Internet of Things (IoT): Business possibilities are now endless. Literally.
Imagine running an interactive virtual grocery store in places like subway stations, bus stops, central parks, streets, with high foot traffic and frequented daily by tech-savvy commuters. You can now create a live business, that is intelligent, predictive, and opportunity-driven with the help of this technology.
Tesco, the third largest retailer in the world and PeaPod, the largest online grocery delivery store in the United States use a downloadable mobile application where customers can scan the QR codes from the posters in the virtual stores (as shown in the photo above) that are designed to resemble the actual aisles and shelves of a regular Tesco and PeaPod Stores, making the experience very user-friendly. The scanned products are stored in the customers’ online shopping basket, who pay online once their order is completed. It is reported that the majority of the orders are placed at 10 am and 4 pm, when people are commuting to and from work. Customers schedule a time for home delivery so that customers can get their products by the time they get back home from work.
SAP describes the Internet of Things as the vast network of devices connected to the Internet, including smartphones and tablets and almost anything with a sensor on it – cars, machines in production plants, jet engines, oil drills, wearable devices, and more. These “things” collect and exchange data.
Another great example is Amazon. This Seattle-based company is testing a grocery store called the Amazon Go that lets customers walk in, grab food from the shelves and walk out again, without ever having to stand in a checkout line. Customers tap their cell phones on a turnstile as they walk into the store, which logs them into the store’s network and connects to their Amazon account using a mobile application.
A recent study shows that in 2020, the number of connected things sending valuable data and insight to businesses and consumers will be more than any of us can predict. It is said that the value of data is not in the volume; it’s what your business do with it that matters most. Research also says, that turning this valuable information into insights is an important first step in your journey to digitally transforming your business.
This technology offers a digital core that makes insights contextual, real-time, and immediate. You can even take these insights and extend them beyond your core. These insights can let you make immediate changes in your business process, and most importantly optimize and drive business innovation in a truly live business environment. IoT also lets you adapt to change in the moment whether it is to avoid potential challenges, or sees pleading market opportunities across your entire extended eco-system.
The Internet of Things not only produces outcomes like lowering costs, optimizing productivity, and greater efficiency but you will also find a level of operational excellence and innovation. You will discover new revenue, new products, new services, and ensure a chance to reinvent your business.
AppCentric Solutions Inc., SAP’s Top Premier Value-added PH Partner has all the right tools and people to integrate this technology into your business. We cannot wait to share with you the many great possibilities that the Internet of Things can do for you and your business. Talk to us today. Call our hotline +63 2 759 1510 or email us at marketing@centricitgroup.com.
