The Internet of Things is revolutionizing our world. Whether smart production, modern medicine, smart cities or agriculture 4.0 – the Internet of Things is a central building block in digitalization. But which technologies should be used? What about security? The IT and electronics world driven by the USA and China, many people immediately think of the numerous connected consumer gadgets when it comes to the keyword Internet of Things (IoT). But IoT is more than just a consumer issue – the technology has also taken the B2B segment by storm and is now indispensable there.
The advantages that IoT offers in business in establishing new business models or in manufacturing are too great, for example, if the required machine maintenance can be accurately predicted or the product quality in the manufacturing process can be kept at a constant level. Thanks to IoT. But these are just a few examples such as IoT economy and It Revolutionized. IoT is revitalizing logistics, production, healthcare, industry, cities, agriculture or transport are permanently changed and will shape in the future.
Digital transformation (DT) is all about data. IoT-based digital transformation is applied to physical products in various manners. Brick-and-mortar stores have the disadvantage compared to the digital counterparts in lacking the data analytics part which the online retailers can easily obtain. With the implementation of IoT in the form of sensors, the retailers will now have a better view of customer behaviors in a digitalized manner. By analyzing data and trends, unique insights will be obtained. These insights can be used in areas like marketing for better efficiency.
The advantages of digitalization revolve around benefits to the customer – that is most obvious in logistics and lesser obvious at the storefront of an online retailer. It is needless to say that COVID-19 pandemic has forcefully pushed the process of digitalization to a faster space.