What an age we live in! The promising consolidation of developing technologies and accelerating innovations are changing the world as we know it. It is revisioning the entire makeover of the world, perpetually! One such technology is IoT (Internet of Things).  In fact, if the statisticians are to be believed, IoT will be taking over the entire world within the next few years. IoT has the potential of impactful approaches and strategies. It is an authoritative source for bigger changes in our daily lifestyle and even that which is imaginary.

Supported by a colossal framework of sensors, IoT derives meaningful data. This data is processed and used as effective business strategies which succeeds against the competition. It speeds up the formulation of streamlining productive, responsive, and affordable system architecture.  Currently, one of the most up-and-coming IoT driven solutions is location tracking services. They successfully contribute to the escalated visibility and automation of a business. To know more, read on.

If estimates are to believed, almost $ 1.3 Trillion will be spent on IoT in a few years. As per Gartner’s prediction, more than 20 Billion connected devices will actively contribute in everyday operations.  They promise the possibility of greater visibility, fresh set of accurate analytics, increased capacity of automation etc. Businesses that are adopting IoT, are utilizing location-based services to assist with navigating the new ecosystem.  It helps businesses to:

1. Enhance visibility and control,
2. Optimize efficiencies,
3. Facilitate automation and assist with organizing and deciphering the constant flow of data being generated by IoT devices.

Boost Visibility & Control

For successful adoption and deployment, the location of the IoT devices or sensor data, is crucial. Locating, monitoring, managing and securing fleets of connected devices with greater assurance in real time, is easily done. Often completed at scale with cloud-based location solutions. They enable businesses to locate nearly any connected device with web service location APIs (Application programming interface). This results in seamless integration into existing systems, applications and processes. Real time location of IoT devices too, is easily accessible and possible through IoT driven location-based services. These services enable businesses to access an array of location sources through a single cloud based solution.

Optimize Efficiencies & Facilitate Automation

LBS (Location-based services) enable businesses to automate a growing number of core processes. The potential utility of location information from IoT devices fuels a variety of use cases. Some of which are inventory management and record keeping, monitoring and protecting assets. It also helps in maintenance and servicing equipment along with their security and compliance. The knowledge associated with the ‘where’ and ‘when’ of different activities becomes possible for businesses via LBS. Through this, fetching meaningful insight into the context of a specific event becomes effortless. It is also used to activate automated reporting, analytics and predictive modeling of event activity. Many utilize it to optimize response tasks or other resource management actions.

Organize and Decipher IoT Data

Sensors on location trackers derive situation context. They add valuable data points. The information that one derives from LBS, are more comprehensive of the existing operations using IoT and its future capabilities. IoT based location-based data helps in interpretation, organization and translation a big cache of information into actionable insights. This is essential to core business processes such as data management, compliance, operational assessment and reporting. It also supports IoT in becoming more accessible to new industries.

Along with all these, IoT helps in watering opportunities through its strategies. Glen Allmendinge, is the founder and President of Harbor Research, a strategy consulting and technology research firm based in Boulder, Colorado and Zurich. He believes that the biggest challenge that an industry faces, is finding enough state-of-the-art technology and industry players to develop all the applications required for any expanding opportunity. Due to this challenge, the growth chart remains mellow. But, IoT has brought the game changing concept of Location Based Services that has paved a way for exclusive GPS tracking devices that help in:

1. Location based Job Dispatch,
2. Location based and automate safety checklists and procedures,
3. Location based time sheeting and task tracking,
4. Real-time/last known location in the event of major incident and
5. Automate location checks at set-intervals.

Achieving end-to-end visibility for all IoT based devices, improving operations, embracing new technologies and receiving data-rich location insights for better decision making could be adopted by business through the promising parameters of LBS.

For the Automation Industry

Few factors are crucial for hassle free industrial function. The road from precise machine functioning to goal completion of quality standards, everything requires minute analysis. IoT carries out such tasks effectively. Its sensor signals process well after capturing the data more effectively. Future machine faults could be easily predicted without any special manual support. Assets, be it tangible, intangible could be run without any agitation. IoT powered solutions like ERP enables remote tracing of machineries and devices which contributes in cost cutting and dodging production loss. Eventually, higher revenues will be achieved by the businesses.

In conclusion

Two arms of technology, location-based services and automation come together and compliment each other thanks to IoT. Both offer services which are unlike the other, yet, in the world of business, they are the two pillars based on which development and success are guaranteed!