Add IoT data to your ERP and see what happens!
The Internet of Things has become a major trend in 2015 and is expected to grow even further to a taggering realm of 50 billion things connected to the Internet by 2020, promising a new revolution of the Internet. You already have an ERP system in place – how can your business exploit the vast amount of data provided by this phenomenon?
Whereas today the data gathered by IoT is utilized more in areas such as manufacturing, smart city services, logistics and consumer applications, according to a study published by Cisco, in five years, ALL industries will have an IoT initiative to develop processes. ERP systems provide an ideal platform for extracting value from the unstructured flow of data that can be obtained from IoT, so why not use it in your business? It is only a question of determining value for your business in advance and setting up your ERP systems accordingly.
Insight into customer behavior
No more surveys and questionnaires, no more Web 2 subjective opinions on social media, it is time the truth be revealed as Web 3 incorporating the Internet of Things does no less for sellers than show what users actually do with their products, how customers really use their services.
Based on the newly gained information from IoT, ERP will do miracles: a whole new spectrum of personalized services can be developed, a new level of customer care can be introduced and an array of inventions can be incorporated into services and products - all based on real needs!
For example, smart transportation options are already available with help of IoT data: real time information on fuel level and tire pressure can maximize fuel efficiency and tire lifespan, and by data-monitoring the overall condition of the vehicle, maintenance costs can be substantially reduced.
The manufacturer’s relationship now does not end with selling the product/service to the customer. There is a connected market emerging with ongoing feedback from the product and the end user, giving a great opportunity for continuous development and personalization of services.
Insight into internal processes
Another advantage of the IoT and ERP marriage is that it allows business owners to see the company’s internal processes clearly as well as gives a ground for better operational decisions. Are the employees effective enough, are the internal processes efficient enough? By analyzing internal process data and optimizing operational routes, production or service costs can be lowered substantially.
The possibilities are endless. Let’s think together how you can use this new trend, data from the IoT to further the capabilities of your company’s ERP!