Business Tools

IoT Big Data Benefits

IoT (Internet of Things) has been gaining a lot of popularity in the enterprise world. More and more companies are embracing the power of IoT devices in the quest to make business processes more efficient, faster, and secure. With these devices transmitting tons of data, business operators need/have to account for data security and how efficient it is for their safety.

A study sponsored by EMC2 and conducted by IDC shows that the amount of data IoT devices generate has been on the increase over the recent past. The study revealed that data produced by these devices would be approximately 44 trillion Gigs in 2020. To better comprehend how big these figures are, take one byte of data as a gallon of water. The amount of data generated in 10 seconds by these devices is enough to fill an averagely sized house in just 2 seconds.

This alone presents a hoard of challenges for data managers in terms of security. Aside from this, the explosion of big data witnessed over the recent past has also proven how valuable such data can help a business grow. Thanks to the devices generating data from various locations simultaneously, a business can curate the data to better their business operations. This is, however, a double-edged sword, as this means the amount of data could be overwhelming for data centres and IT specialists as well.

Proper data management in the IoT context is crucial if your business is to benefit from thus.  Outlined below are 3 basic tips to help your company manage the data elegantly.

#1 Understand Data Diversity

The IoT sphere contains many different levels and spectrums that need to be handled to manage data securely and efficiently. Some of the commonly known IoT communication protocols (CoAp, MQTT, Zigbee, Bluetooth, WIFI, etc.) contains metadata formats that need to be handled with care.  The wide range of communication protocols that these devices use make interoperability a major challenge for many businesses.

According to McKinsey, achieving IoT interoperability can help unlock an additional 40 percent of its market value.  The market of this has been estimated to be around $11 by 2025. Interestingly enough, failure to achieve this would mean IoT value would depreciate by the same percentage.

For a business to unlock the potential that IoT data holds, it would have to collate and relate received data from various domains, devices, and protocols.  Such intelligence and capacity are however yet to be achieved, meaning the industry is still to see this happen. Enterprises, therefore, have to invest in smarter analytics systems, and engines to have a shot in this. Look at this piece on how data impacts on IoT from Capita IT Resourcing.

 #2 Collect Selectively

While data collection is important, companies need the expertise to determine which data to keep, and which not to. This means having a natural way to collect only vital and relevant data from a device, then have it analyzed to ascertain its importance. Certain set of parameters have to be set/allowed before ruling out any type of data received from these ‘things.’ This should be the first step to reducing the amount of data received. The next step would be to ‘use then lose’ the data to avoid unnecessarily propagating or storing it.

#3 Edge data analytics

With the massive amounts of data transmitted per second, many of the traditional databases would collapse or malfunction as they aren’t built to handle such data rates. To putting the network on edge or slowing down business processes, some form of edge analytics would be needed to filter or pre-process received data before it’s stored in data centres.

Unlocking Data Value in IoT

With the IoT ecosystem evolving changing constantly, there’s room for supporting technologies to change and adapt to the new requirements.  Some of the avenues that will see rapid changes include data center networks, security, data management, and server technologies among many others.  If your company is planning on embracing this technology, it would then be advisable to have these factors in mind when shopping for one.

While IoT has been around for some time now, the only way, one can realize their real value is by looking into the data it generates. Knowing precisely why your business needs such technology, and how it can help grow business processes is the first step to realizing the actual benefits.



Powered by Facebook Comments

About the author

Chitraparna Sinha

I am the founder of Esmee Network, a content development and marketing hub. SocialVani is my 1st blog.

Leave a Comment