IoT Security
Article | July 5, 2023
IoT has undeniably become the massive growth propellant for modern-day business. Enterprises employ intelligent systems to improve production in factories, and reduce costs, build industrial automation systems to replace human assignments, monitor and reduce energy; and develop autonomous transportation to enhance driver safety.
Inside these embedded systems are sensors that rapidly transmit data that must be immediately captured, processed, and acted upon.
Traditional embedded database solutions don't understand and meet the complex needs of IoT devices when it comes to processing and managing data. IoT edge database solutions that can understand the constant data stream from sensors enable devices to make crucial decisions in milliseconds.
Real-time Edge Data Processing
Enterprisers and business owners prefer scalable edge data management solutions to deploy hundreds of IoT devices so that each device can manage, collect, and analyze the massive amounts of data these IoT sensors produce without losing performance.
These devices must capture and store critical information so that the IoT node can make independent decisions and trigger appropriate reactions.
Database queries allow device apps to get the information they need to make intelligent decisions in real-time, quickly and without wasting time. To be successful in the IoT, you need the right data management software and the ability to quickly collect and connect device data rapidly to get low latency.
IoT Data Processing and Management
Standard data management solutions do not fully address the complexity of architecting software for IoT data processing. Despite being the primary data source, sensors are often constrained by their limitations and fail to provide sophisticated analysis.
The focus of IoT data analysis and management is to harvest real-time information and make sense of it quickly.
A good solution uses technologies that many developers are already familiar with, like SQL, to solve the new problem of analyzing IoT sensors directly on edge devices.
Conclusion
While building a device application, at every stage, developers must make tough calls to select the best data management and database software to launch their edge-centric IoT systems. Such costly decisions consume significant development and validation time as well.
Using existing IoT data management platforms is a better way to deal with scaling, security, and the weight of data. Businesses can set up, connect, and grow their IoT infrastructure with these platforms. Organizations don't have to build their own IoT infrastructure from scratch. Instead, they can use IoT platforms that give them access to IoT devices, cloud infrastructure, and networks worldwide. Small and medium-sized businesses may find this method saves money.
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IoT Security
Article | October 11, 2023
If you’re struggling with creating a value proposition in volatile markets, you’re not alone. According to Neil Patel, 40% of marketers struggle to acquire leads by traditional marketing methods. As competition grows in each industry, even fairly monopolistic markets like tech are seeing rising competition in all areas.
To combat market uncertainty, as well as stand out amongst your competitors, you need a market strategy that not only offers a direction but actively targets your goals. A market strategy is your go-to plan when things get rough and it is a map for when the waters are calm. Moreover, marketers with a documented strategy are 313% more likely to report success.
We’re sure you already have a market strategy that is just right for you. But have you considered if it can be refined further? Thanks to emerging technologies like IoT, we now have access to the most mundane customer decisions that are taken on a day-to-day basis. This data is your ticket to a better market strategy without having to spend a bomb.
This is how you can refine your market strategy with the help of IoT.
Data-driven Decisions
The Internet of Things has offered us insurmountable amounts of consumer data. A caffeine brand can now access information such as what time consumers have coffee, whether it is at home or office, what flavors they prefer, how much they’re willing to spend on coffee, and what other alternatives they consume. This kind of data, collected on an IoT device such as a coffee machine, is instrumental in making marketing decisions. If you know that your consumer prefers to have coffee at work in peace rather than in a rush at home, you can target offices in the area with your product rather than targeting individual consumers.
IoT offers you the right information to make the right decisions. But you can also leverage this data to drive your market strategy. In the above example, the marketing team can account for campaigns geared towards workplaces based on the available data in the budget. Data-driven strategies prove to be more effective than otherwise, and as marketers, you must absolutely leverage any IoT data that may be relevant.
Respect your Customers
While IoT offers marketers a truly astounding amount of data, not all users are aware of what data is being tracked. This raises concerns for privacy and security among the users. Even though most of the users waive their rights to withhold the information when signing into an app or wearables software, they are not always comfortable sharing certain data.
As marketers, it is important to keep your practices ethical and legal. Using consumer data may be completely legal, but it is best not to offend your customers by overt use of data that they aren’t comfortable sharing. Make sure that the usage of data in marketing campaigns and strategy is limited to what data has been consciously shared by your consumers. This will bolster your goodwill, as well as make your customers trust your brand.
Offer Valuable Solutions
With the advent of Big Data and AI technologies, the internet of things is turning over a new leaf. As there is a vast amount of data that can be processed fast with AI, marketers can now target individuals rather than households or groups. With precise data available over consumer decisions and actions, it is possible to know if there are any unlikely customers that you have been ignoring so far.
IoT allows you to not only target these customers but also solve their problems. If we continue the caffeine example, the connected coffee machine can tell you when the coffee is about to be over, this can send you reminders to buy coffee, or in case of further automation, place an order on Amazon on your behalf. These solutions can be now hyper-personalized to suit individual needs through IoT.
IoT Based Campaigns
Your market strategy will have to account for campaigns throughout the year, but if you’ve noticed closely, the only marketing campaigns that gain significant traction are the ones that have a ‘wow factor’. A lot of marketers mistake the wow factor to be a subjective preference that customers have but it couldn’t be further from the truth. The wow factor is simply the effect produced when a business goes above and beyond to meet customer needs. IoT offers us the resources required to manufacture the wow factor in every single campaign.
A great example of this phenomenon is beacon marketing. Beacon marketing is considerably new in the marketing industry and uses Bluetooth technology to transmit information to nearby mobile devices. It is heavily used in retail across the globe and giants like Target and Walmart are already using the technology to market its services. Walmart places beacons in its lights across its stores and sends offers to its customers based on their location. It not only personalizes the shopping experience, but also saves a large amount of electricity bill for its stores.
Target Existing Customers
Many times, in a bid to appease new customers, marketers often forget about their existing customers. Your existing customers already know you, have tried your product or service, and are clearly interested in the product. A good product or service is often enough to keep the customers returning, but with the current levels of competition, customers often find themselves wondering if they should try new things. As a marketer, all you need to do is deter your existing customers from straying. You can do this by either providing an unparalleled service, which is quite unlikely in today’s market, or you give them a reason to stay.
Thankfully, targeting existing customers is much easier than targeting new ones. You already have their data over their preferences and habits. If you know that a certain firm updates their applications every second quarter, you can send them offers just before the second quarter starts and remain fresh in their memories when they decide to make the decision.
Allergy medication Zyrtec leveraged IoT when targeting their existing customers with a voice-enable application. Its users could just ask the application about the daily allergens and pollutants in their area so they could prepare ahead. The app offered a powerful solution to its users while making great use of its brand image and retaining almost all of their existing customers.
Leverage New Technologies
We have already discussed several complementary technologies to IoT that can help you make the most out of your market strategy. AI and Big Data are some of the strongest allies for IoT that can help change the norms across industries. But even limited technologies like voice-enabled applications, QR scanners, beacons and so can open up a lot of opportunities for marketers.
Consider adopting some of these technologies such as geofencing which are inexpensive and effective at the same time. Burger King is a great example of using geofencing for marketing. Geofencing is a technology wherein you can transmit messages or information to mobile devices within a certain area. Burger King set up their geofences across all McDonalds in the UK and as soon as anyone entered within a 500 m radius of a McDonald’s outlet, they received Burger King coupons and directions to the nearest store.
Case Studies
There are a lot of examples of IoT being used to enhance strategies or campaigns. Some of these examples are given below.
Diageo, a whisky brand in Brazil innovatively used IoT to run a father’s day campaign. They encouraged men to buy whisky for their fathers and placed a QR code on their bottles. Once the bottle was received, the fathers could scan the code which would play a personalized father’s day message by their sons. This concept was so loved by people in Brazil that Diageo saw a 72% sales uplift in the two weeks leading up to Father’s Day.
South East Water, CRM leveraged IoT by building an end-to-end IoT ecosystem powered by IBM’s Maximo. This helped them roll out an app that offered near real-time insights into customer requirements for over 80 engineering teams. This alone helped them ensure higher customer satisfaction and accelerated access to critical reports by 99 percent!
Uber and Spotify rolled out an IoT campaign together wherein you could access your Spotify playlists through the Uber app and once you were in an Uber, you could play whatever you liked through the app and it would play on the car’s speakers. This increased customer satisfaction for both Uber and Spotify users.
There are several examples of using IoT in marketing campaigns, and there is never a dearth of ideas. However, in order to appeal to your unique customer base, you need to innovate your product with IoT.
Frequently Asked Questions
What is the IoT strategy?
IoT Strategy refers to an organization’s strategy to inculcate IoT in their business, whether as a marketing tool or as an integral part of the process.
How does IoT affect the marketing industry?
IoT offers a lot of insights and resources to marketers which helps them target their customers better and optimizes any marketing efforts, thereby effectively obliterating traditional marketing practices.
What is the best internet of things marketing strategy?
There is no one IoT marketing strategy that fits all businesses. Each business needs to identify its customer requirements and strategize accordingly.
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IoT Security
Article | June 27, 2023
As consumer demands evolve, fleet managers are turning to IoT to deliver products faster and more efficiently. The progress being made in edge computing represents the full potential of IoT: the power of data on the move. However, operating on the edge also reveals some of IoT’s greatest challenges: maintaining network security as the number of endpoints multiplies; rethinking traditional business models as industries become increasingly interdependent; and, perhaps most importantly, establishing a seamless, reliable network across borders, cultures, and regulatory environments.
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Enterprise Iot
Article | July 11, 2022
Artificial intelligence is becoming increasingly crucial in IoT applications and deployments. Over the past two years, investments and acquisitions in firms that combine AI and IoT have increased. IoT platform software from top suppliers now includes integrated AI features, including machine learning-based analytics.
When artificial intelligence is linked with the internet of things, we get Artificial Intelligence of Things (AIoT). The prime motive for combining AI and IoT is that, while IoT devices are used to gather data and send it to a cloud or other location where it can be stored using the internet, AI, which is regarded as the brain of AIoT, is what actually aids in decision-making and simulates how machines would act or react.
Other artificial intelligence (AI) tools, such as speech recognition and computer vision, can assist reveal patterns in data that previously needed human evaluation.
AI applications for IoT-enabled companies help them avoid several issues:
Preventing expensive unplanned downtime
Predictive maintenance can lessen the adverse economic effects of unplanned downtime by employing analytics to anticipate equipment failure and arrange orderly maintenance processes. In order to predict equipment failure, machine learning enables the discovery of patterns in the continuous streams of data produced by today's technology.
Operational efficiency advancement
IoT with AI capabilities can also increase operational effectiveness. By processing continuous data streams to find patterns invisible to the human eye and not visible on simple gauges, machine learning can predict operating conditions and identify parameters that need to be adjusted immediately to maintain ideal results, just as it can predict equipment failure.
Improved risk management
IoT and AI-powered applications enable businesses to automate for quick reaction, better analyze and predict a range of hazards, and control worker safety, financial loss, and cyber threats.
Finding an IoT system that does not incorporate AI could soon be uncommon. With the help of AI, organizations can truly enhance the potential IoT and effectively put it into use for improving the overall functioning.
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