Devices comprising the Internet of Things (IoT) have grown around 70 percent in recent years, totaling over 6.4 billion. As impressive as that may be, even more impressive are future projections, putting IoT devices at 25 billion worldwide by 2020.
As the IoT has increasingly permeated almost every facet of business, the connected enterprise has become an important part of that transition.
What is a Connected Enterprise?
In its most basic definition, the connected enterprise “uses the IoT to integrate physical and IT processes.” This means that all aspects of a businesses’ operations are digitalized, and the combination of people and technology is used to create more powerful and efficient business processes.
For a connected enterprise to work, it must be built around three things:
- Devices: The IoT devices that provide the information
- Infrastructure: The network, infrastructure, and storage necessary to gather the data
- Analytics: The processes that take the raw data and use it to provide valuable insights into the company’s operations
The Advantages of the Connected Enterprise
One of the greatest advantages the connected enterprise brings to the table is the ability to make better-informed decisions. All too often, companies are forced to make decisions without a complete picture of all the issues involved. A connected enterprise, in contrast, leverages all of the data at its disposal to make decisions that take all available criteria into consideration.
Another significant advantage is increased productivity. In today’s economy, it’s not enough to simply automate operations. Even the most automated operation may still have glaring weak points in its productivity. A connected enterprise, in contrast, is able to use the data at its disposal—data gathered from its smart devices—to see areas where productivity can be improved.
Customer service is yet another area where connected enterprise offers major advantages. With a basis on communication and automation, connected enterprises are often able to interact with their customers faster, more effectively and in more ways that matter to the customer.
From easier customer on-boarding to automated support options and self-service support, connected enterprises have the infrastructure, data, and automation in place to meet customers’ needs.
The insightsoftware Advantage
At insightsoftware, we have the expertise needed to help your company transition to a connected enterprise with a world-class platform to help business leaders make smarter, better informed decisions.
You’ll be able to connect to your ERP platform and gain insights never before possible. This includes real-time reports, data-driven intelligence, and insights into what’s driving your business—all with the goal of helping you make decisions more effectively than ever.
It’s little wonder that the worldwide connected enterprise market is expected to reach some $1.94 trillion by 2025. Read our Guide to Driving a High Performance Organization for additional strategies that will help your company move forward as a connected enterprise.