The internet of things and its application in commerce

​The IoT (internet of things) is one of the leading and growing technologies in the digital transformation. Not only because of all the benefits it brings, but also because of the multiple applications it has in different industries. 

IoT is defined as the ability of devices to connect and communicate with each other over the Internet. During the information exchange process, a large volume of data is collected, commonly known as big data, which, after the application of different artificial intelligence technologies by the devices, results in valuable information called big value. The importance of this type of information is that you can apply it in your day-to-day business. From the tracking of packages to the evolution and warning of stock breakage.

The IoT, one of the technological solutions with an unlimited number of applications for your business.

This technology is becoming increasingly important. According to ABI Research, the IoT market will experience exponential growth by 2026. This will be mainly driven by digitalisation efforts in "public services, industry, infrastructure and smart cities". It will also be boosted by the ongoing trend to automate machines and processes, which has also been accelerated by the Covid-19 crisis.

A new business model called M2M or machine to machine, has emerged thanks to the birth and consolidation of the IoT. This technology solution enables the digital devices in your shop to become smart, allowing you to control all your assets at the touch of a button. The IoT management of your business can be done from a common control panel and you will be able to monitor the journey of your products, know the effectiveness of your value chain or identify those points that are weakening your sales. In short, the M2M model will not only ensure higher revenues, but will also help strengthen your business.

You can apply IoT in both physical and online shops. 

IoT application in physical shops.  

• Stock management: Through IoT and sensors on different platforms in your warehouse, you will be notified when a product is out of stock. You can also link it to your supplier to automatically place an order when needed.
• Cost control: You can control the temperature in your shop by analysing the costs of different devices, saving energy and money.
• Geolocation: With IoT and sensors, you can make more personalised communication to your customers.

IoT application in e-commerce.

• Shipment control: You will be able to know where and in what condition each of your shipments are. It will allow you to monitor products, improve the efficiency of your supply chain and detect unnecessary costs.
• Customised online advertising: The IoT allows you to easily update advertising campaigns and adapt them to the needs of each of your customers. You will have more data, so you will be able to communicate more efficiently.
• Automated ordering: This application allows the object itself to order directly and automatically. For example, a fridge that notifies the absence of a food item or a lamp that needs a new bulb. You will improve your users' experience and increase your sales. 

Implement IoT or how to give your business a new lease of life.

A real example of how IoT can be introduced in shops is Amazon Go. Let’s learn more about it.

The value proposition of Amazon Go is: ‘No lines, no checkout’. This concept is the driving force behind Amazon's new line of business. The process is as follows: 

1. The customer needs to have an Amazon account and downloaded the Amazon Go app on their mobile phone to enter the shop.

2. While shopping, a combination of technologies, that Amazon calls “Just Walk Out” technology, automatically detects when customers pick up or return products to the shelves. In short, it tracks the purchase in a virtual shopping cart, due to the implementation of technologies such as those used in autonomous cars: computer vision, fusion of different sensors and deep learning. 

3. Once the customer has completed the purchase, all they have to do is leave the shop and they will receive the receipt and the charge in their Amazon account. 

Easy and simple. Everything your customer needs in just one click. 

Learn how to take advantage of IoT and improve your customer experience. Technology continues to evolve to give businesses like yours all the tools you need to successfully adapt to the new digital reality. One of these solutions is, without a doubt, the IoT. It will allow you to automate and control your business processes so you can focus on the essentials. 

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