The top 5 edge computing use cases you should know can positively impact your business

A distributed IT approach called edge computing keeps data processing and storage near the data source rather than transmitting it to the cloud. Enhanced security, quicker reaction times, lower latency, and real-time insights are all benefits of keeping data near the source.

Let's look at the top 5 edge computing use cases that demonstrate how edge computing might benefit your company.

1. Predictive Maintenance 

Edge computing enables manufacturers to do just that. When a failure happens, manufacturers want to be able to identify and evaluate changes in their goods. Users using predictive maintenance can foresee any service interruptions, deal with them, and go on with the knowledge that their activities will run without a hitch.

2. Remote Monitoring 

Since their installations are frequently located in distant areas and because a failure there may have fatal effects, remote monitoring is especially important for oil and gas firms.

3. Fraud Detection in Financial Services 

Financial institutions can detect fraud at the transaction level in real-time thanks to edge computing, which occurs closer to the source device. As opposed to discovering fraudulent tendencies after the fact, running AI-enabled analytics at the edge enables banks and financial institutions to take proactive measures to solve these problems and lessen their financial effect. Moreover, doing so enhances client pleasure, guarantees regulatory compliance, and safeguards the institution's brand.

4. Enhanced Customer Support 

Businesses may use edge computing to create multichannel, hyper-personalized customer experiences in addition to real-time customer assistance. Organizations may provide their consumers with a better experience right away by analyzing customer data—location, time of day, previous purchase history, etc and responding appropriately with personalized communications or offers.

5. Reimagining the Retail Experience 

Online shops may discover and track sales patterns, product presentations on the website, and efficient promotions and discount coupons with the use of edge computing on the digital front. Customers want seamless experiences from brick-and-mortar stores in the post-COVID world, therefore stores must use edge computing and the Internet of Things to handle inventory, contactless checkout, virtual changing rooms, staffing requirements, and smart shelving.