Industry leaders are constantly searching for methods to become more efficient and continue to deliver the best possible customer experience. One revolution that is changing the business landscape is the Internet of Things, a series of connected devices that collect, share and analyze to complete tasks and offer insight into different sectors. Businesses have been implementing IoT enabled hardware and software throughout many of its processes and here are some of the ways they are becoming more efficient.
Insurance: Insurance companies have now been giving their customers sensors to put into their cars to track driving habits. Based on the amount of speeding, hard brakes, and other factors, these devices deliver the data back to the company and evaluate driving behavior in order to reward customers for good driving and penalize them for the opposite. Similarly, these companies also give their policyholders devices that track health habits in order to reward good habits and promote wellness overall.
Airlines: It has become an airline standard to offer customers baggage tracking so they know where exactly their bag is and when they can expect to have it ready. This is enabled through RFID tags that airlines put on bags that are interconnected with sensors from the moment it is dropped off while checking in. These sensors keep track of the bag and work with the airline’s app to push notifications to the customer and give them a peace of mind knowing they can expect their bags right when the app says so.
Manufacturing: The Industrial Internet of Things (IIOT) is where companies see major efficiency and workflow upgrades. Sensors implemented in factories can detect when a machine goes down, and allow engineers to pinpoint exactly what system is down and work quickly to resolve the issue. These same sensors can even predict when a machine is going to go down before it even happens. IIOT can be used in logistics to help manufacturers manage the supply chain more efficiently. From the factory to the warehouse, every part of the whole can be tracked and accounted for, resulting in less loss and improving the bottom line.