Introduction – In the present time, there is a rise in the techniques of Internet of Things, which is considered as the most important and crucial developments for the usage of both consumers as well as companies which are producing and selling an increasing their business through this. For the collection, processing and decision making, sensors are used for the development of the products. It helps the user by giving more perfect and personalized experiences.
Method – The method of Internet of Things is used by the startups for transforming the complex relationship between the customers and the related products in the market. These whole processes will going to continue for years. It also plays a great role for many business aspects whether Business to Business, Business to Customers, or Customers to Customers. But Business to Business i.e. B2B is the common and widely used aspect. The companies which use B2B undergo with the digital and human transformation which helps them to achieve high range of customer experience.
Process – This process helps in the growth of the business and will increase the operational efficiency with the experiences given to the customers and their other business partners. A research has been conducted which shows that almost 73% of business are distributing or promoting IoT. With the inclusion of long capital cycles and organizational inertia, there are various factors which destroy the IoT momentum.
Impact – It fails to create any impact on the ordinary people, business people, and various industry sector people. There are factors which stops the IoT momentum, which includes:
•Reduction in skilled or suitable staff
•Inactivity of organization
•Different cycles of long capital
•Reducing various industrial standards
•Concern related to cost and securities
Focus – This challenge has become enterprise-grade which mainly focuses on B2B communications. For the performance and maintenance and other high-cost tasks of construction and energy industries are using drones. But the pharmaceutical industries are using different IoT solutions which help in the tracking and tracing of medicines from production to patients. But B2B uses simple cases for the tracking of data and sending of status alerts. This process lacks in data analytics capabilities. It helps in the prevention of exploitation of IoT.
Conclusion – These cases are encouraged due to various factors which includes fall in technological prices, providing secured platforms and availability of better connectivity options. Also, it is found that there will be more development which is expected to have 100 times faster networks than the existing one. Therefore, security is the business is the biggest issue. Using of intelligent devices through Internet of Things helps on the removal of security with greater exponents.
