Internet of things (IoT) will turn into a prime driver of digital transformation in the near future. The advancements in the connected devices technology have raised the performance of IoT, leading to significant rise in the use of connected devices across industries around the globe. According to experts, the entire world will have over 50 billion connected devices by 2020.
The analysts also suggested that around 35 percent of firms in the U.S. have already been utilizing IoT generated data to get real-time visibility into operations and other aspects of their business such as inventories and supply chain. Moving forward, as the IoT technology evolves to fill in the existing gaps and generates even richer data, organizations will be able to streamline their internal processes further.
One other significant advantage of IoT is its ability to help businesses better understand the taste and preference of their customers. This becomes vital in present times when tailored products and services that offer personalized experience to each customer dictate a company’s success.
Still in an adolescent stage, IoT revolution will continue unlocking new doors of opportunities and pave newer paths for digital transformation.