Businesses believe IoT can drive customer engagement

Every fifth business is planning on adopting the Internet of things (IoT) to help address customer demand, and improve engagement. This is according to a new report by analytics firm SAS.

These companies are mostly focused on improving front-end processes and efficiency. Only after tackling these issues will they focus on internal processes.

Just under one fifth (17 percent) say the main benefit of IoT was improved customer services, as well as an enhanced digital offering. For a third (30 percent), applying design thinking (designing through user experience) is very important. More than a third (36 percent) think IoT will improve end-user experience, and just under a third (29 per cent) believe it will help them build better hardware and services.

"With each consumer expected to own up to four devices by 2018, there is a huge opportunity for companies to use the IoT to get even smarter in attracting their attention", explains Peter Pugh-Jones, head of Streaming Analytics at SAS UK and Ireland.

"Investments in IoT are very much a commercial decision and pay-offs in terms of customer operational efficiency are vital. Throughout 2017, a strong customer focus will continue to drive developments in IoT as organizations recognize the need to provide tailored, just-in-time services to stay relevant to consumers".

The biggest issue in implementing IoT was real-time analytics, as well as security (20 percent). The issue of skills shortage is usually addressed by partnering up with technology vendors, while willingness to learn new skills is perceived as crucial for success.

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