Investigating the Impact of IoT on Business Performance

Abstract

The objective of the study was to determine the opinion of the employees and employers in the manufacturing sector who were using IoT for business operations. Further to identify the impact of IoT on business performance. Herein for the descriptive research design was adopted. The data was collected from 67 respondents from 38 different business units who were using IoT. The data were collected using a structured questionnaire. From the analysis carried out t was understood that the respondents agree that IoT is required for the current business environment. Further, it was found that IoT significantly contributes to decision making, easy data storage and retrieval, helps in identifying and rectifying the mistakes quickly, Improves operational efficiency and better system monitoring easily. Also, it can be interpreted that IoT significantly impacts the Decision Making, System monitoring, Competitiveness of the business unit and operational efficiency. Thus it can be overall concluded that in the Current era IoT is essential for better business performance.