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While researching for my blog on consumer interest in the Internet of Things (IoT), I came across numerous statistics and examples highlighting increased industry investment in smart devices. For example, Accenture estimates that by 2020 corporations will invest a total of $500 billion per year in IoT technology. So, as consumers crave IoT technology to save time, quickly access information and enhance efficiency, corporate enterprises are becoming more and more interested in IoT. They want to exceed consumer expectations by quickly and efficiently providing products, services and positive customer experiences—with real-time access to insightful consumer data.
Consumers want access to quality products
Since consumers have access to multiple product options, the importance of quality and dependability will continue to rise. Customers can also research purchasing information quicker than ever before, which decreases buy cycles and accelerates product delivery expectations. IBM’s commercial promoting Watson—a smart computer system able to answer important business-specific questions—provides an excellent example of how IoT can improve production and product quality. Another company, VeriSolutions, utilizes an IoT platform to offer smart, connected restaurant solutions, which include sensors to measure humidity and temperature data and to ensure food safety.
Consumers demand constant access to easy, accessible services
Consumers expect that all industries will offer quick and accessible services. The Amazon Prime Now fulfillment center model is a salient example of utilizing IoT to serve customers in mere hours. The prevalence of IoT devices in the healthcare industry is also rising, with smart beds that can detect whether patients attempt to get up or home medication dispensers that notify healthcare providers if medication is not taken. These smart devices ensure that consumers receive more personalized service with a greater level of excellence.
Consumers ultimately demand excellent customer experiences in every industry
As consumers, we want positive experiences in every major industry. From smart parking in cities to smart golf courses that ensure quality greens, the customer experience is an extremely important factor to success. IoT enables many industries to meet these consumer demands.
Prominent power brands are utilizing smart devices to share specific skills that enhance a consumer’s experience with a product or service. For example, Tide is utilizing the Amazon Alexa device to share stain removal instructions along with a way to purchase more laundry detergent through Amazon.
How can businesses take advantage of IoT technology?
Once businesses determine how they want to incorporate or expand their IoT technology, there are some steps to think about during implementation. A U.S. News & World Report article highlights some great tips to take advantage of industrial IoT technology. From developing a pilot program to focusing solely on IoT decisions to enhance the customer experience, the article provides a high-level overview on how to start incorporating more smart devices into current organizational practices.
Lastly, companies should ensure their network infrastructure can handle the massive increase in IoT data. Successful IoT technology ultimately relies on a converged, high-performance network infrastructure. Businesses that leverage this technology can easily access important information, efficiently deliver products or services, and make sure their customers enjoy excellent brand and product experiences.