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What is IoT and how can it help you boost your business?

Although you may have never heard the acronym IoT, we are sure you know what it is, as it is something increasingly present in our daily lives. The mentors of La Lonja de la Innovación, aware of its value, try to show our entrepreneurs its advantages so that they can make use of it. Now, it is your turn to implement it, so in this post we explain what IoT is, a technology that has changed the way we live, and how you can take advantage of it in your company.

What is IoT?

Internet of Things is the process by which everyday physical devices are connected to the network, allowing them to collect information, exchange data, take orders, etc. For example, you have probably seen an everyday product called “smart”, such as smart locks or smart fridges. This is because they have the Internet of Things applied to them, which allows them to perform different actions that they would not be able to do otherwise.

This system allows physical devices to transfer data and perform actions with little human intervention. One of its main characteristics is its versatility, that is, the multitude of uses we give to it. In this way, the Internet of Things is not only used in our daily lives, with the examples we have already seen, but a wide variety of sectors are using it, such as agriculture, logistics and healthcare.

The use of IoT in a company

But, how can this help your company? As you may have noticed, this revolutionary technology is transforming our daily lives, but it also can transform your business thanks to the multiple benefits it brings with it. Here we show you some of the advantages you can get by implementing it in your company: 

  • Process optimization. IoT collects and analyzes large amounts of data, saving your employees this task and optimizing processes. In addition, errors are reduced and it allows us to make more informed decisions. 
  • Cost reduction. Thanks to the Internet of Things ability to automate and monitor tasks, as well as predict mistakes and correct errors, processes in your company are more efficient, resulting in cost reduction. Not only this, but it is also a great ally to save on energy consumption, as you can use smart devices which automatically adjust lighting and air conditioning.
  • Improve productivity. As we have already said, with the use of this technology processes and tasks are accelerated, resulting in far fewer errors. This generates greater productivity in your company, since this saves you time which you can spend on other functions. Moreover, IoT facilitates communication between work teams, leading to improved productivity, as data is shared instantly.
  • Greater personalization. The IoT’s ability to collect  data allows you to obtain valuable information about your customers, enabling you to improve their necessities and preferences. In this way, you can personalize your offers in a more efficient way and improve your users’ experience.

These are only some of the many benefits that this technology, becoming increasingly popular, brings to your company. Do you want to use it in your startup? At La Lonja de la Innovación we can help you with whatever you need!

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