As enterprises invest billions of dollars in solutions for the Internet of Things (IoT), business leaders seek compelling IoT use cases that tap into new sources of revenue and maximize operational efficiency. At the same time, advancements in data architectures and in-memory computing continue to fuel the IoT fire, enabling organizations to affordably operate at the speed and scale of IoT.
In a recent webcast, Matt Aslett, Research Director at 451 Research, shared use cases across six markets where IoT will have a clear impact:
Seen as the ‘roots of IoT’, organizations in the industrial automation sector are improving performance and reducing downtimes by adding automation through sensors and making data available online.
When people think about IoT, household utilities like thermostats and smoke alarms often come to mind. Smart versions of these devices not only benefit consumers, but also help utility providers operate efficiently, resulting in savings for all parties.
Bringing radio-frequency identification (RFID) online allows retailers to implement just-in-time (JIT) stock-keeping to cut inventory costs. Additionally, retailers can provide better shopping experiences in the form of mobilized point-of-sale systems and contextually relevant offers.
Connected health equipment allows for real-time health monitoring and alerts that offer improved patient treatment, diagnosis, and awareness.
Transportation and Logistics
IoT is improving efficiency in transportation and logistics markets by providing benefits like just-in-time manufacturing and delivery, as well as improved customer service.
The automobile industry is improving efficiencies through predictive maintenance and internet enabled fault diagnostics. Another interesting use case comes from capturing driving activity, as insurance companies can better predict driver risk and offer discounts (or premiums) based on data from the road.
Finding the Internet of Your Things
To take advantage of IoT, Matt notes that it is paramount to identify what top priorities are in your specific case by asking the following questions:
Are there ‘things’ within your organization that would benefit from greater connectivity?
Can better use be made of the ‘things’ that are already network-ready and the data they create?
Are there ‘things’ outside the organization that would benefit from greater connectivity?
Is there a way to reap value from your customers, partners, or suppliers’ smart devices that would be mutually beneficial?
If you answered ‘yes’ to any of these questions, there is a good chance your organization can improve efficiency with an IoT solution. To get started, watch the recording of the IoT and multi-model data infrastructure webcast and view the slides here: