Companies are using IoT for the following purposes:-
To improve customer satisfaction by providing instant support through the integration of chatbots and artificial intelligence with IoT.
Better inventory management and tracing of assets by embedding surveillance system with IoT.
To gather information about the customers in order to study their requirements, buying behavior and the scope of improvement.
To check the performance of their product or service.
IoT allows companies to facilitate omnichannel services.
To obtain real-time data of customers for better decision-making by minimizing the risk and cost.