What Next In 2017? Big IoT Potential For Small And Midsize Businesses

Shelly Dutton

The trillion-dollar economic impact of the Internet of Things (IoT) may seem to be reserved for large corporations with massive budgets, but even small and midsize businesses can reap the benefits. Firms that fully embrace this growing trend are reducing operating costs, increasing productivity, building closer customer relationships, expanding into new markets, and innovating new revenue streams.

It’s clear that the IoT will create many more opportunities for small and midsize businesses over the coming years. But the real question is how firms can use related technology to gain a competitive advantage over their much larger rivals. The eBook “Ecosystem in Action: SME Customer Success Stories,” recently released by SAP, compiled stories of companies that are already on their way to finding that answer. Here is one of those success stories.

Connecting people and processes with the IoT in the cloud

Delivering enormous volumes of data, the IoT sets a unique path for innovating everything from workplace efficiency to creating a safer and healthier world. While the intent is good, most companies still need help making sense of it all to find relevance and convert those insights into real outcomes.

For Kore, this gap between data and outcomes became an opportunity to revolutionize the way people work. One IoT-powered idea is letting humans “chat” with their systems the same way they interact with each other – through voice or text. Using an open platform-as-a-service that runs a unique in-memory database and business application services, Kore is humanizing the IoT by interpreting data to trigger action items for getting things done and keeping workers safe.

One prime example of the impact of Kore’s innovation is its application in the mining industry. Widely recognized as one of the most dangerous jobs in the world, miners expose themselves to risks such as chemical leaks, radon exposure, and gas explosions, among others. In the deep mines of Australia and Chile, Kore sensors embedded in the miners’ gear are monitoring air quality and oxygen levels. Combining data from sensors and internal workforce applications onto one platform empowers managers to make more-informed decisions on when conditions are optimal for digging operations and to better predict the health of the overall site.

The beauty of the IoT is the connectivity it brings, pulling together data from a variety of sources and devices all in one place. If you consider all of the mobile apps, Web applications, emails, and text messages used on a daily basis, it can be very overwhelming. However, innovations like Kore’s sensors remove the distraction of jumping from screen to screen to get the information needed to get work done.

Bring “big business” advantage to your small and midsize business. Learn from the stories of 90 firms that are innovating their own path to digital transformation.