Digital technologies are transforming nearly every aspect of our lives. The increasing number of smart devices all around us are shifting more and more of our daily activities from physical to virtual platforms. These internet-connected devices are relying upon increasingly-com complex software applications, many of which rely on artificial intelligence (AI) and machine learning (ML) algorithms. As these advanced technologies continue to find new ways into our homes and businesses, MCA Connect will provide the guidance enterprises need to embrace the benefits of digital transformation.
The Internet of Things (IoT) is huge. It already consists of billions of internet-connected devices, and more and more of our daily activities are moving to digital platforms. The IoT is changing the way business is done, and no industry is immune from the shifts these devices are creating.
As a general matter, the development of the IoT is particularly relevant to product marketing and customer engagement. As the IoT expands, more and more clients and vendors are engaging with businesses via mobile platforms. Countless clients have come to MCA Connect seeking ways to unlock growth with improved mobile engagement, but the IoT is transforming some industries in ways that are far more impactful than best practices for digital marketing.
The IoT is setting up some industries for a complete transformation. For example, the increasing presence of smart devices in the typical home is shifting the home maintenance and services market from a reactive industry to a proactive one. Rather than reaching out to a service provider after a crack, leak, or other damage is discovered, smart home devices can notify homeowners of a potential issue before it becomes a costly repair. Thanks to the predictive skills of these devices, home maintenance is becoming a contractual engagement maintained on a preventative basis rather than as-needed.
The smart devices all around us are collecting and sharing digital data that provides valuable insights about who we are and what we do. The transformative impacts of the devices in the IoT are compounded when these devices are paired with AI and ML applications capable of deriving deep insights from data collected by digital devices.
The devices in the IoT are generating a lot of data. Data analytics help companies make good use of this data, such as by improving the efficiency of resource us or the efficacy of customer engagement. MCA Connect has seen some of the more forward-thinking enterprises build online customer experiences that feel fully personalized, all thanks to the power of data analytics.
Whether using off-the-shelf enterprise software solutions or custom-built applications, tech-forward enterprises are harnessing the value of the data created by the proliferating audio, visual, text, and biometric sensors found in IoT devices. In fact, around 94% of enterprises reported that data and analytics as an important aspect of their business growth and overall digital transformation in 2019. Over the next five years, IoT and AI/ML, together with cloud computing, will have the greatest impact on data analytics, as these technologies work together to collect, process, analyze, and apply insights derived from digital data.
To compete in today’s increasingly digital economy, enterprises harness the raw data collected by IoT devices and transform them into meaningful enterprise-level information by leveraging the analytical power of AI/ML applications. To meet this growing market demand, MCA Connect works with clients to identify the data collection and analysis solutions that work best for their unique circumstances.