The rate of technological advancement is continuing to grow faster every year. While 2018 has already brought in new digital evolutions that are shaping businesses, 2019 and beyond promises to be even more dynamic. Here are the IoT trends that you should be on the lookout for if you are in business:
In retail especially, there is a lot of foot traffic. Instead of just letting this traffic go to waste, more brands are going to adopt beacons. These are stands that put out a Bluetooth signal that can update nearby customers on deals, flash promotions, or new additions to the shopping area.
Keeping inventory stocked and ready to meet consumer demand is a fine balancing act. Often times, it takes up too energy and focus from store managers. This leads to fatigue, mistakes, and other costly results. Instead of manually updating inventory, smart shelving can use RFID chips to automatically order items with low stock counts.
Long gone are the days where you have to go out and change the signs of your store manually. In today’s world, you can have automatic programs that do it for you. That way, you can even program the signs to change due to market supply and demand to maximize profits.
Every customer has a unique way of using a product. However, you don’t usually get to see your customers using their cooking ware, their laundry soap, or whatever product you sell. However, 2019 will see more products embedded with smart chips to track how they are being used for greater customer insights that allow you to create better versions of products and improve sales.
Big Data and BI
Business intelligence and big data are still in their early stages. However, the programs used to collect data on your business and do calculations to help you make smarter analytical decisions are getting more advanced. Expect to see better representations of your data models in the coming year.
If you want to get ahead of your market, then following what IoT does is going to help0 you do just that. By positioning yourself in front of the market, you can enjoy a head start on the new technology that is connecting consumers with brands everywhere and changing the way business is done forever.