Big Data & IoT
ROLLING WITH THE CHANGES
Tom Griffin of SevOne discusses some ways to get smart with IoT and Big Data.
T
here is no doubt that the
Internet of Things (IoT)
will shape our future;
how we shop, how we
consume power at home
and at work, and the ways our cities
grow and evolve. In fact, Gartner
forecasts that 6.4 billion connected
things will be in use worldwide in
2016, with 5.5 million new things
being connected every day. That’s a
lot of connections and a lot of data.
This growth is challenging today’s
leaders to reimagine their businesses,
and while many executives may be
wary of the unknown, they feel the
risks of adapting to IoT are much
less intimidating than the possibility
of being left behind. And it’s not
surprising; McKinsey Global Institute
predicts that the impact of IoT on the
global economy might be as high as
$6.2 trillion by 2025.
But change is already happening.
We are already seeing telcos and
carriers looking to roll out commercial
deployments across several verticals
such as commerce and automotive
and throughout this year, IoT is going
to shake up virtually every market.
This will force out antiquated
business models and replace
them with automated and dynamic
methodologies. By 2018, 60 per
cent of Global 1,000 companies
will integrate IoT at the technology,
process, security and organisation
levels to fully realise the value their
investments (IDC). This uptake is
predicted to create zettabytes of Big
Data, creating further opportunities
for businesses.
However, Gartner predicts that
75 per cent of IoT projects will take
up to twice as long as planned, with
product centred enterprises being
the worst affected due to process
and culture change. This, of course,
rings alarm bells and enterprises will
be tempted to make compromises
to reduce this overrun, which could
lead to significant weaknesses in
performance and security.
To add further complexity to the
puzzle, network operations teams
– responsible for managing and
monitoring – also face the dilemma of