In a “smart” business model, connectivity matters more than physical presence, which is becoming obsolete as a prerequisite for collaborating, making decisions, and acting swiftly on opportunities. From accounting and finance to communication, and from data mining and analysis to enterprise resource planning, the cloud and app pipelines are delivering a continual stream of new tools for managing your business digitally, remotely, and productively. The Internet of Things (IoT) can help you get there. Here’s how:

• Offering transparency. IOT sensors, for example, can track your inventory. They’ll identify flaws or untapped opportunities in your production, fulfillment, and distribution systems. And for the first time, they make “solutions in search of a problem” a good thing: by detecting operational issues and tracking commonalities that precede breakdowns or defects, they enable you to resolve problems before they actually arise. Once you’ve made a sale, they can provide data about how your products are used. Armed with that data, you have a head start on refining future product generations to better match changing requirements and improve the customer experience.
• Giving you “actionable” information. All this information keeps everyone involved in your business connected and gives that connection greater purpose. Your company’s operations, processes, and pursuit of continuous business improvement are informed and empowered by real-time input from throughout the organization. The result is decision-making that’s not just faster, but also smarter, better targeted, and more closely aligned with your productivity and profitability targets.
• Improved operating efficiency. These efficiency-oriented IoT tools enable you to delegate a variety of tasks, from keeping your doors properly locked and monitored to maintaining your thermostats at optimal temperatures. And you may be surprised to learn that shipping trackers and RFID merchandise tags are now affordable and practical at small business scale.

Smart digital operations are far more than just a platform for visibility into operations. They provide a means for “developing and exploiting applications made possible by the Internet of Things to create value.”

Read the Leverage the Internet to Own Your Future Growth guide to learn how you can build a smart, digital business.