The Game-Changing Role of Wearable Technology in Business

A hundred years ago, industrial efficiency expert Frederick Taylor revolutionized manufacturing by methodically examining individual iron workers to derive insights into time and motion best practices. He broke down their tasks to bare bones, studied each movement and, in doing so, formulated principles that profoundly transformed production processes. In contemporary times, this concept has evolved into the application of wearable computing devices—yielding data for analysis and delivering feedback that enhances performance.

Wearable technology is revolutionizing the business landscape. It’s swiftly evolving, captivating users and piquing the interest of innovative developers who are keen on unlocking its full potential. As it continues to alter how businesses train, equip, and empower their employees, wearable technology boosts workplace productivity, creates unprecedented business opportunities, and keeps a close eye on health and safety parameters.

While wearable devices initially carved out a niche in the entertainment sphere, offering fun and engaging experiences, they are now poised to disrupt the business world. As enterprises become increasingly mobile-driven, it’s time for forward-thinking businesses to ponder the potential impact of this emerging technology.

Streamlining Workplace Performance

Wearable technology brings a plethora of analytical benefits to the table. Notably, it facilitates insights into the time and motion required to execute processes, thereby enhancing the efficiency of knowledge work. But the goal isn’t just to speed things up—wearable tech aims to help employees work smarter, not necessarily faster. This calls for a seamless collaboration between employees and their managers.

Now designed with business applications in mind, wearable technology is embraced by diverse industries like retail and customer service. For instance, in retail environments, devices such as wireless headsets, tech lanyards, and wrist displays provide employees with immediate access to information. This capability allows staff members to retrieve data without leaving their customers – enhancing the customer service experience.

It doesn’t stop there. Technicians can refer to digital manuals using smart glasses while performing repairs, while construction workers can leverage wearable technology to view inside piping and walls, boosting efficiency. Wearable devices are enabling numerous field-service companies to save millions by quickly resolving problems, fostering improved time management and greater job satisfaction among their employees.

Unveiling New Business Opportunities

More than just enhancing productivity or improving customer service, wearable technology is also a launchpad for novel business prospects. The proliferation of devices like smartwatches and Google Glass heralds a new era for marketing strategies—offering enriched customer data collection and insights into consumer engagement.

Digital marketers can now gather valuable information regarding consumer buying habits and locales with greater ease. But marketers won’t be the only beneficiaries of the wearable technology wave. The advent of new wearable tech spawns a need to develop applications for new systems and create fresh product lines.

With smart clothing and accessories already expanding the business horizon, the growth of this trend into a multibillion-dollar industry promises greater possibilities. This creates an opportunity for innovative companies to create new technologies, services, and even initiate new industries. Predictions indicate that by 2018, the wearable technology market will be worth over $8 billion.

Prioritizing Health and Safety

Wearable technology is not just about productivity or business opportunities, it’s also about the wellbeing of employees. Many companies are now harnessing wearable devices to monitor employee health parameters as part of corporate “wellness” initiatives.

For employees who spend long hours at their desks—particularly those telecommuting from home offices—this trend is a boon. Moreover, the data collected can be woven into incentivized wellness programs or health insurance policy premiums, leading to a reduction in healthcare-related costs.

In high-risk industries, wearable devices can play a pivotal role in maintaining safety standards. For instance, a device known as SmartCap, which resembles a conventional baseball cap, houses sensors that monitor truck drivers’ alertness levels—providing early warnings for “microsleep,” thus reducing fatigue-related accidents.

Wearable technology is transforming the business landscape across various sectors. As the next evolution of mobile technology, these devices obviate the need to unlock smartphones or open apps, keeping us connected at all times. They not only enhance workforce health and safety but also ramp up workplace productivity and usher in new business opportunities.

Given this trend’s economic impact and potential, it’s time to craft a strategic plan around wearable tech. An early adoption of this technology could significantly bolster your company’s competitiveness in the next phase of the mobile business frontier. Enterprises that welcome and prepare for this new wave of mobile technology will discover avenues for growth and increased profitability.

About the author

Jennifer McKenzie is a freelance writer with Assignyourwriter. Based in New York, NY, she has a keen interest in business, education, and cutting-edge technology. When she isn’t busy spinning words, Jennifer enjoys taking long walks and spending time with her two pets, Brando & Marlon. You can connect with Jennifer on Twitter @jenmcknzie.