Internet of Things is not only for large businesses with offices in multiple locations. Businesses like yours can also leverage IoT to digitise work sites, manufacturing facilities, and office spaces.
IoT technology has other benefits besides helping businesses generate data and perform analytics on it. IoT devices come in a variety of shapes and sizes and support various functions. Some devices help regulate temperatures within the home and office settings, while others inform when maintenance of equipment is due.
McKinsey maintains that the Internet of Things could deliver up to $11.1 Tn in economic value by 2025.
If your aim with IoT is to save a little cash in your home and business, here’s a consolidated list of smart devices for you.
Heating and cooling your home can consume an estimated 50 percent of your monthly energy bill. A smart thermostat system can help you save 5 percent on your power bill. In the long haul, that can add up to a significant saving in cost.
Smart thermostats help you create heating schedules around your time so that when you are off at work, the temperature drops and then rises just in time to make you feel comfortable when you reach home.
With thermostat devices, you can even control the temperatures of individual rooms.
On the surface, it might be hard to imagine how you can slash costs by investing in a smart security system. But, bring this into perspective- a traditional security system would need sophisticated wiring around the home or office space and professional help to set these up.
Smart security solutions can be purchased right off-the-shelf and their installation can be as simple as placing the devices in areas you want to monitor. Smart security devices can be seamlessly controlled via mobile devices.
Some of these solutions offer siren alerts and night vision for you to see what’s going on in your home/office even when you are miles away. Compare the cost of these devices with the traditional security arrangement costs, and you will find that smart security devices are a steal at their cost.
Since the ROI is worth it for all business owners and homeowners, security solutions also prove to be cost-effective.
Intuitive appliances such as microwave ovens, refrigerators, and air conditioners can help you cut down power costs. For instance, smart refrigerators can be regulated for their temperatures when they store food. This way, food is kept at an optimised temperature rather than the maximum.
Consider smart coffee makers that can enable you to choose the temperature of your beverage and the strength of caffeine in it. When used in conjunction with other energy saving devices for homes and businesses, smart appliances can help you save a lot over the course of a year.
Set schedules at the office or home to light up spaces when you enter and turn off when you leave. Businesses spend a lot on energy costs and optimising lighting usage can be their way of saving money.
If a few conference rooms or desks go unused at your office every day, it makes sense for the smart lighting solution to flip those lights off and only light them up when need be. Most estimates show that 12 percent of an electric bill can be saved using smart lighting solutions, which can translate to a saving of 180 pounds a year.
Not to forget the fact that the value of your home or office increases when you install a smart lighting system.
Specifically for businesses that need to maintain an inventory, IoT can help cut down costs. So often, companies have more-than-needed stock of products that sell slow. This can be changed with the help of sensors and smart devices that can track your inventory, predict demand, and help you maintain and optimise inventory level at all times.
Slash inventory wastage and minimise the possibility of filling up your inventory with products that won’t sell until long.
Smart IoT devices can help you save both money and time. By streamlining processes and bringing benefits in the form of improved efficiency and productivity, smart devices can help you regulate resource usage and encourage judicious use.
A word of caution, though. Smart devices installed without proper security arrangements can create a backdoor for miscreants of all kinds. Therefore, you need professional help in setting up IoT-powered devices across your home and office.