Internet of Things – The Next Step to Business Excellence

The year 2016 has already kicked off and the biggest buzz in the industrial sector in this year is Internet of Things (IoT). The benefits of IoT are being accepted across the industries like logistics, manufacturing, healthcare etc. And it is certain that this is going to be the biggest trend in the industrial sector for 2016.

Actually, in the year 2015, a number of companies had invested in Internet of Things for the improvement of their business and they have experienced the difference. So, this year they will invest even more for much better results. This is still an untapped area for businesses. The companies are gradually experiencing the benefits of data-driven decision making.  

From smart to smarter factories
Smart factories are very much in trend now. Factories are getting smarter with the use of Internet of Things. A number of studies have revealed that factories and manufacturers are going to be the biggest benefactors of IoT having an economic impact of around 3.7 trillion per year.
When it comes to companies that have successfully adopted Internet of Things solutions, the name Stanley Black and Decker is sure to arise. In order to improve the transparency of its router production line and also to improve labor efficiency, Stanley created a Real Time Location System. This consists of an active RFID tag which is very small in size. This tag is attached to every material and it is accessed through WiFi. Now, this has made it easy for the workers, plant managers to know about the assets location and status in real time.
This RFID tagging is now being used in other industries as well. But there are still a number of companies to gain from this technique.

More efficient logistics
Other than factories, the logistics industry has also adopted Internet of Things. The Port of Hamburg is the biggest example of it. This is one of the largest logistics players. The port deals with 140 million tons of goods every year in 9 millions containers. With around 40,000 trucks arriving daily, ports authority was looking to increase efficiency through technology.

In a joint venture with SAP and Deutsche Telekom, they created Smart Port Logistics. This is a mobile business cloud system through which stakeholders are connected all the time. Information about every component in the harbor like trucks, containers, ships, people, and bridges is available to everyone. This has resulted in trucks are reaching at the destination faster, they know where to unload, actions on various other aspects can be taken real time.

Formation of new business model
Along with optimizing businesses, Internet of Things is also providing new opportunities for the businesses. Semios is one of the fine examples of this. They have used a network of video cameras, pest traps, pest repellent emitters to assist the farmers in timely evaluation of their firming field. Instead of hiring pest managers on a bi-weekly basis, they can now collect information about pest management on a daily basis through the Semios’ pest management system. This is less expensive and convenient.
Internet of Things is going to be the real game changer in the business field in the year 2016. Apart from the traditional businesses, this can be advantageous for the entrepreneurs as well. Anyone, capable of generating actionable insight from their IoT infrastructure can make their company run much smoother and smarter.