# IOT - Benefits, Challenges, and Strategies

IOT - Benefits, Challenges, and Strategies

An effective strategy can help reduce the impact of cyber security risks and ensure the privacy of data. Additionally, Internet of things data management strategies allows business leaders to reduce costs and implement these solutions efficiently. This data management helps organizations ensure that the challenges faced by Internet of things (IoT) infrastructure do not outweigh its benefits. Here, Letstrack gives you this benefit to live free of worries.

BENEFITS OF IOT

  •   Studies suggest that 80% of customers are more likely to purchase products when businesses provide personalized experiences. With careful analysis, businesses can gain valuable insights into customer behavior. Customer data can be collected over time and paired with machine learning platforms to predict customer needs. For instance, in case a customer orders desserts during a specific time slot using a food delivery app, the app can send various dessert recommendations in that time slot.

CHALLENGES FOR IOT

  • :  The generation of large data volumes can attract cybercriminals, who wish to gain illegal access to crucial data. Several big players such as Google, Facebook, Marriott, and British Airways have been victims of sophisticated cyber attacks. Sensitive data of hundreds of millions of users was compromised in these cyber attacks. Hackers can also target operational data, which could disable critical processes in an organization.

Various network vulnerabilities and newly-created malware strains can exploit loopholes in an organization’s security protocol to illegally access data. Hackers can also launch automated cyber attacks to hack into an organization’s network.

STRATEGIES TO IMPLEMENT IOT

  • Identify use cases:  Before adopting these GPS tracker, business leaders must identify potential IoT use cases for various business procedures. For instance, a retailer may use Internet of Things data to understand customer behavior, while a manufacturing firm may use it for predictive maintenance. With this approach, business leaders can make informed decisions while choosing these solutions and understand their data storage and management requirements. Feel free to call us at 7827822000 for free demo.

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