The Internet of Things is an evolution where everyday objects have started, and will continue to have network connectivity, allowing them to send and retrieve data.
By 2020, Gartner (the analytics firm) suggest over 20 billion items will be connected. That is a lot of data.
Utilising IoT data will see revolutionary improvements in business operational efficiency and growth.
However, there is a problem – not security – that must be addressed first to take advantage of the game-changing benefits the IoT will bring.
The problem is data.
There is so much data being received and sent out that organisations are spending significantly more time processing the data than actually using it to benefit operations.
Integrated data lakes are a possible solution. By pooling all data into one digital arena it is often easier to identify relevant and useful information.
Teradata, the data analytics company, this week released an apparent proven IP to transform sensor data streams into ROI streams.
This presents a possible solution to ease the IoT data search process.
It has developed three accelerators to address a set of business critical problems burdening companies wanting to have their slice of the IoT cake.
The condition-based maintenance accelerator continuously monitors and analyses asset data at scale to increase availability, improve safety, and reduce costs, while the manufacturing performance optimisation accelerator identifies complex production problems across equipment performance and availability for quick corrective action.
The third, sensor data qualification, accelerator automates recommendations for sensor readings based on relevant anomaly patterns
Collecting IoT data, any big data, is laborious and costly, but its benefits usurp the effort.
Indeed, big data and IoT together are expected to generate £322 billion in revenue for the UK economy from 2015 to 2020.
If systems, like integrated data lakes or accelerators can speed up the process then the results will be even more fruitful.