Internet of Things Analytics is having a systematic approach to ingest data, putting it in the context of the situation and history related to the use case, and acting on it. This requires the understanding of advanced analytics and the generation of business value leveraging the IoT data gathered.
It is important to remember what is the Internet of Things (IoT). The IoT is the concept of everyday Things (people, animals, buildings, machines, cars, etc.) from industrial machines to wearable devices – using built-in sensors to gather data and take action on that data across a network. So it’s a building that uses sensors to automatically adjust heating and lighting. Or production equipment alerting maintenance personnel to an impending failure.
The Internet of Things (IoT) is the future of technology that can make our lives more efficient. If you think Big Data was having an impact on business, the adoption of IoT promises to have an even bigger impact. Today businesses struggle to cope with the vast amounts of new data that streams in from all of the devices and things in their network. When this data is combined with huge amounts of historical data, it is challenging to understand what is critical for business decisions.
Companies will derive business values and gain competitive advantage by transforming the wealth of data into actionable insight.
Sensor, machine-to-machine, and network data are expected to play a larger role in analytics. However, these data types present significant challenges related to data volume and variety, as well as predictive modeling. IoT Analytics systems vendors or solutions developed in-house are expected to deliver the ability to blend operational data with data from your IT systems of record and deliver intelligent analytics to those stakeholders who need them most.
How Internet of Things Analytics will benefit different industries
- Health Care
Many people have already adopted wearable devices to help monitor exercise, sleep and other health habits – and these items are only scratching the surface of how IoT impacts health care. Patient monitoring devices, electronic records and other smart accessories can help save lives.
- Manufacturing
This is one of the industries that benefits from IoT the most. Data-collecting sensors embedded in factory machinery or warehouse shelves can communicate problems or track resources in real time, making it easy to work more efficiently and keep costs down.
- Retail
Both consumers and stores can benefit from IoT. Stores, for example, might use IoT for inventory tracking or security purposes. Consumers may end up with personalized shopping experiences through data collected by sensors or cameras.
- Transportation
While cars aren’t at the point of driving themselves, they’re undoubtedly more technologically advanced than ever. The IoT also impacts transportation on a larger scale: delivery companies can track their fleet using GPS solutions. And roadways can be monitored via sensors to keep them as safe as possible.
- Utilities
Smart meters not only collect data automatically, they make it possible to apply analytics that can track and manage energy use. Likewise, sensors in devices such as windmills can track data and use predictive modeling to schedule downtime for more efficient energy use.
Conclusion
The growth of the Internet of Things is dependent on decisions made by humans and machines, influenced by analytics, derived from big data, and applied in real time. Internet of Things Analytics could change your business by both generating new revenue and reducing costs using advanced analytics.
In my next post I will continue explaining Internet of Things Analytics and presenting some of the IoT Analytics systems in the market. Stay tuned by subscribing to my website.
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