Let’s face it, with all the growing world of technology; it’s difficult for businesses to keep up to date. The Internet has become more than a revolutionising technology that connects devices and sensors. It has allowed business organisations to create new products and services. The recent Forbes Insight survey states that 60% of the organisations are transforming new lines with the help of the Internet of Things (IoT).
But what if IoT combines with analytics solutions? You have probably come across the term IoT analytics. IoT analytics is a process where we use data analysis tools and other methods to evaluate the value of data leveraged from different IoT-connected devices.
You can also implement IoT analytics to manage all business enterprises where data helps in driving important decisions. Research has shown that the global IoT analytics market is expected to reach about $27.8 billion by 2022. This means analytics solutions such as data and business analytics also play a pivotal role in harnessing business growth.
Both the Internet of Things and analytics have incredible potential to unleash the latest trends and opportunities through data-driven solutions. Top cloud providers such as Microsoft Azure Services are further supporting organisations to leverage ground-breaking technology with Azure IoT and Analytics solutions.
In this blog, we will discuss in brief how the Internet of things and analytics help to escalate your business further up.
Automate the Entire Workflow of the Organisation
We have probably heard about the Industrial Internet of Things (IIoT) and Industrial 4.0. But do you know what happens when these innovative technologies come together with analytics? Well, it simply automates the entire workflow of your organisation. You are aware that automation has indeed become the backbone of business progression.
Not to be confused with managed IT services, IoT and analytics have allowed businesses to improve their workflow environment. The employees can work even from remote and distant locations without any hassle with the help of sensor-connected devices. Workflow automation refers to the generation of real-time reports to make quick, apt decisions.
The Internet of Things has also helped business enterprises to reduce energy usage with smart IoT devices. The Internet of Things can help you evaluate the condition of your machines and predict when it’s likely to develop a snag so that you can send them for repair in advance.
Undertaking Important Business Organizations on Mobile Platform
Enterprise Mobility Solutions that allows business organisations to unleash a plethora of opportunities. For example, enterprise mobility mitigates the possibilities of data loss, boosts mobile app security, and increases productivity.
Furthermore, an enterprise mobility platform enables organisations to access real-time information from anywhere using multiple devices. It is important to note that cross-platform mobile apps have become a key source for providing vital information. And it certainly becomes an added advantage for any enterprise when these applications integrate with analytics and IoT. It offers real-time insights right on mobile devices.
It further helps the management team to make improved business decisions for potential customers. For example, cloud-based Azure solutions help large enterprises to focus on making strategic decisions regarding the implementation of new software, updating the servers, data security, and much more. Similarly, we have smart metering solutions that help us to measure the utilities and prepare for conservation in real-time.
Data analytics and IoT help the business determine futuristic customer trends and plan to launch new products and services accordingly.
Utilising Your Resources in the Best Possible Manner
The Internet of Things and Analytics has gone shoulder to shoulder when it comes to optimising the proper usage of resources. The top-level management can indulge in improved planning about how to use the available resources in the best possible way.
In addition, the introduction of predictive analytics has played a vital role in professional resource management that can lead to an escalation in the overall performance of the company.
Predictive analytics also plays a decisive role in the reallocation of the tasks to the right person at the right time. This is possible because analytics provide enterprises with accurate real-time statistics.
The most significant benefit that any organisation can gain from the optimation of resources is that it can save both a lot of money and time. This would also lead to a surge in the production and timely delivery of the projects. In fact, you can discover many new areas and opportunities to venture out.
Optimal Disaster Planning and Recovery
There is no denial of the fact that the Internet of Things has become one of the essential perks in disaster management. Natural disasters are inevitable, and they come unalarmed, leading to havoc and mass destruction of property. But IoT and analytics have changed the previous scenario.
The smart and powerful IoT sensors provide real-time data, which you can use to analyse and monitor the warning systems effectively. This helps the concerned industries to make strategic decisions and take precautionary measures in advance.
Let’s take, for example, that if there is a warning about a hurricane or intense cyclone, the organisation would ask the workers to shift all manufactured products to a safe place. Similarly, if the emergency alarm sounds about a possible gas leakage, the machines will shut down automatically. Thus, it will lead to a minimal loss of property and revenue.
Managing Critical Systems in Real-Time
The Internet of Things and Analytics has proved a gem of an asset for business enterprises. With Azure IoT and analytics services, you can easily manage the crucial operations of your business in real-time.
You can derive humongous amounts of data from streamlining your daily process. For instance, you can monitor your assets, thoroughly scan the security and fraud detection, and track your performance on a day-to-day or weekly basis.
You must note that analytical solutions are built for processing data with the help of artificial intelligence and machine learning algorithms. It helps businesses gain more insights regarding predictive analytics. You will become familiar with future events and take appropriate actions beforehand.
IoT and analytics are the hotbed trends helping businesses to drive important decisions on various aspects. You can look forward to implementing both these innovative technologies to take your business higher up the scale.