customer satisfaction

Customers are the most vital part for the functioning of any organisation. There are various aspects that specifically attract customers, such as- Product design and timely delivery. Collecting data about consumer behavior can highlight the features that customers find the most relevant, and helps in identifying any potential issues in the current processes. Understanding buying trends can determine better in-store product placement. Inventory and logistics are other areas where this level of real-time information can play a vital role. By connecting through phone or email, companies can refine and target their marketing specifically to the individual consumer.

Unraveling the full potential of IoT for innovative powered solutions could possibly revolutionize the approach to technology. Internet of Things has reached down into every sphere of a business. Manufacturers around the world have confidence in its abilities now. About 40% of the total survey respondents believe that smart manufacturing along with its foundational technology, the Internet of Things, is ready and that it’s the right time to invest. Only 3% dismiss smart manufacturing and the Internet of Things as pure buzzwords. IoT has the ability to actually create a positive impact on the planet. The power of the Cloud enables intelligent feedback loops that personalise experience in remarkable ways. IoT will make the world smarter and better than ever before.