- Aug 13, 2019
- May 28, 2019
echnology adoption and the increasing usage of internet over the last few years has significantly amplified the need for a rapid pace of innovation, which has forced enterprises and specially the CIOs to increase their investments in capital and operating expenditure in order to scale up the existing infrastructure. One such investment area is in the adoption of IoT for business acceleration.
Gartner predicts that by 2020, more than half of major new business processes and systems will incorporate some element of IoT in their organisations. With the increasing demand and requirement of IoT in the industry, the CIOs will have a bigger role to play in 2018 and beyond.
IoT data control is a key way that companies can maximize the value of their Internet of Things deployments. It allows companies to mine the data that IoT devices generate and monetize the information.
The growth and development in Big Data and analytics has impacted the way businesses are led. The Industrial IoT solutions are generating significant amounts of data even in limited pilots and deployments. Organizations are coming up with data processing footprint at the edge and also at the enterprise level to manage this data explosion and use the right data at the right place for the right decision. In the past one year, many companies have moved to a data driven business approach, emphasizing on the need for business agility with the help of big data analytics capabilities.
Among the constructive purposes to which IoT Big Data can be put is in ensuring cleaner air in urban environments. With the arrival of a new generation of lower-cost sensors, the air can now be tested several times a minute, in a cost-effective way, for delivery to a connected analytics solution. This creates an opportunity for operators to offer air pollution monitoring and control services that deliver dynamic, local information to civic authorities, and was a core focus of the session yesterday.
A rich array of possibilities for IoT Big Data exists beyond air quality monitoring, much of it more straightforwardly commercial. Korea Telecom offer a range of agricultural use cases, allowing better management of food temperature monitoring and livestock logistics. “We share cultivation data, order and delivery data, warehouse management data, retail data, and more among all our stakeholders – through this sharing system we improve business efficiency, market intelligence and food safety,” explained Denny Kim, Senior Researcher at Korea Telecom.
Operators are increasingly able to move into, and consolidate their position within, various adjacent sectors to which previously they may have played little or no direct role. The reason for this is ultimately quite simple: we live in an information-hungry, data-driven age. “Enterprises face stiffer and stiffer competition online,” explained Alistair McLeod, CEO at Teralytics. “They come to us to enhance their business propositions and keep themselves competitive. Investments only make sense these days if they have great data to back them up. We’re big fans of telco data because it’s not biased – telco data includes everybody, it doesn’t discriminate, so there are far fewer problems around selection bias.”
There are understandable anxieties among some consumers over the uses to which their data is put – as reports emerge periodically of escalating rates of identity theft, people are increasingly insistent that their personal information be protected. It is essential to the viability of IoT Big Data as a mechanism for business that consumers are confident that, while insights may be drawn from their behaviour collectively, those insights cannot be tied to their individual identities. There was agreement throughout the room that the importance of this is beyond question – we at the GSMA, therefore, believe there is cause for optimism in the future of IoT Big Data as an engine for social and economic good, as well as an enabler of IoT delivery among operators.
IoT analytics will be the key mechanism for controlling this flood of data. CIOs will have to deal with the challenge of how to organize and process this and carry the same over the network in an optimal manner.