1. Data at the heart of the IoT era
The Internet of Things is growing exponentially, and companies are harnessing its power to seek further business improvements. And the biggest challenge for the IoT is not connectivity, but the real component of the IoT -- data.
The age of IoT Data at its core
The IoT is growing at a rapid pace and is beginning to touch every industry with the power of technology. IoT connects every possible communicating object, transforming traditional devices into smart ones and opening up new technology revenue streams for businesses. And the potentially revolutionary nature of the IoT makes it accessible to every department of the organization.
Because the IoT is made up of "things," all devices are potentially untapped resources. Like the Internet, the IoT involves the interaction and access to networked information. This puts hardware devices in a key role, and information inequality, customer service, social welfare, and less intelligent ecosystems could all impact the development of the IoT. And plans to make everything intelligent have been pushing forward in recent years based on a technological foundation that has the intelligence and insights to generate more mineable data that will allow the IoT's business value to increase even further.
The Internet of Things is exploding in all directions
At present, a large number of IoT devices are flooding into the market, and according to forecasts by foreign organizations, the number of IoT smart devices is expected to grow by 15 percent this year, reaching 20 billion. And various related industries from design, manufacturing, production of related software and components will also enter the IoT ecosystem, thus creating more industry profits. Intelligent analytics and data collection using IoT devices are at the heart of the profit drive involving all industries.
From a survey, about 65 percent of companies are currently using or planning to use IoT solutions to solve business problems. And when it comes to investment, IoT is growing from $215 billion in 2015 to $832 billion by 2020, and companies will keep looking for new areas of application for IoT technology in the coming years.
2, big data is essential
In this case, data collection and analysis must keep pace with the pace of device development and deployment, and its critical to the IoT. IoT data mining concerns the scope of business and the development of the company's prospects, while these data can help the IoT to explore the potential to find the existence of the problem, the formation of a virtuous cycle.
By analyzing this data with specialized expertise, IoT companies and operators can make higher profits, improve the user experience, revisit current operating models, and assess the level of knowledge. And IoT data itself is a kind of big data, a source of structured, real-time streaming information collected from a large number of sensors and accessed through devices and cloud computing. Thus, the success of an IoT project depends on being able to intelligently utilize the data collected.
At the moment, only 1/3 of European companies can analyze the vast amounts of data generated by their IoT projects, which means that many projects have not yet begun to explore the hidden value in the data. And in the long run, this will likely leave businesses missing out on new IoT opportunities, lacking the help of IoT insights and struggling to provide customized services to consumers. Leveraging this data in new business models can address monetization issues, protect a company's commercial bottom line, and define new business directions.
IoT data analytics needs to remain stable
There are a number of factors that are important in IoT data analytics. First of all, it is very important to maintain 7*24 visibility of data, and real-time analytics can provide overall control support for IoT projects. This may include a large number of devices, sensors, networks and connections. Companies also need to be able to view the current status of data, network technology, BI, and network deployments in real time to maintain control.
Establishing a unified platform that can provide information on the impact of collected data on assets and even customer behavior helps companies understand customer behavior and details, which can be used to improve the quality of managed services. This will facilitate the improvement of existing services, the introduction of new products, the opening up of new revenue streams and service providers, and maintaining a competitive edge in the market.
3, IoT data security first
On top of the platform should have professional supervisors or equipment. On the one hand, it can improve the enterprise's grasp of the data, on the other hand, it can be quickly filtered in case of any activities that may interfere with the IoT infrastructure. As the IoT's network assumes an important think, its data traffic needs to be guaranteed reliable and secure, as well as the resilience of the overall network.
Generally speaking, new opportunities arise from the collaboration between IoT networks and operators. IoT is a new field that can be better served by developing new APIs and adopting new technologies. And all system functions, attributes, etc. can be accessed through APIs for services, provisioning, configuration, statistics and even intelligent business terminals. In the long run, IoT service providers can become partners of IT companies to further improve the efficiency of work among different enterprises. The corresponding data will become a new currency, and operators who have mastered this part of the API data will naturally become the beneficiaries.
IoT security should not be underestimated
Security and privacy of the IoT is also a concern, with more than 25 percent of companies citing security and privacy issues as a major barrier to IoT investment. And this is particularly important when it comes to devices, with current impediments to IoT use in healthcare also limited to security concerns. IoT networks need to be optimized in a number of areas, including relevant data, device reliability, security, and implementation.
In the current era, the IoT is growing at a very promising pace. Early investments in devices and services have long begun to pay off in consumer and industrial applications, and the trend is accelerating, with the need now being for ways to make the entire IoT system smarter. And big data is, without a doubt, another reliable technology.