Internet of Things Update
How can companies improve their products and services through the Internet of Things (IoT)? Stylus uncovered fresh insights from the Re.Work IoT Meetup in London last week.
- Better Service: Brands should harness the IoT to gain insights into how customers are using their products, explained Tamara Giltsoff – head of business development at Product Health, the UK-based IoT company. The data internet-connected sensors collect will enable brands to pre-empt when products need to be repaired and replaced – before the customer is aware of the problem.
Brands will also be able to improve their products and services by tracking how they are used, rather than relying on guesswork and sample surveys. For example, Product Health's connected sensors help clients monitor batteries to ensure they are used correctly (to extend product life) and remotely diagnose problems in hard-to-reach areas. This helps emerging market consumers who rely on off-grid battery power.
- Sustainable Savings: Tracking products over their lifecycle also makes it easier to reduce waste, Giltsoff argued: "Products can now send data about themselves, which changes everything – from how they're produced, used and eventually disposed in the future."
- Gathering data from internet-connected products exposes inefficiencies, explained Craig Hollingworth of Concirrus, a British company that operates a cloud-based platform to organise the IoT. Concirrus helped a mining contractor make considerable savings by embedding connected sensors into its vehicles' tyres to ensure they maintained the right tyre pressure (to extend tread life).