THE REAL VALUE OF IoT and M2M

DATArrive-internet-of-thingsAs with most advances in technology, initial buzz can hover around the novelty of of the technology itself, with a vague understanding of how it might impact our lives. There can be an excitement over what could be, but an unrealized connection to the daily impact.

For some time, this has been the progression of the Internet of Things (IoT) or Machine to Machine (M2M) technology. The introduction of automated process and greater access to information has long been the building blocks of industrial advancement, and now, the latest progression of technology is finding a valuable position in many industries.

Recently, Field Technologies Magazine provided an industry report dedicated to the IoT and the specific benefits within field services. The follow list is taken from the recent report “The Vast Benefits M2M and IoT Can Provide” which help to clarify just what exactly the IoT and M2M devices can do for us:

  1. Improve Efficiency and Productivity – rather than sending a driver out to vending machine locations to fill them on a set schedule, you only send someone when inventory gets low. Instead of having a utility worker spending full days reading meters, you can receive that data remotely. M2M allows companies to evolve from reactive work to proactive work.
  2. Provide Better Customer Service – As an organization shifts from being reactive to proactive in the service of their customers, an obvious boon to customer service is felt. Rather than customers alerting service providers of issues, service providers are enabled to identify issues, notify customers, estimate arrivals and have a better grasp on completion times.
  3. Grow Revenue – a reduction in waste is a quick way to maximize profits. The migration towards M2M automation provides new ways for companies to extend the value of their current workforce while providing added value to their service offering and potentially grow their customer base
  4. Business Insight to Make Process and Product Improvements – the data gathered from M2M-enabled process can provide valuable insight into what is working or failing when it comes to products and processes. The ability to analyze real operational process with hard data becomes a valuable resource for companies

Read the entire industry report here.

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