Is it possible to locate lost assets with IoT trackers?

We all have lost something important once in our lives, right?

For businesses, that’s no different. Losing track of valuable assets – equipment, tools, inventory, or whatever – can be a costly and disruptive nuisance. Lost assets lead to wasted time searching, lost revenue from downtime, potential safety hazards, and even reputational damage!

In this article, we will explore how the Internet of Things (IoT) is changing the game when it comes to asset tracking and recovery. We’ll look at whether IoT can help you locate lost assets, explore the technology behind it, and examine its capabilities and benefits!

Is it possible to locate lost assets with IoT?

Yes, it is possible! The Internet of Things offers powerful tools to locate lost assets and improve overall asset management. IoT takes advantage of a network of interconnected devices (sensors, trackers, and other smart technology) to collect and transmit data about your assets in real time.

This data can pinpoint their location, reveal their condition, and even predict potential problems. Combining sophisticated sensors with robust data analytics, businesses can get unprecedented visibility into the whereabouts of their assets – more on their advantages later.

Sure, this technology might not be foolproof, and various factors can influence the effectiveness of asset location, but IoT-based tracking is a significant improvement over traditional methods.

How do these IoT tracking systems work to locate lost assets?

These IoT-based tracking systems typically involve attaching a small sensor or tracker to the asset you want to monitor. They collect data such as location, temperature, and other relevant information depending on the sensor type.

The data package is then transmitted wirelessly via technologies like GPS, cellular networks, Wi-Fi, or Bluetooth, to a central system (a cloud platform or a server) where it is safely stored.

Sophisticated software and data analytics tools then process this data, identifying trends, patterns, and potential issues – like low battery power, unexpected movement, or unusual environmental conditions around the asset.

This processed data is then presented through user-friendly dashboards, maps, and reports, providing you with real-time visibility into the location and condition of your assets.

This way, if an asset goes missing, the tracking data helps you locate it quickly and efficiently.

Modern IoT-based methods to locate lost assets

Let’s now look at some of the specific technologies and methods used to locate lost assets using IoT:

• GPS tracking: the Global Positioning System (GPS), originally a military-grade technology, uses satellite signals to pinpoint the exact location of assets. This is particularly useful for tracking mobile assets like vehicles or equipment that move frequently;
• RFID tracking: radio-frequency identification (RFID) tags are small electronic tags that can be attached to assets. RFID readers can then detect and identify these tags, providing information about the asset’s location and other relevant details, even without direct line-of-sight. This technology is frequently used for tracking inventory and managing assets within a defined space;
• Bluetooth tracking: beacons transmit signals that can be detected by smartphones or other Bluetooth-enabled devices. It sees some use in short-range tracking, such as locating assets within a building or a medium-sized warehouse;
• Cellular tracking: these trackers use cellular networks to transmit location data, providing wide-area coverage and allowing you to locate assets virtually anywhere with a cellular signal. Like GPS-based systems, cellular-based ones are useful for tracking mobile assets across large distances;
• Ultra-wideband (UWB) tracking: UWB technology offers very high accuracy in locating assets, particularly in indoor environments where GPS signals may be weak or unavailable. It is frequently utilized in applications requiring precise positioning;
• Wi-Fi tracking: this tracking technology uses the Wi-Fi signals emitted by routers and access points to approximate the location of assets. It’s suitable for indoor environments where Wi-Fi networks are already established;
• Near Field Communication (NFC) tracking: uses short-range wireless communication to exchange data between two devices. NFC tags can be incorporated into assets, allowing for quick identification and location confirmation through compatible smartphones. This technology is typically used for asset identification and verification rather than continuous location tracking, however.

Factors that may affect your assets’ findability

Even with the best technology, many factors can affect how easily you can locate lost assets using IoT. To have realistic expectations and effective planning, you have to understand the tech’s limitations.

First, the placement and reliability of the sensor or tracker itself are key. If the device is improperly installed or malfunctions, it won’t transmit the data needed to pinpoint the asset’s location. A dead battery or a damaged sensor renders the entire tracking system useless. To avoid these issues, perform regular maintenance and ensure devices are securely attached.

Another important aspect is connectivity. IoT devices rely on wireless communication (like cellular networks, Wi-Fi, or Bluetooth) to transmit data. If the asset is in an area with poor or no connectivity, locating it becomes very difficult or impossible. Remote areas, underground locations, or environments with significant signal interference will usually limit the effectiveness of location tracking.

The accuracy of the location data also depends on the technology used. GPS, for example, has limitations in terms of precision, especially in densely populated areas with tall buildings or in environments with obstructions. Similarly, Wi-Fi-based location tracking is limited by the range of available Wi-Fi signals.

Finally, the lifespan of the devices is important. Trackers, like any technology, have a limited lifespan and depend on their battery to work. If a tracker’s battery dies or the device malfunctions before the asset is recovered, the ability to locate it is lost. Once more, regular device maintenance is essential for maximizing the longevity of your tracking devices and, in turn, the ability to locate missing items.

Beyond location: additional benefits of IoT-based tracking

While locating lost assets is a big win with IoT asset tracking, it’s just the tip of the iceberg. These systems can do so much more for your business.

For example, as long as they’re properly secured, they make your operations way safer. Knowing where your assets are at all times and setting up alerts that you know if something moves when it shouldn’t make theft so much harder. Having this level of oversight helps you prevent losses and keep your resources safe.

Beyond security, knowing the location of your assets in real-time makes it easier to use them efficiently and streamline your operations. You can optimize routes, reduce wasted time searching for stuff, and better use your equipment. This not only reduces costs but also increases productivity across the board.

The data these systems collect offers valuable insights into how your assets are used and their environmental impact. You can use this info to schedule maintenance proactively, fixing your equipment’s minor issues before catastrophic failures happen. It’s like they say: an ounce of prevention is worth a pound of cure.

Also, having all this information at your fingertips allows you to identify opportunities to reduce emissions throughout your supply chain, a goal we should all strive for in the face of climate change.

Closing thoughts

As this article shows, it’s 100% possible to locate lost assets with the aid of IoT. This technology offers a powerful way to track and recover missing resources. Beyond that, IoT asset tracking offers a wide range of benefits – from enhanced security and improved efficiency to data-driven decision-making, for example.

Implementing these solutions can really change how your business works, helping you boost productivity and create more sustainable operations!

Datanet IoT is your partner in tracking and monitoring

Datanet IoT provides a comprehensive range of tracking devices for all your needs, whether you’re looking for asset tracking, oceanographic monitoring, or environmental data collection. We’re here to help you tap into the potential of IoT to optimize your business and achieve goals beyond your wildest dreams.

 Contact us today to learn more!