The IoT will Give us the Big Data of The Future

In the article Big Data Analytics: The Force Behind the Next Internet of Things Wave, the author delves into how the cutting edge of the IoT is giving us the Big Data that will shape our future.  With more devises in more place, more data is being collected and thus more data must be analyzed.  The true value in this Big Data is our ability to make sense of it consequently create value.  The author examines a number of case where cutting edge sensors are allowing the IoTs to collect data that drives increased performance, predictive ability, and cost savings.

One of the first places the IoTs really took off was in our own homes.  Smart devices collecting data from meters, data on demographics, and data on energy consumption have helped customers save energy and money.  One smart meter company actually saved its customers over $500 million in energy spending.  With data analytics, forward-thinking energy management companies are able to run analyses on consumer thermostat data to better understand energy usage patterns.

Another case presented is that of an energy company using sensors in its oil and gas wells. The company collected data about the average production of oil, gas, and water from each of its wells.  It combined it with historical well performance and geospatial data to look at efficiencies and deficiencies based on location and equipment.  Based on the combination of this data and the sharing of this data with its operations, the company experienced 126 million per year in incremental revenue.

 

What are everyones thoughts on when we will begin to be fully connected, that is, when almost every device and thing we use is connected to each other?

Do you think we are collecting too much data?

As a customer, at what point do you believe collecting your data is an infringement on your privacy?  Is there any real way to track such invasions of privacy?

http://www.datameer.com/company/datameer-blog/big-data-analytics-the-force-behind-the-next-internet-of-things-wave/

A Structured Usage of Big Data Adds Big Value

In the article Overcoming Challenges To Make Big Data Profitable, the author goes over the immensity of the data collected every day and begins to break down how to analyze it and how to monetize it.  Big data analytics, though exciting, will become most useful when it adds monetary value to a business or individual.

Big data comes from a Machine 2 Machine (M2M), Internet of Things (IoT), Mobile, Cloud, Data storage and networks.  Because the amount of Big Data is so vast, the author has broken down the analysis of such into 5 V’s: value, velocity & veracity, volume, and variety.  Variety encompasses structured and unstructured data, volume is the actual memory amount of data, velocity is the speed of processing while veracity is the uncertainty vs the reliability of the data, and finally value is how the data becomes profitable.  Once can see that big data analytics, and its uses to create ecosystems, is becoming more complex every moment of everyday.

The key is to make the data manageable and able to be monetized.  The three silos that need to be connected to be able to monetize big data and thus create the ecosystems of the future are business, technology and regulatory.  On the business side, the big data analytics need to constantly be utilized to make sure it’s working and who it’s working for.  This utilization leads to accurate forecasting.  The technology side involves a competent and cutting edge workforce that is able to work in a multi-system, yet simple, infrastructure.  The technology at work creates the ecosystem for the future.  Lastly, regulatory requirements are constantly changing and the use, storage, and collection of certain types of data needs to be monitored.  As a business, working within the means of the law is a must.

In conclusion, big data and the analytics of it present big challenges.  Overcoming these challenges means analyzing the data correctly and efficiently while bridging the gaps between the three silos of business, technology, and regulatory.  With a plan in place, big data can lead to big money.

 

 

Have we already started collecting too much Big Data?

What new laws could come about as more and more data is collected?  Is the collection of some customer’s personal data with regard to habits legal?  Ethical?

Will there come a point where businesses rely too much on Big Data, thus negating the human elements of business?

http://www.excelacom.com/resources/blog/overcoming-challenges-to-make-big-data-profitable

One Smart Ecosystem: Using the IoT and Big Data Analytics

 

One Smart Ecosystem: Using the IoT and Big Data Analytics

In the article The Shape of Things to Come: IoT and Big Data, the author examines how smart ecosystems are being created and the prospect of IoT intercompatiblity issues.  As the IoT becomes more popular and mainstream, it is being touted as a life-changing interactive environment.  The connection of everything we do, and the collection of data from devices as we do it, is supposed to simply our lives.  Furthermore, this collection of data could even begin to predict our next moves and save us time in the process.  These conclusions based on the aggregate of data is the essence of Big Data.

The issues begin to arise when one philosophically thinks of Big Data.  Big Data, and the analyzation of this data, is only working in the past, or at best, the immediate present.  Additionally, using Big Data to predict the future relies on the heavy assumption that the future will mirror the past.  One cannot help but wonder, is this assumption valid?  No matter how one views the scope of utility of Big Data Analytics, companies like Netflix have already began to use it.  The issue of quality of data, based on amount of sensors and what the sensors are actually recording, further complicates the usage of Big Data.

Finally, the author brings up a very interesting point.  The creation of smart ecosystems based on the IoT and the Big Data collected has immense potential but only if there is only one compatible system.  What if there were multiple IoT that were not compatible with each other?  The data collected would be useless across systems thus creating no value whatsoever.  Thankfully, there is already movements in the technology industry to create unity of the IoT.  As the author quoted Sparks founder in the article, “Today, there aren’t enough things on the market to worry about intercompatibility, but there will be five years from now.”

 

Even with companies beginning to attempt to unify the IoTs, do you believe intercompatiblity will still be an issue?

How good will the predictive ability of Big Data get?

Supposing the IoT and the Big Data collected becomes so good at predicting our needs, what happens to our basic instincts?

 

http://unfiltered.groupsjr.com/the-shape-of-things-to-come-iot-and-big-data/

IoT- 101

“Internet of things” or IoT is one of those buzzwords that everyone keeps talking about but hardly anybody truly understands what it is. We at DCMME decided it was time for us to demystify IoT.

What’s IoT?– The IoT is a giant network of connected “things”. Simply put, this is the concept of basically connecting any device with an on and off switch to the Internet (and/or to each other). Some common examples of IoT devices include the Amazon Echo, Smart Watch, Nest Learning Thermostat and the Philips Hue-Smart Home Lighting.

Why IoT?- Say for example you bought some meat from your nearby grocery on Sunday. The next day the batch of meat that you bought was recalled by the manufacturer. What if your refrigerator sends you a text that you need to throw out that piece of meat? What if the refrigerator knew when it was running low on supplies and automatically re-ordered more? What if the wearable device you used in the workplace could tell you when and where you were most active and productive and shared that information with other devices that you used while working? On a broader scale, the IoT can be applied to things like transportation networks: “smart cities”.

This is part of a series of articles on Internet of Things.

Source- http://www.forbes.com/sites/jacobmorgan/2014/05/13/simple-explanation-internet-things-that-anyone-can-understand/

Drones: Shaping the Internet of Things

In a recent article on the website sUAS News, the potential for drones as the driving force for the internet of things is highlighted. The internet of things (IoT) is based on the central idea that devices and humans can talk to one another and relay and report information. This is done primarily through sensors “at rest” that gather information and relay it to a back end data collection center which can then be interpreted for the end user. This simple idea is quickly being incorporated to drones which are capable of a myriad of functions and provide a highly mobile component. As drones become more complex, being able to integrate them into our everyday functions and processes is becoming an increasing trend. How will unmanned drones shape the IoT? What are some of the benefits of the mobile function that drones can provide to the IoT? What types of industries will most benefit from this technology?

The Internet of Things: The impact on the Travel and Hotel Industry

By: Alan E. Young, President of Puzzle Partner Ltd.

Mr. Alan drives his article highlighting how the hospitality industry can benefit from the increasing number of devices connected to the internet. These are not only phones, but also suitcases and even the little cooler inside the guest’s room. Billing is way much easier in the hotel business as well as the inventory control that is so critical. Take as an example a restaurant. FDA has really tight requirements for the food and beverage control. One of the most important requirements is the temperature at which food is preserved. With the IoT, managers can use smart thermostats that measure and adjust the temperature thus reducing waste. There are also improvements in the security field with NFC devices allowing guests self-checking.

Article: http://www.hospitalitynet.org/news/4071511.html

Smart Manufacturing: A Path to profitable Growth

An article in Business (May 21, 2015) titled “Smart Manufacturing: A Path to profitable Growth” (http://www.huffingtonpost.com/brian-kennell/smart-manufacturing-a-pat_b_7314828.html) describes the benefits and capital costs involved in implementing Smart Manufacturing in the company’s operations. Analyzing the valuable data provided by the interconnected systems triggers innovation, productivity and safety in the organizations’ supply chain. Smart technologies help eliminate waste through better scheduling and coordinating the internal processes. Nevertheless, according to the 2014 Manufacturing Outlook Survey by the American Society for Quality (ASQ), 87% of US companies are not using smart manufacturing, but among those companies that are at least partially using the smart technology, 82% reported increased efficiency. One of the main constraints to implement the latest Internet of things is the high capital equipment costs. Will the government or industrial organizations evaluate alternatives to financially supporting the implementation of Smart Manufacturing?