IoT (Internet of Things) famously defined as the digitization of people, objects, and environment to empower innovation, foster visibility and improves the quality of decision making. In layman terms, IOT refers to connecting multiple devices to expand the reach ability and usability of such devices to interact with high volumes of data.
A typical example of IoT includes the insertion of sensors in the cars to track usage based insurance by the insurance providers. A predominant example of IoT is Amazon’s Alexa.
Alexa is the personal assistant developed by Amazon to perform a set of functionalities by recognizing your voice. Alexa can manage multiple services like playing your favorite music to booking your appointments for the day. Alexa also helps you to check your bank account balance, and transfer funds without a third level of authentication.
IoT enables organizations to develop a more holistic view of their customers and introduce new engagement models. The customer experience resulting from these models delivers value for customers and loyalty for brands.
Today, consumers have a wide range of choices. So, they will choose a brand that offers easy access to its services and a customised experience while they make the purchase or seek after-sales support.
The experience has to be consistent for them to become loyal to the brand. IoT-enabled products and services allow brands to continuously deliver the personalized experiences consumers seek now.
Until recent times, interactions between brands and customers were restricted to the point of sale.
Now, with the rise of IoT, brands are able to establish greater and continuous connection with customers, thereby gaining insights into their buying behavior, purchasing patterns and satisfaction drivers.
With these insights, they are in a position to offer improved and smarter products in new and innovative ways.
Security is strengthened with mono gestures
IOT enabled mobile apps strengthen security features by adding the element of connectivity to the device and environment. Through such devices interaction with the app is triggered by mono gestures which make it further easier to track the progress. For example, customers can control their home lock systems with a single gesture. Temperature control, CCTV access etc., are made easy by accessing through biometric or voice recognition systems. In case if the customer loses their mobile phone, there are IOT and GPS enabled apps that allow the customer to track the location of the device and even lock the devices to safety with a single gesture.
Through its ability to integrate multiple sources of data, IoT provides information to the employees that helps them personalize their interactions with their customers and also engage with them proactively. It also helps employees accomplish extensive tasks such as data analysis and management faster and with greater precision.
Through IoT devices, overall decision-making process in a business can be improved.