Technological transition from analog to internet of things ( IoT ) on Indian petro-retail’s customer service

Abstract

Objectives: To identify the gap in the adaptation of IoTs towards meeting the customer expectation for services in petro-retailing in India. Method: Review of available published research articles, case studies, published article in journals and websites on uses of IOTs in various sectors like retail, telecom manufacturing, supply chain management, oil & gas etc. Findings: Technological advances have had a significant impact on both consumers as well as industries. While internet changed the way human interact, Internet of Things (IoT) is expected to change the way machines interact. Adding a networked layer to regular objects has transformed the way we use and interact with them. Industries like healthcare, manufacturing, telecom, etc have seen significant changes with the introduction of IoT. Oil & Gas industry has also seen implementation of IoT but the adoption has varied according to sector. Upstream sector, involved in exploration and drilling, has seen significant adoption while Mid-stream sector, involved in transport and storage, has seen only specific application. IoT solutions have been used for cost optimization as well as improved operations management. Downstream sector (including refining and retail) has seen only limited adoption. Novelty: IoTs are the technology on which future society is going to ride. The use of IoT is going to have huge impact in service industry including petro retailing. Hence the analysis of gap in adaptation shall be helpful for the academician’s, managers in Oil & Gas industry for further review, study and implementation. Keywords: Internet of Things; Indian fuel retail; IOT in oil & gas; new technology adoption; customer experience