Deliverable 2 - Smart Technologies Proposal Deliverable 2 - Smart Technologies ProposalBuisness2021
Most businesses operate in a very competitive environment. Businesses must make the best product for a competitive price. Businesses must find ways to save money without sacrificing quality. Customer service must be excellent. The business must not sacrifice reputation for cost savings.
Technology can help businesses achieve a quality product at a competitive price. Devices that directly connect to the Internet or local network can provide essential communication to personnel or other machines. These devices called the Internet of Things (IoT) can provide a competitive advantage for businesses by:
· Increasing communications from device to device or device to human
· Allowing remote control and automation
· Gathering data that can be analyzed for better decision making
· Providing remote monitoring and reporting
Manufacturing and distribution have been revolutionized by IoT, creating a competitive advantage. Machinery using IoT can communicate with other machines. This communication enables synchronization of processes on an assembly line or in a distribution system. Machinery working together in synch increases productivity and efficiency. These increases in productivity and efficiency save money and time for the business. Reductions in personnel manually running the machines is a huge cost saving. Businesses that can provide a quality product for less money have a competitive advantage.
Devices connected to the Internet through IoT allows other devices or humans to control functions from anywhere creating a competitive advantage. For example, warehouse freezers with smart thermostats directly connected to the Internet are remotely accessible; computers or personnel can then adjust these thermostats accordingly. Keeping freezers running efficiently at optimal temperatures assures a quality product and saves money by reducing energy consumption. Providing a quality product creates a competitive advantage for the business.
Devices directly connected to the Internet can provide valuable data to computer systems for later analysis. The sensors on many of these devices can report speed, temperature, GPS location, liquid levels, or vibration of parts, just to name a few.
These readings provide data that can be studied using data analysis. Data analysis can provide predictive abilities that can warn of equipment failures. Data gathered can be used to research inventory levels, product and people movements. Smart phones can detect that a user travels to a specific location each week at the same time. The phone would pop up a message telling the user the distance and time to the location even if the GPS on the phone was not in use. The phone, an IoT, is gathering data about the user’s travels each week. The phone is using that data to predict where the user is going. Business can use this data to study consumers and their movements. This information can increase the competitive advantage of any company because understanding your customer is a powerful tool.
Businesses need IoT devices for remote monitoring and reporting. Business use equipment that moves around the country every day. IoT devices in the form of sensors can track this equipment and report locations. Customer service and delivery companies must be able to track employees or vehicles. The data supplied by IoT allows businesses to study processes for inefficiencies. Businesses can study travel routes, speed, stops, and many other pieces of data in real-time. Businesses can adjust routes, drivers, trucks, or schedules to meet the needs of the customer. To increase an organization’s competitive advantage, an organization must be efficient and effective with their resources.
IoT increases the competitive advantage of business:
· by increasing communication
· with remote control and automation
· by providing data for later analysis
· by providing remote monitoring and reporting
Manufacturing and Distribution
Tessa convinced the leadership team at HealthyShakes to invest in Internet of Things to manufacture and distribute their protein shakes. Because the machines used in different stages of production, quality testing, packaging, and distribution now communicate with one another, the entire process is more efficient and accurate. The time and money saved provides HealthyShakes a competitive advantage over the competition.
Connect from Anywhere
When a power outage occurred, Internet of Things notified Franco on his Smart Phone. The alert allowed Franco to use IoT to switch his restaurant's freezers to generator power and to check on the temperatures throughout the night. Other businesses in the area lost thousands of dollars of frozen and refrigerated foods and other heat sensitive products.
Kendra's Cakes uses IoT to track driver routes and speeds during deliveries. The information about delivery conditions and times is analyzed and used to train drivers so that expensive cakes are not damaged, and customers are not disappointed. Her specialty cake business has an excellent reputation because her ability to deliver large specialty cakes successfully and on time consistently.
Smart Phones and Predicting Consumer Behavior
IoT allows a SmartPhone to use a travel advice app to track where travelers using the app go during their visit to cities featured on the app. Businesses promoted on the app can then make choices about advertising, special promotions, and seasonal offerings based on consumers behavior over time.