09 May 2024
7 min read

How can IoT Asset Tracking Devices improve business productivity?

How can IoT Asset Tracking Devices improve business efficiency & productivity?

The complexity created by today’s transformative technologies and the ever-changing business landscape requires a strategic mix of innovation and regulation. One transformative technology that has significantly impacted many industries is the Internet of Things (IoT). Among the numerous uses in the IoT ecosystem, the use of people & assets tracking devices has emerged as a game changer for businesses looking to increase business efficiency and productivity.

The term “asset tracking device” refers to an advanced technology that allows businesses to track and control their valuable assets in real-time. These physical assets can range from the equipment and machinery that form the basis of a company’s operational infrastructure to a variety of inventory and vehicles, depending on a company’s industry. Asset tracking devices can be used for different purposes in many places, from hospitals to art galleries, hotels, airports, shopping malls, and retail stores. These devices, along with the technology of IoT, have necessitated a broad IoT asset tracking system that offers a holistic approach to improving workspaces and managing the workforce with time.


What is IoT Asset Tracking and Why is it Important?

In the dynamic realm of business operations, the integration of IoT tracking devices has given rise to a revolutionary concept: IoT asset tracking. This innovative technology involves the use of interconnected devices to monitor, manage, and optimize the location and status of valuable assets in real-time.

IoT asset tracking refers to the deployment of smart devices, such as tracking devices in the form of tracking tags or dashcams, to collect and transmit data about the location, condition, and usage patterns of assets. These assets can include a wide range of items, from inventory and equipment to vehicles and tools.

The true power of IoT tracking devices is in their ability to deliver a level of asset visibility and control never before possible, transforming how businesses manage their resources. By using the power of IoT, businesses can know where their assets, how they are being used, and when they need maintenance. Besides, they can track the movement of valuable assets in real time, ensuring accurate inventory management, minimizing loss or theft, and optimizing operational efficiency. This enhanced level of tracking not only saves time and resources but also empowers businesses to make informed decisions based on real-time data.


How IoT Asset Tracking Devices Work- Components and Technologies

IoT tracking devices use seamless devices and software to track the location, status, and historical movements of physical assets. In general, the working principles are as follows:


1) Tagging:

Some type of tracking tag is attached to each physical item to be tracked. These tags can be implemented using a variety of wireless technologies such as WiFi, RFID, Bluetooth, and cellular networks. Which technology and system will be used may vary depending on the type of assets being tracked, the needs of the business, and its budget.

WiFi and Bluetooth are good choices for indoor IoT tracking due to their high accuracy and low cost. Additionally, new IoT solutions use Low Power Wide Area Network (LPWAN) cellular technologies such as LTE-M. LPWAN technologies offer an excellent balance between range, battery life, penetration, and cost, making tagging ideal for many tracking & analytics platforms.


2) Data Collection:

Tags collect data about the asset’s location and condition based on industry needs. For example, this data may include:

  • Location information
  • Sensor data such as temperature, vibration, humidity
  • Label information such as battery level
  • Maintenance status
  • Other relevant parameters

3) Data Transmission: IoT technology allows them to transfer real-time data to central systems by providing seamless connectivity. Real-time data collected from the tags is transmitted to a gateway. The gateway transfers data to the cloud or a local server.


4) Data Analysis and Visualization: The IoT platform used analyzes the collected data and visualizes it in a way that users can easily understand. This can include showing the locations of assets in real time on maps, reporting their status, and tracking their historical movements.


5) Data-driven Decision, and Action: Businesses can monitor real-time data flow and receive instant alerts about the status of assets. This data can be used to make direct decisions such as locating assets, determining maintenance needs, and preventing loss or theft.


How Benefits of IoT Asset Tracking Systems Across Industries

The satisfaction of IoT asset tracking systems is reflected in various industries and ushers in a new era of efficiency and optimization. Leveraging IoT technology, these systems provide real-time visibility into the location, status, and usage patterns of assets, facilitating informed decision-making. For instance, in the retail industry, IoT technology can track the process from production to delivery, ensuring that products are delivered on time and in good condition. This helps retailers increase supply chain efficiency, reduce costs, and therefore increase customer satisfaction.

IoT tracking devices are also used in the healthcare industry to track the location and status of medical equipment and supplies in real time. The use of this technology can help healthcare providers prevent loss and theft, improve patient care, and increase operating efficiency.

As a current usage area, Theme Parks can also optimize their operations, improve guest experience, and increase security by using IoT asset tracking in a variety of areas. Here are a few examples of using Asset Tracking Devices in theme parks:

  • Disney World helps guests navigate the park, reserve rides, and pay using wearable devices called MagicBands.
  • Six Flags uses RFID technology to track the location and status of its in-park assets.
  • Cedar Fair uses BLE (Bluetooth Low Energy) tags to prevent guests from getting lost in the park.

As a result, the combination of IoT technology with asset tracking devices offers an overall solution that will transcend industry boundaries increase productivity, and improve operational quality.


Business Productivity with IoT Asset Tracking Devices- Best Practices and Tips

IoT asset tracking systems used to increase business efficiency, reduce costs and optimize overall operations should be chosen correctly, taking into account factors such as connectivity, cost, battery life and compatibility with existing systems. IoT solutions are critical for uncovering real-time data insights. This analytical data helps you make faster and more logical decisions for your business. By adopting these best practices, businesses can get the most out of their IoT tracking devices and increase productivity and competitiveness across many industries.


Choosing the Right IoT Asset Tracking Device

By choosing the right IoT technology solutions, businesses can maximize tracking capabilities, optimize processes, and achieve improved efficiency and functional excellence with data-driven solutions. At this point, it is critical to consider specific business needs and goals. It is important to prioritize devices that are compatible with existing IoT analytics platforms and make it easier to gain valuable insights from real-time data. Additionally, it is necessary to carefully consider factors such as availability, connectivity options, and scalability to ensure a future-proof solution. By choosing the right IoT technology solutions, businesses can maximize tracking capabilities, optimize processes, and achieve improved efficiency and functional excellence with data-driven solutions.


Streamlining Airport Operations: WiFi Analytics in Action

In the field of airport operations, IoT solutions are emerging as a transformative force, especially when combined with WiFi analytics. WiFi analytics-powered IoT tracking and analytics platforms play an important role in streamlining various processes at airports. Using the connection of IoT devices, airports can track the movement and location of assets such as airport buggies, ground assistance equipment, and maintenance vehicles in real time. This not only optimizes usage time but also contributes to a more effective and responsive management approach. An IoT analytics platform using WiFi analytics improves passenger experience at airports with seamless coordination, optimized resource allocations, and timely sharing of accurate information. Fundamentally, the combination of IoT solutions and WiFi analytics reshapes airport operations and creates a more connected, flexible, and data-driven environment.

  • Track assets and staff locations in real time.
  • Save time and resources by finding what you need quickly.
  • Optimize asset utilization and minimize damage.
  • Gain valuable insights into asset usage and staff behavior.


Getting Started with IoT Asset Tracking Devices- What to Expect

Businesses should pay attention to some important points when starting to implement IoT asset tracking devices. First, devices equipped with sensors and communication capabilities need to be deployed for real-time detection and control. In this way, traditional benefits management processes can be transformed, providing enhanced visibility into asset location, status, and usage patterns. IoT tracking can help businesses increase operational efficiencies, reduce costs, and reduce losses through proactive asset tracking. An advanced IoT tracking platform further strengthens this goal with centralized control and data analytics capabilities. This transformative technology can offer your business a more streamlined and data-driven approach, resulting in increased productivity and competitive advantage in the modern business environment.

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