With Data Being At The Heart Of Many Businesses Today The IoT Is Creating An Infinite Amount Of Opportunities
The IoT can swiftly and efficiently process data, leading to the creation of different types of opportunities.
The security of IoT device is massively enhanced by blockchain as it makes them significantly more difficult to hack and effectively eliminates concerns about IoT networks being compromised by a single point of failure.
IoT with Blockchain and RFID offers an effective way of identifying goods. The ones not properly identified could potentially be counterfeit. Environmentalists and those in the food industry are pleased with this as it offers a way to differentiate between genuine and illegal products. The IoT definitely helps in understanding the customer better, such as with the smart home assistants. The data collected gives the company insight into the consumer’s preferences.
This also gives way to new business lines, such as the creation of smart shelves. From smart fridges, we could possibly see a trend moving towards a smart kitchen that offers advice on the eating habits of the entire family and even discounts going on at the local shops. To improve customer experience, IoT can help a great deal. Both the online and offline retailers need to make the purchase process easier and more efficient than ever to attract more customers. If online retailers choose to improve their website design, customer experience would increase by a large margin.
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