ChannelLife Australia logo
Industry insider news for Australia's technology resellers
Story image

How ML and IoT will shake up Aussie business

By Contributor
Mon 24 Sep 2018
FYI, this story is more than a year old

Emerging technologies such as the internet of things (IoT) and machine learning (ML) are shifting the way Australian businesses operate. In fact, Gartner predicts that by 2020, IoT will be in 95% of electronics for new product designs.

Just look at how Amazon utilises IoT-enabled robots to automate the process of scanning and picking products. Through the use of the IoT enabled robots, the powerhouse online retailer cut operating expenses by 20%, saving an estimated $22 million every year in each warehouse.

These technologies have a major impact on the two most critical aspects of any business: revenue and customer experience. If businesses want to stay ahead of the curve, they’ll need to ensure they take advantage of these trends.

Enhancing the customer experience (CX)

Customers have always been the key focus of any organisation and the implementation of technologies such as IoT and ML have allowed for the ‘customer comes first’ mentality to flourish within Australian businesses, regardless of size or industry.

It almost goes without saying that customers are increasingly expecting instant and more personalised experiences with brands and it’s up to businesses to deliver or risk losing customers to competitors. By using ML and IoT businesses can have the potential to improve CX, market segmentation and generate mass personalisation.

For example, ML enables businesses to automatically recommend the appropriate products to customers on a micro level through analysing purchasing and other customer data.

Moreover, IoT devices like Amazon Echo and Google Home can be utilised to capture the customer data and use it to provide products to customers based on their preferences - it’s also a powerful market research tool. This allows companies to have more authentic interactions with their customers, creating a more personalised experience and improving overall CX as a result.

For example, for retailers by analysing customer traffic patterns in-store, they can identify the best placement for high-margin products. Data analysis and ML can be used to optimise shelf placement by, for example, co-locating products that are frequently bought together.

Driving revenue

While the customer is at the core of all businesses, it goes without saying that maintaining a profit is the key goal of any business. For this reason, companies are increasingly taking advantage of IoT and ML. In fact, a recent survey conducted by Vodafone showed that 51% of IoT adopters say that the technology is increasing revenues or opening new revenue streams. But how exactly does IoT drive revenue?

By analysing the interactions of customer’s connected things, organisations can focus on providing a more personalised experience and, in turn, expand their revenue streams. For example, channel partners can help their customers analyse the historical and real-time data generated by end-user transactions to cater products to user preferences – something which is vital to reaching both existing and potential customers.

To make the most of this data, ML can be used to help with data consistency and accuracy to improve overall data quality by detecting patterns and anomalies in the customer data.

In terms of more back-office activities, like managing and controlling distribution, implementing IoT solutions will ensure greater efficiency and smarter operations from the factory to the point of purchase. Additionally, businesses using ML can mitigate supply chain risk. For instance, by combining demand forecasting with supplier production plans, businesses can predict shortages or surpluses and adjust accordingly by establishing alternative supply sources or adjusting prices.

With all this data flooding in, businesses will need to think about their underlying infrastructure and how they plan to support it all. Businesses that employ the right data platform can enhance their insights by bringing critical customer data back to the cloud or on-premises for deeper ML and analytics.

By using the data collected by IoT devices and analysed using machine learning, businesses can transform the way they interact with their customers. Through this, businesses can make more effective decisions for future products or services.

IoT and ML are here and ready to disrupt Australia’s business landscape. The question is, what businesses will be quick to take advantage of its potential to escape being left in the dust of their competitors?

As competition increases in the channel industry, it is becoming evident that implementing these technologies are key to gaining a competitive advantage.

Businesses that do not adopt these technologies simply run the risk of being left behind and becoming irrelevant in the race to delivering the ultimate customer experience.

Article by MapR Technologies A/NZ solutions architect Ridhav Mahajan

Related stories
Top stories
Story image
Artificial Intelligence
Frost & Sullivan recognises Genesys as leader in new reports
Frost & Sullivan has recognised Genesys as a leader in the cloud contact centre market for its robust cloud and digital capabilities.
Story image
Manhattan Associates
Shortening the click-to-customer cycle through smart technologies
Speed of delivery without accuracy is a dealbreaker for consumers. How can retailers operating in an omnichannel environment overcome the challenge of click-to-customer cycle times.
Story image
Vectra AI
Vectra’s inaugural Partner of the Year Awards revealed
APAC companies Baidam, Firmus, ShellSoft and Macnica have been recognised in Vectra AI's inaugural Partner of the Year Awards.
Story image
Cybersecurity prompts upgrade for 1.3 billion electricity meters
ABI Research finds Advanced Metering Infrastructure (AMI) and cybersecurity concerns are prompting the upgrade of 1.3 billion electricity meters by 2027.
Story image
Apple previews new features for users with disabilities
Apple says new software features that offer users with disabilities new tools for navigation, health and communication, are set to come out later this year.
Story image
Data solutions
South Australia state satellite makes significant progress
South Australia’s first state satellite has successfully completed the Critical Design Review (CDR), moving it closer to providing tangible data solutions.
Story image
9/10 Aussies to stop spending if personal data compromised
"Based on the patterns we are seeing among Australian consumers, it is evident that trust in a brand is exceptionally important."
Story image
Lexmark launches A/NZ first with retail publishing solution
Lexmark, a global imaging and IoT solutions leader, launched its Publishing Platform for Retail (PPR) in Australia and New Zealand.
Story image
Amazon Web Services / AWS
RedShield leverages AWS to scale cybersecurity services
"Working with AWS gives RedShield the ability to mitigate significant application layer DDoS attacks, helping leaders adopt best practices and security architectures."
Story image
PNY launches XLR8 Gaming EPIX memory products in A/NZ
PNY has launched its XLR8 Gaming EPIC-X RGB™ DDR4 Silver 3200MHz and 3600MHz memory products in Australia and New Zealand.
Story image
Nozomi Networks
Nozomi Networks, Siemens reveal software integration
Nozomi Networks and Siemens have extended their partnership by embedding Nozomi Networks’ software into the Siemens Scalance LPE local processing engine.
Story image
Airwallex launches new bank feed integration with NetSuite
Airwallex has launched a new bank feed integration with NetSuite, developed in partnership with NetSuite solution partner, Onlineone.
Story image
Delinea enhances partner experience with new training initiatives
Delinea has announced a range of training and certification initiatives to help scale the capacity of VARs, System Integrators, MSPs and MSSPs to meet the demand for PAM solutions.
Story image
Tech job moves - Forcepoint, Malwarebytes, SolarWinds & VMware
We round up all job appointments from May 13-20, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Sift shares crucial advice for preventing serious ATO breaches
Are you or your business struggling with Account Takeover Fraud (ATO)? One of the latest ebooks from Sift can provide readers with the tools and expertise to help launch them into the new era of account security.
Story image
Data Protection
Barracuda launches new capabilities for API Protection
"Every business needs this type of critical protection against API vulnerabilities and automated bot attacks," Barracuda says.
Story image
A third of companies paying ransom don’t recover data - report
Veeam's report finds 76% of businesses who are victims of cyberattacks paid the ransom to recover data, but a third were still unable to get their information back.
Story image
Hands-on review: Technics EAH-A800 Noise Cancelling Wireless Headphones
Designed in Osaka, Japan, these headphones just exude quality. They aren’t heavy, but they feel well built and solid.
Story image
Telstra, Google and Accenture launch 5G AR experience for AFL
Telstra, Google and Accenture are developing a new 5G powered augmented reality (AR) experience at Melbourne's Marvel Stadium for the footy season.
Story image
Digital Transformation
How to modernise legacy apps without compromising security
At a time when digital transformation has become central to business, even the most important applications come with a ‘use-by’ date.
Story image
WolfVision announces new range of visualisers
WolfVision has announced a new range of visualisers to help meet multiple industry demands for remote learning and educational solutions.
Story image
Cybersecurity starts with education
In 2021, 80% of Australian organisations responding to the Sophos State of Ransomware study reported being hit by ransomware. 
Story image
ChildFund launches new campaign to protect children online
ChildFund says WEB Safe & Wise aims to protect children from sexual exploitation and abuse online while also empowering them to become digitally savvy. 
Story image
Application Security
What are the DDoS attack trend predictions for 2022?
Mitigation and recovery are vital to ensuring brand reputation remains solid in the face of a Distributed Denial of Service (DDoS) attack and that business growth and innovation can continue.
Story image
Remote Working
Australia’s remote workers face connectivity and security issues
SOTI's new report finds better video conferencing technology and improved security measures are top concerns for remote workers in Australia.
Story image
Telstra enters into new RSP agreement with Opticomm
Telstra has entered into an RSP agreement with Opticomm (A Uniti Group Limited subsidiary) to provide network fibre services to customers.
Story image
Lightspeed launches all-in-one marketing platform in A/NZ
ECommerce provider, Lightspeed has launched a new all-in-one marketing solution, Lightspeed Marketing & Loyalty in Australia and New Zealand.
Story image
Motorola Solutions acquires Videotec S.p.A for security portfolio
Motorola Solutions has acquired Italian ruggedised video security company Videotec S.p.A, along with its portfolio of highly versatile cameras.
Story image
Legrand unveils Nexpand, a data center cabinet platform
Legrand has unveiled a new data center cabinet platform, Nexpand, to offer the necessary scalability and future-proof architecture for digital transformation.
Story image
Digital Transformation
Pluralsight and Ingram Micro Cloud team up on cloud initiative
Pluralsight has teamed with Ingram Micro Cloud to build upon cloud competence and maturity internally, and externally support partners’ capabilities.
Story image
Hands-on review: WD_Black SN770 NVMe SSD Game Drive
Western Digital expands its WD_Black range of NVMe solid-state drives with the WD_Black SN770 Game Drive.
Story image
Silver Peak
The path to an adaptive, modern network
Managing and securing the network looks different than it did just two years ago—especially given that most of these networks are made up of multi-generations of infrastructure stitched together over time.
Story image
Artificial Intelligence
SAS announces new products amid cloud portfolio success
Analytics and AI company SAS is deepening its broad industry portfolio with offerings that support life sciences, energy, and martech.
Story image
Workato unveils enhancements to enterprise automation platform
"The extra layer of protection with EKM, zero-logging, and hourly key rotation gives customers a lot more visibility and control over more sensitive data."
Story image
BlackBerry offers Kaspersky replacement cybersecurity for the channel
BlackBerry advises that users of Kaspersky software in Australia and New Zealand undertake a rigorous risk analysis of their current security posture.
Story image
Noname Security partners with Netpoleon to target API issues
Specialist API security firm Noname Security has appointed Netpoleon as its distributor in Australia and New Zealand.
Story image
Cloud Security
Aqua Security createa unified scanner for cloud native security
“By integrating more cloud native scanning targets into Trivy, such as Kubernetes, we are simplifying cloud native security."
Story image
New Relic enters multi-year partnership with Microsoft Azure
New Relic has announced a strategic partnership with Microsoft to help enterprises accelerate cloud migration and multi-cloud initiatives. 
Story image
Tyson Beckford partners with Element Case on new AppleWatch band
Celebrity Tyson Beckford has collaborated with STM Brands' Element Case brand to create a rugged new accessory.
Story image
Cradlepoint expands its Cellular Intelligence capabilities
Cradlepoint has announced additional Cellular Intelligence capabilities with its NetCloud service.
Story image
Application Performance Monitoring / APM
Why SolarWinds Partners will have big wins in 2022
We summarise the key recent changes that the monitoring software vendor has made to accelerate its channel business.
Story image
Getac and Optalert expand partnership to promote industrial safety
Getac’s ZX70 Android tablets will be used to support Optalert’s Eagle Industrial early-warning drowsiness detection system for use in mining and transportation.
Story image
HINDSITE wins Aerospace Xelerated Pitch Challenge with solution to support Boeing
Brisbane-based startup HINDSITE was the winner of the first ever Pitch Challenge organised by Aerospace Xelerated in partnership with Queensland XR Hub. 
Story image
KnowBe4 celebrates reaching 50,000 customers worldwide
KnowBe4 has reached the milestone of 50,000 customers, adding nearly 2,500 in the first quarter of 2022 alone.