As technology continues to advance, so does its capabilities for transforming the way we do business. GPS tracking, especially when paired with the Internet of Things (IoT), is ushering in a new era of data insights that business across all industries can leverage to improve products and services, as well as make more informed, data-driven decisions.

In short, the Internet of Things is a connected network of devices, such as GPS-enabled cars, wearables, and smart applications that can interact and exchange data. Which will also help with network inventory management side as well. When GPS and IoT are integrated, businesses can extract valuable insights on how and when things occur. Here’s how your company can benefit from this technology.

GPS & Employees

Not only can this technology be leveraged to pinpoint prospective customers using GPS capabilities, but it can be used to track everything from inventory levels to legal documents, to your own employees. Many organizations are using wearables to track activity levels and GPS tracking applications to manage field employees and maximize business efficiency.

From remote companies to sales teams to mobile fleets, businesses can leverage GPS apps for productivity monitoring, automatic reporting, and time/payroll tracking. These applications can capture things like mileage for expense reporting, see what appointments or job sites your team is currently working on, and coordinate your workforce to maximize customer satisfaction and ensure processes are carried out efficiently.

GPS Across Industries

Companies with retail locations can use in-store GPS to track customers’ movements, allow them to make strategic decisions based on buyer preferences and habits. From data collected, businesses can launch promotions and deals, hone in on their target audience, and increase sales revenue.

For large factories or manufacturing companies, machinery equipped with an IoT network and GPS tracking will enable managers and owners to uncover inefficiencies, maintain process consistency and quality of product, and identify areas of improvement to boost profitability. Additionally, trucks hauling cargo can be monitored via GPS tracking so their progress is documented. And, if necessary, they can be rerouted to ensure company products and delivered safely and on-time to their intended destination.

GPS Applications

Vodafone is one of the many pioneers behind the new technology, launching a range of GPS trackers that can be used in a variety of ways. Vodafone by V location tracker, for example, can be used to locate lost equipment, luggage, products, or even your children. These gadgets are small enough to fit in one’s pocket and can easily integrate with your smartphone to document and check on the location of inventory, people, or vehicles.

Another product Vodafone offers is their V-Multi Tracker, a tiny pod-shaped device that can fit inside a bag and help not only track items, but establish ‘safe zones.’ This functionality can be used to ensure product or valuables are kept within the confines of certain areas and if removed, the app will generate an alert to your smartphone.

With the continuous progression of technology, businesses  will need to adopt and leverage new strategies in order to operate at an optimal level and remain competitive. The trend in GPS tracking is making waves across all industries and will only continue to grow in popularity as its capabilities advance. When integrated with IoT, businesses will be able to collect highly valuable data, which in turn can be used to make profitable decisions, improve processes, and enhance product and service offerings.