OVER the past few years, Scottish businesses have benefited from IoT (Internet of Things) for many things. IoT connects devices and systems to the Internet to create opportunities for new products and services that were not possible before. Once considered a niche technology for startups, the IoT is now the go-to technology for many businesses in Scotland.
What is IoT?
In a nutshell, IoT is the connection of different devices to the Internet and other devices. It’s a giant network of connected things that collect data about the environment surrounding them. It can include items we use every day, such as wearable fitness devices, self-driving cars, etc. These objects have built-in sensors linked to the Internet of Things platform, which then integrates data from various devices and applies analytics to share valuable information.
IoT Reduces Business Costs
One way Scottish businesses have benefited from IoT is by reducing business costs. IoT can help streamline business processes across various industries, from manufacturing to supply chain and production. Streamlined processes can minimise downtime and decrease business costs. The manufacturing industry is a perfect example of how IoT technology can reduce business costs. The IoT allows them to apply predictive maintenance technology reducing downtime by up to 50% and saving up to 10% on overall maintenance costs.
IoT Has Boosted Productivity
IoT can develop optimised workflows through automation. It minimises repetitive tasks, resulting in improved productivity. Because of this, the demand for IoT professionals has increased. Companies looking to improve productivity should consider using IoT recruitment specialists to hire qualified professionals knowledgeable of the Internet of Things.
IoT Has Created Safer Environments
Another way IoT has changed the Scottish business landscape is by creating safer environments. Organisations can rely on IoT devices in developing highly efficient safety devices, such as fire safety sensors, which help detect fire as early as possible. With the help of IoT software, the sensors can detect increasing temperature, which is necessary for determining a possible fire in the workplace.
In addition, IoT technology can help to ensure long-term safety in the workplace by collecting data and analysing them to develop occupational health and safety strategies. One example is the integration of IoT tools into HR and workforce solutions to create a schedule for workers that minimises exposure to workplace hazards.
IoT Helps Reduce Costs
Scottish businesses in every sector are getting massive benefits from IoT technologies in terms of cost reduction. For instance, IoT is used for predictive maintenance, which saves money by reducing unplanned downtime, which is often very costly. With the help of IoT, businesses can replace parts according to historical data or whenever they start to show signs of malfunction, just before they reach critical failure.
Relying on historical data, IoT-enabled devices can also notify businesses if some parts are almost at their end of life and require replacement. The device can also send a notification if the quality of output is declining or if the machine is consuming more resources, which is another way companies can save money.