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IOT and its Benefits in Businesses

IOT and its Benefits in Businesses

What is IOT

IOT or Internet of Things is the way of interconnecting physical devices, smart devices and other embedded devices which includes sensor, electronic circuit, software with some network that allows exchange of data between the two. In a nutshell a thing can be represented as any physical entity having some sensors or electronic module which gets connected to ‘internet’ or a network making the term Internet of Things. Let’s take an example of smart home, here the entity smart home works as a ‘Thing’ which is connected to internet allowing the user to remotely control, monitor the electronic devices at home.

Why IOT

IOT helps the consumers, businessmen and people from all sections of society to ease their daily life activities and deliver a better optimized outputs. IoT can significantly reduce the overall production expenditure in an organization by streamlining the processes using the analytical data from its sensors, which thus helps in generating a better revenue. This approach has a massive potential to transform any business and take to a much higher level.

Scope of IOT

Researchers have already forecasted that by the year 2020 the number of IOT devices in market will grow to 30 billion from the current value of 10 billion. These type of predictions are very well supported by the growing market of smart devices. IOT is a game changer that can help organizations in improving their productivity by using various services provided by it like analytics, security etc. Various industries like finance, retail, petroleum can take the aid of IOT in order to increase benefits by taking more intelligent decisions backed through interactional  data, which is ready at disposal.

 

Optimized Operational Output–. IOT reduces human involvement and energy costs by using real-time data from sensors to monitor and enhance process efficiency. The data obtained can be used to minimize downtime due to maintenance, inventory, as well as time to market.

 

Improved security: – IOT not only resolve problems faster by coordinating with team but also helps business to improve workplace safety by using sensors and cameras which help monitoring equipment.

 

Better Asset Management: Real-time data obtained from sensors is used by IoT to monitor and improve efficiency, promote automation and reduce energy costs. The obtained data can be used in minimizing various roadblocks like maintenance or inventory downtime.

 

Improved Decision Making: Organizations can implement real-time operational insights to make smarter and faster business decisions and reduce operational costs. IOT helps in prioritizing and distributing all business decisions.

 

Better Cost BenefitsInternet of Things (IoT) can boost the productivity and efficiency significantly in an organization through better assets and resources utilization.

 

IoT not only resolve problems faster by coordinating with team but also helps business to improve workplace safety by using sensors and cameras which help monitoring equipment.

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IOT and CRM will drive your customer service to the future

IOT and CRM will drive your customer service to the future

“The Internet is becoming the town square for the global village of tomorrow”. Bill Gates

 The term, “IOT” stands for Internet of things. The thin demarcation between living and non-living things is overcome with IOT. It provides data about non-living things with the help of motion sensors RFID tags and QR Codes etc. Internet of Things makes use of several different technologies, including RFID tags, QR Codes, and sensors that can be attached to items and devices to read information encoded in these tags. These connected devices may communicate through a wireless Internet connection, or through direct scanning of tags by sensors.

How IOT automate our life by improving efficiency?

The term “Internet of Things” is the brainchild of British technology pioneer Kevin Ashton. He was the pioneer in this technology. IOT gives us the ability to understand the world of things by gathering and collect real-time data and act on it by analyzing the information improving operations and enhancing global productivity. IOT and CRM are beneficial for the industry and home automation. This comes as a boon to the manufacturing industry to monitor and service the device of the customer equipment and assures whether the device or the equipment is running smoothly.

The perfect mix of IOT and CRM foster excellent customer service

Customer service is another prominent factor that influences and balance the growth of an evolving business. The fact that the product and services supplied by a company meet the satisfaction level of the customers is directly proportional to influence the key critical business decision to manage and improve business.

The crucial part of sales management in business focus on retaining new customers as gaining new customers is expensive. Customer satisfaction plays a vital factor as most of the customers are tech-savvy and directly involved on social networking sites, as it impacts social listening influencing reviews on product and services to accelerate customer lifetime value and minimize customer concerns.

 

Customer product connected with IOT device push notification of real-time data for malfunctioning and faulty device

  • Customer concerns are resolved in a simplified smart way as product maintenance is carried out automatically by IOT technology embedded in CRM cloud. By integrating device (purchased product) to the CRM cloud and the IOT cloud all the information related to the malfunctioning of the device is sent to the customer service or local technician.
  • Customer connected devices send notifications to the smartphone of the customer support personnel and the CRM software looks into the details of the available service technician and configures a case about an issue in the device, then CRM assigns a technician to the case.
  • With a seamless mix of IOT and CRM together swift proactive steps are carried by the technician or service reps to provide instant maintenance to the customer’s device.
  • Preventive maintenance steps are taken for the connected customer equipment by sending a technician or the field service either to fix it or troubleshoot the problem remotely
  • The CRM software logs a case for your device providing proactive maintenance by sending email and SMS messaging to notify the customer both on the personal digital assistance and on the social media platform.
  • IOT and CRM are valuable for the overall household appliances monitoring as the housekeeper will be well-informed in advance about the faulty devices.

Taking an example of the home appliances we have a commercial refrigerator that can be monitored effectively with an inbuilt sensor connected to the internet. When the refrigerator starts malfunctioning and the owner does not know about this. Then the comprehensive combination of IOT and CRM plays a vital role as the device sensors send data about the temperature reading to an azure IOT CRM database.

After the real-time analysis of the refrigerator CRM data consisting of the dropping temperature, an instant alert is generated in MS Dynamics 365, an innovative CRM sales management software for field service which triggers a workflow process. The field tech is notified about this on his smartphone to fix the problem and the supervisor of the field technician is updated about the complaint resolution.

Personal digital Assistance in the form of smart electronic gadgets, consisting of smartphone and the tablets, connected to the Azure IOT and centralized CRM data, expedites professional productivity and resolve customer concern simultaneously. The Azure IOT equipment data integrated with the CRM mobile solution available on Windows, iOS, and Android mobile platform will be indispensable for the overall customer complaint resolution for your business.

Harvesting data retrieved from IOT industrial and consumer devices to serve companies with connected devices. data analytics in azure will be able to predict when a device is going to fail. Notify service three weeks in advance.

Cynoteck has been working across various industry verticals to help them best utilize IOT by providing unique solutions that integrate with their CRM and field service applications giving customers a feel of the next generation of customer services.

To know more reach us at sales@cynoteck.com or visit our website at www.cynoteck.com