What is IoT Analytics?
By some estimates, the IoT market will be worth $18 billion by 2022. As connected IoT devices continue to increase in number and adoption, businesses are inundated with large amounts of complex data that isn’t well structured. IoT analytics offers the requisite tools and skillsets to companies to use this data to adapt and improve operations.
Examples of IoT analytics
Nearly every industry is deploying IoT-enabled technology to consumer and enterprise goods and processes. Here are some of the most prominent examples of this application that result in a wealth of data when leveraged correctly:
IoT technology allows you to run your home even when you’re away from it. With online home security systems and appliances, you can be aware of any trespassing, turn on the lights, adjust your home’s temperature, and preheat the oven.
Consider the Apple Watch, which so many iOS owners use. Such watches or fitness trackers do more than just display time or act as health bands. You can stay connected with others and share your activities through features like call, voice text, and messaging with wearables.
Isn’t it nice to ask Siri, Google, or Alexa to do things for you on your phone? You can order a car service, get updated on the weather, and play your music all through your digital personal assistant while you are online. Additionally, you don’t have to buy a new device for software upgrades because it all happens online while improving functionality.
Professionals can check on their patients’ well-being through remote health monitors that track and record heart rate and blood pressure. Users can also keep track of their medical history through online apps.
Whether it is logistics, manufacturing, transportation, energy, supply chain, or auto industries, smart devices have changed their operations through automation and optimization.
Online IoT devices have enabled the creation of smart factories by converging operation and information technologies, increasing efficiency and productivity.
IoT analytics and the customer journey
Here are a few ways how IoT is changing customer journeys:
1. Better product knowledge
- IoT enables businesses to track how their product performs with the customers, which is highly beneficial for expensive goods.
- For instance, if an expensive electronic device has failed thrice for a valuable customer and is about to do the same for the fourth time, you need to know how to stop it from happening.
- With a product’s real-time performance measure, you can either contact the customer to deal with the issue promptly or order an upgrade free of cost.
- Such technologies help your brand rectify any product design flaws and retain customers.
2. Customer-centric data
- IoT systems are a vast data source that provides information about product usage and reception by customers, so brands can better build customer journey workflows.
- For example, with the data that IoT provides regarding a customer’s preference for interaction channels and time, companies can enhance their journey with this information.
3. Improved customer well-being
- Brands are better able to communicate with their customers and cater to them.
- As discussed above, IoT systems can help in the health monitoring of individuals through remote online wearables, like a fitness device.
- Security devices monitor the house and alert users of changes in temperature, moisture, or weight.
- IoT systems alert customers when they need to replace or refill products like car tire pressure in product fulfillment.
IoT analytics continue to enhance how companies understand, improve, and optimize their customer experience and journeys. Regardless of industry, the IoT has become a notable player in connecting brands to their customers and overall satisfaction.
Scuba Analytics is a real-time customer journey analytics platform that integrates all IoT data and metrics to centralize company data into one platform. Interested in trying Scuba? Check out our demo today.