As the Internet of Things (IoT) continues with its explosive growth and development, companies are looking at ways with which they can take advantage of the technology to generate more business value. According to research firm Gartner, by 2020 more than half of major business processes and systems will incorporate IoT elements.
In a recent market research undertaken by 451 Research, the major IoT initiatives for enterprise include data center management, monitoring and automation. While these concepts are not exactly new, it will help business manage their voluminous data that will continue to increase in the next few years. According to Christian Renaud, the volume of data will be more than what humans can handle and it will require automated processes.
In the recent Gartner research, another top IoT initiative was mentioned which is operation optimization through features that include management of workflow, supply chain and warehouse. If the business makes use of connected sensors, it can effectively manage its operations with the additional benefits of reduced costs and optimized processes. When workflow is well managed, it can result into an overall increase in efficiency.
When a certain device is connected to a network, it usually becomes a valuable tool for data collection that is easier to manage. Some of the respondents to the 451 Research mentioned that they are using IoT in their security systems like video analytics with the cameras or even facial recognition in addition to the traditional systems of sensors and electronic monitoring systems.
While fitness trackers are the current inspiration for workplace health programs, similar data can also be used to inform healthcare providers and insurance providers. Real time patient monitoring and connected medical devices are examples of IoT devices in the market that will help in the growth of healthcare industry.
Software that features workflow management will help a business define and control all the activities involved in the business process. However, not just any workflow management system will do because every business is unique and has different processes. Some workflows can be simple while others are extremely complicated but with the flexibility of the software, a custom workflow can be easily designed.