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July 25, 2021
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5 ways data science and IoT services can help grow your business

From your doorbell to your thermostat, to your watch and your car—everything is just a little smarter these days. Without lifting a finger, you can know if a package has arrived safely on your doorstep or if your heartbeat is reaching a dangerous level. Your car can automatically avoid a collision, and your home can be at the perfect temperature when you get back from vacation.

All of these modern day conveniences are thanks to the internet of things (IoT) and data science services. And if you want to be smarter too, it’s time to learn how to use them to grow your business.

Here are five reasons why you should jump on the IoT and data science train.

IoT can help you operate more efficiently

IoT basically describes any physical device that can be connected to the internet. Smartphones, Smart Homes, and Smart Sensors are all examples of IoT technology.

Many small businesses rely on IoT to automate certain processes, which saves time and creates more efficient operations, according to Forbes. For example, when inventory is low, IoT can automatically order new products. IoT can also help your marketing and sales teams track and manage customers and campaigns faster.

IoT can save you money

When you’re saving time, you’re probably saving money, too. IoT can help cut down a lot of the costs associated with running a business. Suppose you had a water leak somewhere in the building. Through IoT, you could be alerted to that leak before it causes significant damage.

You could also monitor energy consumption and find ways to cut down those costs.

By delegating certain tasks to IoT, your employees can spend their time working on more important things.

IoT creates a safer work environment

Saving time and money isn’t the only goal. IoT can also create a safer workplace for employees by alerting you to intruders or other potential hazards. Many companies use IoT to combat future incidents and accidents.

For example, Interestingengineering.com reports the Ford Motor Company recently introduced exoskeleton vests. They’re designed to help employees lift heavy objects overhead to help fight worker fatigue and prevent injury.

Data science helps you make better business decisions

Smart devices aren’t the only things you need to grow your business.

Have you ever wondered how streaming services know which songs to play? Or how a map on your smartphone can give you the fastest route home? The answer is data science.

Data science is the extraction of actionable insights from raw data. By analyzing behaviors, patterns, and information, you can make better business decisions. For example, an airline might use data science to predict flight delays. Banks and credit unions use data science to detect fraudulent transactions. Healthcare services use it to predict and cure disease.

No matter your industry, data science can make things better for you and your customers.

Data science helps you with the heavy lifting in business

It’s easy to feel overwhelmed or intimidated by technological terms or concepts. So, here’s a simple analogy to help you understand the importance of data science for your business.

Imagine you’re trying to get somewhere but a giant rock is blocking the road. Even if you’re the strongest person in the world, you know you can’t physically lift this rock yourself. You need a lever—a long stick that will make lifting this giant rock easier when you prop something under it. And, if you remember your high school science lessons, you know that the longer the lever is, the easier it is to move the rock.

When you’re in charge of making business decisions, there can be many large rocks standing in your way. (Sales, competition, retention, productivity, and pricing are just a few examples of potential rocks you might deal with.) If you can’t lift or walk around the rock, then a lever—in this case, data science—is your answer.

To make sure data science (your lever) works, you need three things:

  • A clear understanding of your business.
  • The right team to handle the technology to collect the data you need.
  • The talent to perform proper data analysis.

Data science is about collecting and properly analyzing data. The insight you gain from it will move the rock—provided you have the right lever. Working with a team of talented people who have a large skill spectrum is one way to make sure you have the right lever.

Get a free quote from data science and IoT experts

By now, you know how valuable data science and IoT services are for your business. The next step is to reach out to someone who can help you realize your goals.

Utah Tech Labs has unmatched expertise in digital transformations. They’ve helped many of the world’s largest businesses with automated insights and optimized IT solutions, and they can help grow your business, too. Whether you want to run your business more efficiently or boost your revenue, Utah Tech Labs can get you there.

For a free quote, visit utahtechlabs.com.

Utah Tech Labs

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