The Importance of Investing in IoT

The efficiencies that can be gained by leveraging IoT are huge and using that, devices can collect data that is current and use real-time information in ways that are more meaningful and actionable.

By 2020, 20 billion connected smart devices will be interacting with one another via the internet. However, deployment and manageability of IoT devices into fringe ecosystems and analytics of the data collected still present head scratching problems. For example, IoT integration in the automobile industry has been successful, yet the average age of vehicles in the US is estimated to be around 10 years. These vehicles lack sensors and cannot be incorporated into an IoT ecosystem. Thus, there is cause of concern how quickly IoT will penetrate the market and enable digital business.

This problem is exacerbated by the gap in the industry of professionals trained in business intelligence, as well as the amount of IT students who have no skills corresponding to this revolutionary technology. Both businesses and education systems must keep in step with the IoT trend in the market today.

Get faster ROI with cloud data analytics

Businesses should begin restructuring their analytic models into cloud database analytics. Investment cost in this new technology is nada and cloud databases are easy to configure. To mollify skeptics, trial cloud databases can be implemented. The deployment of data to fringe ecosystems through the cloud database is instantaneous. Mobile access of cloud database from any part of the world basically means that the user is always connected to the data. Security concerns surrounding cloud database analytics are unfounded as they are exceptionally secure. IT maintenance of cloud database analytics is nil as there is no hardware installation involved, neither is there any update required. Analytics models built on cloud database can be accessed by partnering companies without crossing the company firewall.

Get ready for the future

Business leaders looking to integrate an IoT component in their companies must start training employees in business intelligence skills. Educators must impart knowledge on how to collect, store and analyze smart device data streams, sensor data analysis, data center management, predictive analysis and programming skills in leading big data platforms. Education systems must start focusing on training individuals with creative IoT skills to feed the influx of IoT systems that will be introduced in the next 10 years. In the future, the key players in the industry will be data scientists with knowledge about computer science, statistics and business.

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