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Together with IoT, BI enables companies to explore and mine consumer-generated data in order to better understand and predict customer needs.
Fremont, CA:The Internet of Things (IoT) is witnessing the emergence of intelligent, networked devices capable of producing massive quantities of data on aspects of our personal and professional lives. However, it is not the smart devices themselves that add value, but rather the ability to acquire, view, evaluate, and act on the data they collect.
Business Intelligence (BI) technology enables businesses – and individuals – to unlock the insights captured and shared between artifacts connected to the Internet. These valued experiences can then be used to introduce improved offerings to market and increase their company's profitability and productivity.
Customer Satisfaction Improved
Together with IoT, BI enables companies to explore and mine consumer-generated data in order to better understand and predict customer needs. Businesses may deliver highly customized ads and encourage goods that fit consumer tastes and lifestyles when they have detailed data on individual customer preferences. This improves customer service and loyalty.
Efficient Business Operations
The potential for enhancing business operations by granular review of such operations is limitless and cross-sectoral. Manufacturing can use IoT to optimize production and supply chains by using connected devices inside the production and supply chain processes to track efficiencies. Farmers, too, may use connected sensors to track crops and cattle in order to increase operational efficiencies.
For instance, a group of wine producers in Germany is currently testing IoT technology to drive wine production management and improve product quality.