The emergence of real-time data in the “ fog ” allows us to write new applications that drive far more intelligent decisions to produce much higher value in real time .
The emergence of real-time data in the “ fog ” allows us to write new applications that drive far more intelligent decisions to produce much higher value in real time .
the possibility of an event being triggered . This allows them to make people , process , or technology changes to reduce the frequency of unwanted events .
Many big data vendors already excel at ingesting and storing data to run deep analytics and machine learning algorithms to gain insights from huge quantities of data . But a new generation of these solutions is emerging to deal with data size and frequency that ’ s growing at a scale we ’ ve never seen before , presenting processing challenges to existing solutions .
Falling into the big data category is a plethora of tools around data visualization , self service reporting / mining , machine learning , and many other functions . Many of the providers have been around for years , but not all of the legacy solutions were built for the scale that IoT demands . Take note , this is a very active space .
Business Value
This category delivers the true value of IoT . When you abstract all the underlying technologies and make it simple to build applications , great value can be derived from being able to react to real-time or near real-time events . This layer of applications and process changes can : 1 ) Save companies millions in preventive maintenance ; 2 ) Increase revenue by optimizing business processes , throughput , and speed to market ; or 3 ) Create new business models and enable a first-mover opportunity .
Smart cities are a great example of how to leverage IoT applications to drive value . Many applications make up a smart city and each one by itself is not transformational . But when a collection of applications is orchestrated together , real business value can be achieved . For example , some cities with traffic issues , leverage a collection of sensors , small data , and big data to detect traffic patterns , derive alternate routes , track parking space vacancies , control traffic lights , and alert passengers with real-time information , so they can make better decisions . It takes process design to bring together all the various technology components in a way that enables intelligent decisions and empowers people with information that generates real business value .
We can apply this to virtually all industries . We ’ ve seen agriculture leverage drones , smart tractors , weather and soil sensing technologies , and a variety of other innovative smart devices . Farmers can then bring all that information together to produce greater crop yields , while reducing watering and fertilizing costs , resulting in greater profitability .
Every industry has a compelling IoT story . We already know how to do cloud computing , big data , and application development . What is new here is the emergence of real-time data in the “ fog ,” which allows us to write new applications that drive far more intelligent decisions to produce much higher value in real time .
Summary
The technologies that make up the Internet of Things have all been around for years . What ’ s new are the improvements in bandwidth and connectivity , coupled with the lower cost of computing thanks to cloud computing and the pay-as-you-go model that gives companies the ability to make better business decisions in real time . Companies that embrace the IoT and bring solutions to market will have a huge leg up on their competition . In some cases , these companies are actually creating new business opportunities and becoming first market movers .
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