How IoT Helps Digital Transformation

How IoT Helps Digital Transformation

Digital transformation is today at the heart of business strategies for most businesses. The significance of digital transformation and what it means for enterprises can be gauged from the fact that the CEO of a major global financial institution not so long back believed digital transformation helped them transform from a ‘bank’ to a technology company in the financial services industry.

As companies grow their business, increase operational efficiency, and deliver exciting customer experiences the future roadmap belongs to a digital era. The growing use of digital technology on one hand and rise in the number of multiple devices has meant internet of things (IoT) has emerged as a futuristic solution. Companies are today making use of various IoT service providers or IoT consultants to make sure their business adopts a tailor made IoT strategy for the future.

IoT and digital business transformation

IoT service providers can help make a successful IoT transition. Find out how?

While IoT is indeed a new age tool for a successful digital transformation, it comes with its set of challenges. From security needs to operational requirements, software management and handling of IoT operations, IoT cloud platforms, etc. companies are looking at IoT service providers to help them make a successful IoT transition.

IoT allows for an ecosystem where physical objects, machines and multiple devices all exchange real-time data with each other. This sharing of data and information passed on by sensors happen across networks and data centers. With the cost of technology falling rapidly opting for an IoT ecosystem is today far more budget friendly. The costing factor is alone a prime mover in promoting an IoT ecosystem across industrial and verticals from manufacturing to consumer goods retail and others.

IoT and data analytics driving digital growth

The number of connected computing digital devices has witnessed a steady increase leading to an IoT ecosystem. In fact a research by popular US research and advisory firm, Gartner has estimated that IoT will support total services spending exceeding $263 billion by 2020. With a rise in the number of connected devices from cars, to household electronics and from RFID tags to smart meters and electronics, the common occurrence is digital data.

This data is used by IoT analytics breaking down digital data into trends for enterprises to understand the pulse of the consumers. IoT is therefore not just offering a multi connected ecosystem but is supporting data analytics promoting a digital transformation for enterprises.

IoT cloud platform and digital transformation

Cloud platforms make digital transformations more cost effective. Find out how?

IoT cloud platforms have meant that businesses are mitigating to the cloud much faster than any time compared in the past. With cloud based computing, businesses are adopting an agile and flexible approach in tune with changing market times. For example the use of IoT cloud is enabling employees to bring their own digital devices or work from home much more seamlessly driving digital growth across organizations. Cloud platforms that connect to people and devices around the globe make digital transformations more cost effective and easier to manage for organizations.

IoT bridging physical and digital growth

Digital growth has witnessed a change right from the internet age to the SMAC or (social, mobile, analytics, cloud) age. IoT solutions providers with their rich experience in digital assimilation are today able to rapidly prototype various IoT offerings helping businesses gain immensely. As a result IoT is bringing together physical devices using sensors and smart machines to exchange the real-time information.

How IoT is supporting a thriving digital ecosystem

IoT is not just a transformation to help businesses achieve more scalability but also offers a thriving ecosystem around it. Hardware manufacturers today for example are creating value addition devices that are IoT ready. IoT solution providers and IoT consultants are offering specialized service to help businesses transform and mitigate to IoT, cloud infrastructure and database are using intelligent automation like never before.

IoT’s disrupting business models and digital transformation

IoT is helping enterprises and businesses build smarter and more connected products and services. As a result enterprises are facing disruptive business models making way for new value creation and value capture. Smart connected products are not just changing the way business was done by forcing a traditional transformation to a digital one it is also creating new industries. The example of Uber as a successful taxi marketplace without owning a taxi or success story of Tesla as a primary technology enterprise are all directly related to IoT’s smart connected product offerings.

The digital transformation of enterprises and businesses has received a new overview thanks to increasing popularity of IoT. IoT is helping business transform digitally offer smarter products and services.