Analytics & IoT

The Internet of Things (IoT), is very likely up there in the top ten most exciting inventions in the recent past. IoT is all about pervasive connectivity and this means everything and anything is connected to the Internet in some way.

IoT, thus, gives businesses the opportunity to create and utilize actionable insights about consumers and trends that were unimaginable just a few decades ago. 

Now most predictions from well known analyst firms are that in 4 to 5 years, IoT will be the world’s largest device market; double the size of the smartphone, PC, tablet and the wearable market combined.

There will be reinventions and redefinitions of existing business models, helping save millions of dollars as this trend becomes a reality. 

Here’s a snapshot of only a few emerging technologies that will leverage IoT and drive new business opportunities:

Big Data & IoT

Enterprises need is a single, unified big data platform to traverse multiple data sources that often don’t work well together. Data integration, in batch or real time, requires the ability to connect to data from multiple sources either directly or through integration with existing data access technologies. This helps a business unlock the true value of data by giving them a 360-degree view of their customers that helps them identify relationships, uncover opportunities and engage with customers in a more meaningful way. 

Location intelligence & IoT

Approximately 70% to 80% of all industrial Internet data contains a location. Utilizing location intelligence and spatial information for industrial IoT use cases will drive changes in how governments will aid citizens and the way they interact with city services.

As an example, Smart City initiatives will utilize location intelligence to better understand population distribution. Analyzing demographics supports improved routing of public transportation and identifying urban infrastructure inefficiencies to better educate policymakers. When location intelligence is utilized within Smart City applications, city managers, operations and planners will be able to make swifter and better business decisions. 

Real time analytics & IoT

IoT analytics is fast becoming a data science specialized category and discipline. Deep machine learning technologies are showing good potential in deducing relationships

A simple use case that using IoT analytics is with Beacons, which emit a signal that can be picked up by a smartphone. Retailers offering deals, promotions, and recommendations on products for customers to choose to opt in. Beacons are estimated to amount to $44 billion in sales by 2018/19.

Real time analytics is poised to become differentiator for businesses in the very near future.

Disclaimer: The ideas, views and opinions expressed in this Linked In post are my own and not a reflection of current or previous employers.