Internet of Things Benefits

    1

    Advanced Business Insights

    IoT technology allows you to connect data from areas of your business that were previously inaccessible from an analytics standpoint. Using advanced analytics tools, you can derive valuable business insights about your day-to-day operations, including how your assets are used and maintained.

     

    With these new insights, you can drive your business strategy to pursue better efficiency and unlock additional value from your investments. You can even use IoT data to optimize customer experiences, replacing reactive service with automation and proactive services.

    2

    Predictive Capabilities

    IoT data allows you to predict needs within various parts of your business before you must act. When your business assets provide you with real-time data, you can identify trends that indicate it’s time for intervention or additional service.

     

    This capability is particularly important in manufacturing and field service. If your customers and clients use your machines and products as part of their business operations, you can use predictive analytics—powered by IoT data—to provide predictive maintenance and maximize uptime.

    3

    Proactive Monitoring

    IoT sensors and intelligent devices allow you to manage the network of physical objects more effectively within your business and beyond. There’s no need to sift through several layers of data to obtain intelligence about objects that are deployed in the field or already in your customers’ hands.

     

    Instead, IoT data supplies all the information you need about those objects’ hardware and firmware. You can even analyze how objects are being used and what best practices can be applied to extend their longevity and effectiveness.

    4

    New Products and Services

    IoT technology can open an entirely new channel of products and services for you to offer your customers. It’s a key component of the outcome-as-a-service model, enabling you to integrate services with the products you sell as a complete package.

     

    When you collect data from the products you sell and maintain, you can bundle service and product packages to simplify the sales experience for the customer. IoT technology even opens new opportunities to provide your customers with transparency into the products they purchase.

    Harness the Power of IoT with Uvation

    With Uvation, you can develop an IoT strategy for your business that improves the customer experience and drives significant ROI. Our team of technicians will work with you to deliver quick wins from your initial IoT investment, help you leverage IoT data to streamline your operations, and explore a wide range of business opportunities.

     

    Contact Uvation today to take the next step in your IoT strategy.

    Harness the Power of IoT with Uvation

    Internet of Things Explained

    The Internet of Things (IoT) refers to the network of billions of devices that are connected to the internet. All these devices collect data, either by storing it on each device itself or by sending that data via the internet to a database. IoT technology would not be possible without the continual downsizing of technology or the affordability of extraordinarily powerful computer chips.

    Some people get confused about what an IoT device is. But the easiest way to understand IoT is to reach into your pocket and pull out your smartphone.

     

    Your phone is a small computer that is connected to the internet via Wi-Fi or through a cellular network. Unlike a website, which only exists virtually, your smartphone is a physical thing you can hold in your hand and manipulate to complete tasks.

    Because it is a thing that is connected to the internet, it is a part of the Internet of Things.

     

    IoT devices can be as large as a ship or airplane, or as small as a grain of rice. Almost any object could be considered a part of the Internet of Things—if it includes sensors or other computer technology that provides it with digital intelligence.

    01

    Internet of Things for Businesses

    Most businesses use IoT technology to obtain data about their products and physical assets. Once this data is collected, it can be analyzed to reveal insights about how those devices are being operated, how they fit into business operations, and how they provide value for the customer.

     

    For example, an automaker builds vehicles by combining several parts provided by original equipment manufacturers (OEMs). Potentially, each one of those parts, along with the vehicle itself, can be equipped with sensors to become part of the Internet of Things. Those sensors can then collect data after the vehicle is purchased by the customer, then relay that information both to the auto manufacturer and the OEMs.

    alongside internet connectivity

    Those companies can then use that data to better understand how their products are being used, when they need to be repaired or replaced, and how they can be improved. This provides them with more service capabilities for the customer, including the ability to sell maintenance guarantees and inform the customer when it’s time for repairs.

     

    Companies can also use IoT data internally to measure how effectively they are using their equipment. The data they generate can reveal insights that lead to better efficiency or ways to improve the lifespan of those investments, thus saving the company money.

    02

    Internet of Things Statistics

    Since the conception of IoT several years ago and it’s practical applications within a wide range of industries, IoT has generated an abundance of use cases.

    5.8 billion

    5.8 billion enterprise and automotive IoT endpoints were in use in 2020.

    41.6 billion

    There will be 41.6 billion connected IoT devices by 2025.

    79.4 zettabytes of data

    The Internet of Things will generate 79.4 zettabytes of data by 2025.

    $11.1 trillion per year

    IoT will have a total economic impact of as much as $11.1 trillion per year by 2025.

    100%

    100% of the global population will have low-power wide-area network (LPWAN) coverage

    54%

    The main value driver for 54% of IoT enterprise projects is cost savings.

    IoT Strategy with Uvation

    Uvation will work alongside your team to develop a strategy for leveraging the Internet of Things at your company. Whether you want to gain insights into your physical assets or deliver new, data-driven services to your customers, we’ll help you begin leveraging IoT so that you can start seeing value quickly.

    Identify Your Key IoT Objectives

    Our first course of action will be to determine your objectives. We’ll work with you to envision your company’s future with IoT, then help you deliver a roadmap that will take you there. With a focus on key metrics and KPIs, our goal is to deliver a significant return on your IoT investment.

    Select IoT Solutions

    There are a wide variety of IoT devices and platforms on the market. We’ll lend you our technical expertise to help you select which IoT solutions are right for your company. We can help you and your team overcome barriers to IoT implementation and educate stakeholders on how to leverage your new technologies as well.

    Prepare Your Technology Stack for Data Analysis

    Once connected, your new IoT ecosystem will generate additional data that your company must absorb and analyze. We can help you deploy the computing infrastructure you need to leverage that data for business insights and value.

    Internet of Things Technologies

    IoT Devices

    IoT devices are the primary technology for driving business benefits from IoT. These are the physical objects you use in your business or sell to your customers that have been equipped with sensors to generate data.

     

    Your company’s IoT devices could be of almost any size, and you could use them for various purposes. If you use physical machinery to generate products, if you wish to collect logistics data to better understand your supply chain, or if you just want to get a better idea as to how your staff is utilizing your company’s equipment, you’ll need IoT devices in place to pursue your strategy.

    IoT Gateways

    An IoT gateway enables the communication between separate IoT devices or between IoT devices and the cloud. A gateway usually includes two components: a piece of hardware, and a piece of software that operates within the hardware. The software is what makes communication between IoT devices and the cloud possible.

     

    The best way to imagine an IoT gateway is to compare it to the internet router you have at home.

     

    Your router serves as a gateway between your computer, laptop, tablet, or smartphone, and the internet at large. It can also serve to connect devices within your home as part of a local access network (LAN) in the same way localized IoT devices might communicate with each other. Your router includes security features that protect your network, as do the devices that it connects to the internet.

    IoT Platforms

    The true value of IoT can only be unlocked when devices, software, and a user interface are connected to your business systems. An IoT platform helps to facilitate communication between IoT devices and your business, providing a user-friendly way to manage data, devices, and the function of your IoT applications.

     

    IoT platforms can also provide levels of security to your IoT devices and sensors, so they can’t be hacked or manipulated. You’ll also be able to collect, visualize, and analyze data generated by your devices, so you can draw insights for use in your business. Most IoT platforms are cloud-based, allowing them to handle large amounts of data from several different sources.

    Chat with an Uvation expert for a 30-minute strategy session at no cost

    Get answers to your questions or schedule a free consultation

    Chat with an Uvation expert for a 30-minute strategy session at no cost