CHANGING THE WAY BUSINESS IS DONE
The economic crash of 2008 and the turbulence it brought with it saw businesses fundamentally change the way they functioned. With Internet of Things (IoT) features on board, however, businesses can now use technology to help them focus more on getting the work done.
With this technology on board, companies can now use RFID tracking, and with it IoT, to improve their competitive edge, and maintain robust outcomes. Including RFID technologies in their working processes, businesses can improve in the following ways:
1) Getting advertising right : With more data coming in (and data that’s also accurate), businesses are now better prepared to make more informed and better targeted advertising and marketing campaigns. Businesses gain deeper insights into how consumers are interacting, with devices now better able to monitor how consumers behave.
As businesses also see what consumers are doing and how long they may be spending on particular pages, they can make smarter recommendations for products. More data simply means that businesses can target specific demographics more appropriately, giving consumers the quality they are increasingly expecting. And as the cycle of consumer research and eventual purchase goes along, businesses win even more data for their implementation. It’s another way of helping businesses make more informed decisions.
2) Better asset tracking means better management : RFID tracking has been established for sevral years as one of the most effective ways to track a business’ assets. When it’s set up as part of IoT, businesses gain better visibility over their warehousing, assets, manufacturing or storage facilities.
Put simply, this means that they can see what asset or product is where, who is handling the item(s), and when it is likely to reach its destination if it is has been moved. Inventory taking and asset tracking currently take place manually, with a handheld, RFID tag reading device able to scan multiple assets at the same time.
This also boosts a company’s ability to boost sales, because they no longer have to deal with “out of stock” incidences, and in turn, can increase their sales. With this in mind, retailers can also focus as much on online sales as much as sales from their retail outlets, as there is cross-platform visibility.
3) Digital Networking : If a business tends towards remote work, it can create a network of connected devices. This gives employees who may not be working within the same site to remain connected to each other – and making it easier for them to collaborate.
An offsite employee’s ability to tap into onsite devices can create opportunities for them to take on new skills or opportunities, as they are no longer constrained by their offsite location. A 2016 survey conducted by employee engagement firm, TINYpulse, suggests that remote workers are also happier than their onsite colleagues.
4) Better productivity : With technology constantly evolving and designed to make our lives easier, it is hardly surprising that IoT has also helped increase speed, productivity and efficiency.
With centralized data banks a big feature of RFID tracking and IoT, businesses can make more informed decisions quicker – literally as soon as the information comes in. Data analysis and other management decisions have become much easier to handle, with accurate data on hand.
In turn, employees can take on larger projects, complete them quicker and with greater accuracy. RFID also ensures that there is less room for human error, as the data collection system is automated
5) Tracking consumer needs : Just as data that comes in through IoT systems illustrate just how customers are behaving, IoT means that they are also exposed to new devices that give them new needs. Consumer demands change over time, with expectations changing and expanding.
As a result, greater efficiency is expected, with greater focus on smart devices that make life run more smoothly. This is where sales through devices such as computers or smartphone apps come into play, increasing the number of platforms through which products are available.
By catering to consumer needs and encouraging interaction through several platforms, rather than just traditional outlet sales, businesses are ensuring they maintain a healthy profit line.
6) Changing employment needs : Businesses will find that, as they take on more IoT devices and networks, their employment needs will also change. This may be reducing staff numbers or simply reassigning them to new departments. It may, however, also mean that you need to employ new team members that can deal with IoT technology and analyze the data. These new employees are particularly important if you’re looking for the best integrating of smart devices.
7) Improved security : Because IoT provides more security features, such as door locks that can be locked or unlocked at the swipe of a screen, businesses can enjoy better security features. If the business is small or just starting up, smart door locks have the added benefit of being a cost-cutting measure.
8) Easier work resolution : As RFID tracking helps data become a lot more visible, it is easier for companies to see where there are potential shortfalls in the way they work. This could mean that delays in project completion are resolved more quickly by reassigning work.
Job reassignment is particularly useful if an employee is overloaded, or heavy traffic means a delivery will be delayed or a different repairman can be sent instead. IoT features can also ensure better work outcomes by understanding how the supply chain is affected by outside elements such as weather, work progress, employee functionality and other items. With this data on board, companies can find the right solutions for each problem, and increase positive outcomes.
With so many clear advantages to investing in RFID technology, businesses can reap the many benefits of integrating these solutions into their work processes. As prices for RFID technologies are also significantly lower than they were when they were first produced, businesses no longer have an insurmountable financial investment to make.