KocharTech is one of the largest enablers of the connected device ecosystem, offering comprehensive solutions to address the Connected Consumer Challenges. The company-built solutions enable global customers to embrace mobility with ease, improve business results and effectively maximize ROI. The managed service platforms and solutions help Operators, Enterprises, and Consumers simplify technology in the new age of digital lifestyle.
The project allotted involves a comprehensive study of the Indian market in the sector of IOT with an aim to conduct market research for the launch of a new product in the field of IOT. The market research mainly involves drawing conclusions and forecasting effects of actions based on secondary data gathered from various published reports on notable websites and sources.
The Internet of Things technology enables devices to connect with each other and to us humans. Applications of IoT are several value additions to enriching businesses. Machine Learning and Artificial Intelligence are two empowering technologies enhancing the “smartness” of devices. We are expected to leverage these devices to improve business efficiency by streamlining our processes and operations.
Data stands tall at focal of any IoT strategy. Thus, it becomes imperative to manage data through a centralized system breaking the silos that once existed. When data is housed under a single roof, there is only one version of truth for everyone in a corporation. This data can then be churned to spew insights that form the foundation of decision making. As IoT service providers increasingly zero-in on our potential to leverage things that are smart and connected, we are on the path towards a significant shift in the way we perceive our data and carry out business processes.
Transforming Customer Experiences– Businesses in various industries are relying on IoT to improve their customer experience In the field services space, for example, companies have upped their ante by integrating their products with smart chips. These products now warn their users and manufacturers when they detect an internal anomaly. This way, companies are able to offer preventive services before an appliance breaks down. This is the proactive customer service that users expect from businesses today. To drive revenue in the right direction, businesses are identifying various aspects where IoT application could prove transformational.
Streamlining Retail Operations– The use of IoT in the retail sector is helping brick-and-mortar stores to compete with their online counterparts. IoT helps them keep track of their inventory and manage it better, while also streamlining their delivery operations. The technology aids loss prevention and offers insights into the buying behaviour of customers. Using this data and IoT analytics retail businesses are able to improve their revenues by providing their customers personalized recommendations based on their previous purchases.
Mr. Pratik Salia who was my mentor, who has been really helpful throughout my internship. He was Sr. manager in the business development team.