Radio Frequency Identification: Is This The Next Big Thing In Business?

Posted on October 30, 2011 in Business and Economy

By Yeshu Aggarwal:

Imagine next time when you go shopping to a multi-brand retail store like Big Bazaar and all you need to do is just shop and exit where your bill is ready! How easy and convenient life would be, wouldn’t it? Well, all this is something that can be reality in future.

By now, you would be thinking what technology would it be using? Many of you reading this article already would have known or at least guessed what I am talking about. For the rest, this simple looking method uses RFID. RFID stands for Radio Frequency Identification. An academic definition of RFID is as follows:

Any method of identifying unique items using radio waves. Typically, a reader (also called an interrogator) communicates with a transponder, which holds digital information in a microchip” (RFID Journal, 2011). A figure below represents how an RFID would work.

Without going further into technicalities, let us see how businesses have been using it.

Delhiites commuting by metro rail on a daily basis usually have a smart card. That smart card uses nothing but a passive RFID. This system has been successfully adopted from the London Metro Rail System. Those who have already used this can imagine how easy it makes your life. It hardly takes seconds for the card to be read and you are all set to board your train for your destination.

Other industry whose reliance on RFID technology is expected to increase is transport and logistics industry. Businesses are always worried about their consignment reaching their customers on time. Does it not feel good when you are being regularly updated by, say Sony, from whom you have recently bought a laptop about your order and delivery status on the go? If you ever come across this next time, think no further. RFID is the technology that helps you out. Business students must be aware about factors that are critical for a firm to survive in an industry. The value added service of tracking your package option largely depends on this technology and businesses like FedEx, DHL and UPS are already using it for their respective areas.

To not to make this piece of information look like a report on RFID, I leave you with this vital information about RFID. To know more about RFID technology and any related information, click here.

I leave you with this mesmerizing video on! Have a look at it yourself.

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