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From the research I found, the disadvantages of iot in retail are regulatory concerns. IoT implementations are collecting large amounts of data that could potentially be sensitive or harmful if exposed. This includes personal data about employees or customers, as well as proprietary business data about operations and internal processes. On the regulatory side, privacy concerns, such as clarifying who can access IoT data and how that data is used, must be addressed. Governments and industry bodies need to set standards and regulations for the various industries to ensure that data is not misused. Next is scalability. Companies often successfully develop an IoT solution with many devices in a single location, but later discover that scalability is an issue. It is therefore crucial that the design of a system caters for additional resources.

Nebula. (2016). Risks and Disadvantages of IoT and How to Overcome Them. Retrieved from https://www.nebula.co.za/2016/11/11/risks-disadvantages-iot-overcome/

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Thank you for participating in today's discussion guys.I learnt a lot from you guys. I can conclude that IoT Service that has been built by retailers has many pro cons in enhancing the customers experience. Have a good day and goodbye guys.

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I believe that there are cons to everything. One of the cons of IoT Service for retailers are consumer's privacy as users who purchase products like smart watches and fitness trackers treasure their privacy. They would want to know that the brands has a secured privacy that uses sensor data to market associated goods and services. Also, the Internet of Things could be prone to malicious programs and hackers. Thus, to keep and store data plays a huge part and if the company couldnt manage it it would be a difficult task. This could lead to bad and negative feedbacks from customers.                                        1) Klubnikin, A. (2016). The Pros and Cons with Internet of Things. Retrieved from https://tech.co/pros-cons-marketing-internet-things-2016-08

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The disadvantages of retail Iot in retailing industries on the other hand, is only accurate if all pricing across the board is the same and all pricing changes occur at the same rate. In most cases, this is not realistic in retail because of the many variations that exist in merchandise pricing. For example, depreciation, markdowns, product damage and theft can affect the price of the retail inventory. For this reason, any calculations made using the retail inventory method should serve only as an estimate.

Brass.B. (2018). Hearst Newspapers. What Are the Advantages & Disadvantages of Using the Retail Inventory Method? Retrieved from https://smallbusiness.chron.com/advantages-disadvantages-using-retail-inventory-method-23136.html

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Exactly! All of you are right about the advantages of IoT in retail especially how it enhances customers experience. It certainly improves customers' experiences especially by creating productive people flow. Marketing and sales also provide better ones through collection of product, inventory, and shopper data. Customer’s in many stores can just scan the products or things at stores for information and pricing. Giving each shopper an app or cart with tablet, can absolutely improve this experience using this IoT.

1). Shuup. (n.d.). How Retail IoT Solutions Improve the Customer Experience. Retrieved from
https://www.shuup.com/shopping/retail-iot-solutions-improve-customer-experience/

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Alright guys. We've basically covered a lot about IoT service in retail industry. What about the disadvantages of IoT in retail industry? Is there a lot drawbacks to this type of service?

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In my opinon,The Internet of Things (IoT) has revolutionized the shopping experience. As the demand for innovation rises and is constantly met, the focus shifts to improving customer experience. The IoT ecosystem connects, handles and transmits enormous amounts of data across applications, systems, and platforms. Automatic monitoring, sensing and alerting solutions also aid in enhancing productivity, but it is not a true representation of IoT. This stems from the fact that IoT is more than providing IP connectivity, but requires a network connecting devices which communicate and operate autonomously.

Cio Review. (2018). How IoT Benefits the Retail Sector. Retrieved from https://www.cioreview.com/news/how-iot-benefits-the-retail-sector-nid-26402-cid-38.html

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According to my research based on IoT in retailing industries, there are also many disadvantages of it. One of them is during managing IoT obstacles. The influx of data as a result of adopting IoT will enable companies to significantly improve management and operations. However, despite the prospect of IoT transforming businesses, implementing an IoT solution can be fraught with complexities. Another disadvantage is, technical requirements. In order for an IoT network to give value to a business, it must work as a single, cohesive system. From a technical perspective, the reality is that IoT is often fragmented and lacks interoperability. Last but not least, the other disadvantage in term of its security. IoT devices are often vulnerable to security breaches because of poor design. This can have a major impact on company data security, as well as putting costly IoT-related equipment at risk. For this reason, IoT needs strong authentication methods, encrypted data and a platform that can track irregularities on a network.

REFERENCES:
Nebula. (2016). Risks and Disadvantages of IoT and How to Overcome Them. Retrieved from https://www.nebula.co.za/2016/11/11/risks-disadvantages-iot-overcome/

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There are many benefits of IoT uses in retailing industries. One of them is having IoT technology in action on the retail floor. When in-store traffic began to decline, many retailers opted to reduce their floor staff in an effort to remain profitable. At their busiest times, this didn’t turn out to be a smart strategy as if stores were overcrowded, lines would mount, and service would suffer. For example, the existence of digital fitting rooms. Digital dressing rooms provide a way for customers to interact with available inventory and staff. If a customer is trying on an item and needs another size, they can call an associate with just one touch. Another example is the smart shelves. It literally gives benefit as it can alert store associates as to stock levels and can initiate reorders or transfers from other stores, eliminating the frustration of a customer being unable to find their size or desired item. Not only that, by having RFID beacons also gives benefit in enabling a highly personalized shopping experience. Beacons recognize customers when they are in the vicinity, sending them offers that are relevant to their past buying behaviors. Once they enter the store, the associate receives a notification and will then be able to access their loyalty program activity, see what they searched for recently, what they have purchased in the past, and so on.

REFERENCES:
Donaldson, J. (2018, April 23). IoT in Retail: The Benefits to the Retail Employee. MojiX. Retrieved from https://www.mojix.com/iot-retail-employee/

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The disadvantages of IoT in retail are Security and Interoperability and Data Storage and Management. Lets see what I have found.

The first one is security and interoperability. Its is There are no universally approved IoT data encryption and security standards yet. Subsequently, many odds stories have hackers breaching smart fridges and baby monitors have popped up. Most smart devices are developed by startups and non-tech brands like Absolut and L’Oreal. They are not designed to interact with each other, which contradicts the idea of global connected environment.

Besides, data storage and management. If a company wants to use IoT-generated information for business purposes, it should be prepared to analyze huge amounts of data in real time. The task cannot be performed manually and, therefore, requires customized applications. Enterprises will have to extend storage capacities and develop reliable solutions to use the data in a cost-effective way.

Basically, there pros and cons of IoT in retail. We need to use it wisely.

Klubnikin, A. (n.d). The Pros and Cons Marketing with the Internet of Things. Tech Co. https://tech.co/pros-cons-marketing-internet-things-2016-08

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According to Mokriya, there are few benefits of IoT in retail which are Supply chain and inventory management and better handling of the supply chain.

For supply chain and inventory management, Inventory management problems account for some of the biggest expenditures and losses in retail stores. According to a report by McKinsey, inventory distortion, including overstock, stockouts, and shrinkage, cost retailers a yearly $1.1 trillion worldwide. In the U.S., shrinkage alone is hitting retailers with $42 billion in losses every year, 1.5 percent of total retail sales.

Thanks to IoT, retailers will be able to not only improve inventory control within the store but also expand it to the supply chain. Tracking of goods no longer starts at the store’s receiving dock – it begins at the point of manufacturing. It shows that IoT are really helpful.

After that, with IoT, they get better handling of the supply chain. With RFID tags placed on goods and environmental sensors in transportation vehicles, retailers will be able to trace the goods they purchase and their treatment and conditions throughout the supply chain. Information gathered from devices will be analyzed in the cloud and rule-based notifications and alerts can be sent to desktop and mobile apps in order to inform employees and staff members of events that must be acted upon.

The enhanced control will enable suppliers to reduce product damage throughout the journey to retail outlets. This will prove especially useful for the shipping of perishable and temperature sensitive inventory.

How The Retail Industry Can Benefit From The Internet of Things. (n.d). Mokriya. http://mokriya.com/blog/how-the-retail-industry-can-benefit-from-the-internet-of-things/

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Thank you everyone for your response. I'm a bit confuse because what i found on the internet are IoT can be applied in IoT industries such as automotive, retail and smart buildings.

The first one is automotive. When the IoT, the car turns data into actionable insight, both inside the car and in the world around It.

Next, retail. Through the IoT, the power grid’s countless, devices can share information in a real time.

Lastly, smart buildings. The IoT is addressing rising energy costs, and code compliance.

Internet of Things applications across industries. (n.d). Retrieved from https://www.intel.sg/content/www/xa/en/internet-of-things/industry-solutions.htm

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IoT devices in-store could help retailers to track a customer's physical journey whilst buying in the store. Consumers are then offered suitable adapted content during the critical points of the customers' journey. Most of the time, it involves products or services that are most likely to appeal to the customer at that moment. Customers will receive messages or recommendations through their mobile devices as retailers link up IoT to analytics, therefore enhance in-store communication.

Fellah, A. (2017). How IoT can benefit for retailers. Maravedis. Retrieved from https://www.maravedis-bwa.com/2017/10/14/how-iot-can-benefit-for-retailers/

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Based on what I found,  an advantage of the retail inventory method is that it does not require a physical inventory. The retail inventory method only requires an organization to record the retail prices of inventory items. If an organization has multiple locations in different cities and states, performing a physical inventory can become a costly and time-consuming undertaking. By using retail inventory, an organization can prepare an inventory for a centralized location. The retail inventory method also allows the organization to create an inventory value report for budgeting or the preparation of financial statements.

Bass., B. (2018). What Are the Advantages & Disadvantages of Using the Retail Inventory Method?. Retrieved from https://smallbusiness.chron.com/advantages-disadvantages-using-retail-inventory-method-23136.html

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There is a few ways of how IoT be applied in retailing industries. One of them is automated checkout. Usually we have seen how long lines deter the customers from purchasing products. And, it can feel unprofitable to pay multiple employees to work during busier shopping times. With IoT, you can set up a system to read tags on each item when a customer leaves the store. A checkout system would then tally the items up and automatically deduce that cost from the customers’ mobile payment app. Second is, smart shelves. Many employees are focussed on keeping track of items to ensure they’re never out-of-stock, and checking that items aren’t misplaced on various shelves. Smart Shelves can be used to automate both of those tasks, while simultaneously detecting potential theft. Smart Shelves inform you when items are running low or when items are incorrectly placed on a shelf, which makes your inventory process cost-effective and more precise. Lastly, within robot employees can help customers find specific products and provides information on promotions and inventory plus, they can even answer both English and Spanish questions.

REFERENCES:
Forsey, C. (2018, Jun 25). 7 Ways IoT Is Changing Retail in 2018. Hubspot. Retrieved from https://blog.hubspot.com/marketing/iot-retail

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I Agree with all of you! Therefore , based on what I have observed, in the retail world, t retailers are now building IoT Service to most importantly enhance customers' experience. So what atually are the more advantages of building IoT Service as to how it enhances customers experience in retail?

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Based on my research, it can helps in the engagement opportunities. As you can see, digital signage is a main area where the combination with IoT leads to new forms of engagement in retail. With the use of digital signage in IoT, personalization, information and context are essential, thanks to the connection with data (analysis) and sensors, for instance based on movement or gesture recognition or the possibilities offered by various data-generating IoT-enabled devices, depending on the situation. Retailers often use to connect physical and digital, certainly when touch is involved as one of their way.

I Scoop. (2016). The Internet of Things (IoT) in the retail industry – evolution and use cases. Retrieved from https://www.i-scoop.eu/internet-of-things-guide/internet-things-retail-industry/

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According to my research, there are few examples of IoT Applications can be applied in different industries. One of them is airline. An equipment tracking app provides an airline’s engineers with a live view of the locations of each piece of maintenance equipment. By increasing the efficiency of engineers, this IoT application is not only generating significant cost savings and process improvements, but also impacting the customer experience in the end through more reliable, on-time flights.

Mendix. (n.d.). Examples of IoT Applications. Retrieved from https://www.mendix.com/examples-of-iot-applications/

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Did you know that in retail industries, IoT can be applied in so many ways! Thus, IoT is one of the technology that retailers often use as it assists every industry by streamlining and automating day-to-day operations or delivering better experiences for consumers. First, retailers use it as a way to collect and analyse data about customers' digital journey/data with their brands to follow and provide suitable preferences for them. With this, IoT enable smart cameras and sensors so retailers can track customers' journey in the store. For example, most stores has a website that requires for customers to log in thus they can know their insights, which item are popular among them and so on. Then, there is predictive equipment maintenance that's used for managing energy, predicting equipment failure or detecting other issues. For instance, grocery stores has these units that has sensors to predict maintenance issues that might affect power consumption for savings or monitor temperature fluctuations to ensure food safety.

1). Rawal, K. (2018). IoT in Retail Enriches In-store Customer Experiences for Brick & Morter. Retrieved from http://customerthink.com/iot-in-retail-enriches-in-store-customer-experiences-for-brick-morter/

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1. When new technology comes along, it is important that the technology used is able to reach out to consumers. The easiest way to do that is when consumers are using their phones in the store. IoT has a mechanism to connect the digital life of the consumer to the physical location in the store. QR codes or AR cues can connect consumer, store and phones all together.

2. With employees being the most important assets in stores, IoT can also help employees in keeping track of the customers' shopping carts. This can be seen in RFID-tracked shoping carts that makes shopping experience more convenient.

Baird, N. (2017). Five retail IoT use cases, when retailers finally get around to IoT. Forbes. Retrieved from https://www.forbes.com/sites/nikkibaird/2017/04/24/five-retail-iot-use-cases-when-retailers-finally-get-around-to-iot/#7d3dc98a6255

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guys, can you explain how IoT can be applied in IoT industries?

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In my opinion, IoT is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.  In the other word, IoT is actually a pretty simple concept, it means taking all the things in the world and connecting them to the internet. this will totally helps people as nowadays as it can send information or receive information, or both. This ability to send and/or receive information makes things smart, and smart is good.

REFERENCES:
McClelland, C. (2017, May 30). What is IoT?A Simple Explanation of the Internet of Things. IoT For All. Retrieved from https://www.iotforall.com/what-is-iot-simple-explanation/

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That's definitely true, "Internet of things" (IoT) has become a widely known topic of conversation nowadays. Did you know it is actually the concept of connecting any device with an on and off switch to the Internet (and/or to each other). This consists of things that we use in our daily lives such as cellphones, coffee makers, washing machines, headphones, lamps, wearable devices and almost anything else you can think of. It is generally a massive network for things to be connected that also includes people hence allows the connection between electronic devices & humans easier to make our tech-savvy world at par with the future. IoT provides endless virtual opportunities and connections to take place, anywhere you are.

1)      Morgan, J. (2014). A Simple Explanation of “The Internet of Things”. Retrieved from https://www.forbes.com/sites/jacobmorgan/2014/05/13/simple-explanation-internet-things-that-anyone-can-understand/#2d1cf0c81d09

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From what I know, IoT is short for Internet of Things. The Internet of Things refers to the ever-growing network of physical objects that feature an IP address for internet connectivity, and the communication that occurs between these objects and other Internet-enabled devices and systems. The Internet of Things, or IoT, refers to the billions of physical devices around the world that are now connected to the internet, collecting and sharing data.

Ranger., S. (2018, August 21).

What is the IoT? Everything you need to know about the Internet of Things right now. Retrieved from https://www.zdnet.com/article/what-is-the-internet-of-things-everything-you-need-to-know-about-the-iot-right-now/

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I agree with you guys, in my understanding Internet of Things (IoT) is an ecosystem of connected physical objects that are accessible through the internet. IoT also could be a person with a heart monitor or an automobile with built-in-sensors, for example an objects that have been assigned an IP address and have the ability to collect and transfer data over a network without manual assistance or intervention.

Happiest Mind. (2018).The lifeline for a data-driven world. Retrieved from https://www.happiestminds.com/Insights/internet-of-things/

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Firstly, Internet of Things is defined as a Machine-to-Machine connectivity. This means that hardware devices and sensors interact with each other on their settings and whereabouts. Home appliances such as air conditioners, refrigerators dryers have alo integrated IoT devices in them.

In retail services, IoT lets retailers track customer's behavior and preferences and the data collected shall be used in future business decisions.

Parker, R. (2017). Internet of Things in retail: what’s in it for retailers. Readwrite. Retrieved from https://readwrite.com/2017/11/24/internet-of-things-plus-retail/

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Based on my researched, I think IoT is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers. It has the ability to transfer data over a network without require human to human or human to computer interaction. It can be a person with a heart transplant or maybe an animal with a bio chip or it also can be a car that has a sensor.  organizations in a variety of industries are using IoT to operate efficiently better understand customers to deliver enhanced customer service, improve decision-making and increase the value of the business.

Rouse. M. (n.d). Internet of things IoT. IoT Agenda. Retrieved from https://internetofthingsagenda.techtarget.com/definition/Internet-of-Things-IoT

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Assalamualaikum guys, can all of you define IoT?