The Internet of Things connects your business to better processes
Improved efficiency and speed of response just some of the many benefits of IoT
The Internet of Things (IoT) is a constantly expanding global network of intelligently connected physical objects that’s helping many businesses build better processes.
Getting plugged into this vast communication network requires objects to be equipped with sensors that gather and collect data at the source, software that turns that data into actionable intelligence and Internet connectivity to pull it all together. Literally anything and everything can become a part of the Internet of Things - from laptops and phones, to buildings and equipment, and even people.
Consider these statistics:
- Frost & Sullivan predicts in the next 10 years that IoT will drive more than $10 trillion in profits and/or cost savings, and,
- Investment in IoT for use in Canada will exceed $6.5 billion by next year.
Certainly these are impressive numbers—but what does any of it have to do with your business?
IoT automates time-consuming, onerous and error-prone manual processes to increase and improve data collection and distribution, create much efficiencies, plus increase the productivity of people and processes, safety, savings and profitability.
Data accuracy and safety
Accurate data is vital for all businesses and especially important in the food industry. Tracking the condition of food as it journeys from a farm, through transport and storage, and finally onto the table of people is essential to ensuring safety and quality. Contamination at any point can put people at serious risk and at the very least may harm a business in many ways, including lost revenue and loss of consumer trust.
Recognizing the essential need for top quality and food safety, Stratford, Ontario Boston Pizza owner Melissa Graham fitted her restaurant’s kitchen with IoT sensors to measure refrigerator and food temperatures. The technology provides more accurate readings and a consistent measure of food condition. And these data readings happen in real time, which allows quicker response to any issues that arise.
IoT sensors also improve efficiency and productivity by removing the human equation in this normally manual process, and allowing Boston Pizza employees who might normally be required to take these kitchen readings to instead focus more exclusively on serving customers.
Hayter’s Farm, a family owned and operated turkey farm in Dashwood, ON, uses integrated IoT temperature sensors throughout its operations. Automation through IoT has eliminated a once manual process of going from point to point to monitor conditions throughout the farm. IoT technology provides accurate up-to-date monitoring and the ability to respond much more rapidly to events and alerts.
Increased profits and savings
IoT automates manual processes in order to eliminate human error, allow users to more rapidly respond to conditions where thresholds may be exceeded or alerts are triggered, and ultimately to increase efficiency and, in the case of the food industry, achieve greater safety. There are also real financial gains to be made. IoT has the potential to significantly reduce the $31 billion in food wastage that occurs annually in Canada.
Business, in every industry, stand to benefit from IoT technology. Retail, for example, might use it to improve inventory management and customer satisfaction, while oil and gas companies can set up IoT-enabled remote monitoring of oil rigs and other resources for increased safety of workers and equipment.
More and more IoT applications are being developed every day—and organizations continue to find ways of using it for competitive advantage.
Where do you begin? Success with IoT starts with a trusted partner to help you develop a plan that addresses your organizational needs. That partner should be there to help implement your IoT initiatives and provide support once your IoT-enabled processes are up and running.
Above all, look for a partner with the expertise and experience to do it right. IoT holds the promise of improving your bottom line through better accuracy, efficiency and productivity achieved through smart technology and automation.