Technology has always supported organizations to achieve higher growth and also attain their
expansion goals and also the expectations of business leaders from technology are increasing. Having tasted success by using the Internet of Things, (IoT) has completely changed business operations by streamlining it and giving it a cutting edge over the competition. IoT has become central to corporate strategy for creating roadmaps. The familiarization with the technology of IoT and also the ensuing results have made business leaders more confident of getting more from their businesses, says Hani Zeini. Organizations are ready to skip the pilot phase and go for the implementation directly.
Businesses that haveused the technology are aware of its immense potential to solve day-to-day
problems in real-time. Delivering practical results has been the hallmark of IoT. It has empowered enterprises and also business leaders to take their businesses to great heights.
Evolving in the face of disruption with IoT as the key driver -Hani Zeini’s View
To understandthe latest IoT trends, you must first understand the industry’s broad trends that
impact the marketplace, believes Hani Zeini. Companies know that they must overcome the disruption to keep evolving. The rate of disruption accelerates under the influence of technological change. Enterprises that are ready to disrupt the industry and also move towards attaining their goals using technology as the driver of change – this facilitates the businesses’ transformation and ensures their survival in the long run. When industry disruption occurs, only 33% of the companies can successfully navigate the change, and also the remaining 67% are either bought out or go out of business. IoT is the key to digitizing assets across the industries. IoT helps to build efficiencies by using data of all kinds, big and small.
Shifting focus from products to services
Recognizing the shifts of the market and also adapting it quickly helps businesses survive the
change, as evident from the shift in focus from products to services. By using IoT, organizations get the tools for creating corporate strategies to facilitate the shift from products to services. IoT’s ability to extract real-time operational data by using an inexpensive wireless microcontroller(MCU) – it seamlessly sends information to the cloud and also launches an arrangement of real-time application services which opens up new opportunities.
Unlocking new customer value
Empowered by IoT;companies are going through digital transformations to unlock new customer
value by delivering advanced real-time services. A typical example of using IoT in industries for preventive maintenance is by shifting the focus from routine and planned maintenance programs to a more dynamic and also real-time model, based on failure analysis that allows creating predictive maintenance programs. As a result, it is possible to avert any serious problems and also ensure the equipment smooth running. The increased availability of equipment boosts productivity, which translates to providing more value to customers by ensuring the timely delivery of quality products.
The new forms ofreal-time services have changed the face of the industry that can now deliver
more than what it promises.