The cellular technology innovation has changed the world over the previous decade. Sophisticated network availability and cost-effective sensors have brought forth the next wave in the digitization era that is IoT. According to IHS Markit, by 2030, there will be 125 billion internet-connected things worldwide, such as smartphones, PCs, wearables, cars, home appliances and many more.
Yet, is it simply one more tech bubble or is it that IoT truly gives the unmistakable outcomes that talk genuine value, be it in terms of increased revenue, better experience or improved efficiency! Well, all things considered, the apparent advantages that can’t be depicted in numbers are way bigger and unmistakable ones. In any case, in the end, the organizations will be benefiting from improved brand perception, upgraded quality, and overall service delivery. Be it any industry, the customer is a king, thus businesses worldwide are relying on the data generated by IoT devices to deliver a personalised experience to customers.
Based on the data insights companies are engineering new products, marketing service offerings and features that suit the demand. For B2C segments like hospitality & retail where customer experience is the key to success, the reliance is on delivering the personalized experience based on past preferences and user behavior.
Let’s have a look at what’s happening in certain industry segments
Smart mirrors & projections, smart shelves are assisting the shoppers like never before. Globally, the adoption of the unmanned store further driving the cost reduction with one of its kind experience to customers. A year ago, Walmart opened Intelligent Retail Lab (IRL), stand-out AI-empowered store, where a blend of examination and cameras will screen things that have been expelled from racks, alarming staff about explicit items that should be re-supplied.
Envision the degree of customer delight where hyper-personalized in-room experience and solving customer queries in real-time are adopted as standard practice. Providing insights into the surroundings, things to do around and useful information base on the customer profile and preferences, can add value to guest, making them loyal and frequent visitors. For Example, Hilton has experimented with the ‘connected room’ concept, where users are able to control many of the room’s features from their mobile phone, or from a provided tablet.
Segments like education are more focused on personalized coaching, virtual learning, connected classrooms. Solutions like interactive smartboards, provides a broader perspective to the students in gaining knowledge on new things with a better understanding and interaction with their companions and educators. Further, Education institutes are discovering ways to make the campus safe implementing the sensors & smart devices, providing an enriched experience to students and guardians.
Manufacturing & Supply Chain:
Using IoT, B2B segments can redefine the customer experience by providing accurate, real-time data about delivery & products related information. Shipment tracking, end-user behavior tracking, and usage tracking can provide a seamless experience to manage the ordering cycle. By keeping watch on the product performance, the companies can deliver the utmost qualitative products in future upgrades and upkeep. For example, Rolls-Royce uses the IoT in their engines for commercial aircraft. They collect the data from their engines and use them to improvise maintenance operations.
Organizations additionally needs to consider that as customer experience turns out to be ever significant, the need for simplifying the ways customers can interface with vendor support, without overwhelming overhead expenses. We see the IoT and machine learning bringing complete automation in this regard, using robotics and virtual assistants.
Overall the IoT is staying for the long haul and helping organisations to improve client connections by facilitating experience. Be it providing product or service customization, detecting the need for maintenance, developing better products, or personalized communication, IoT is truly driving the next wave in customer experience and that’s just the beginning.