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With IoT, analytics is more and more connected to business development

By 30 July 2019 No Comments

With the rise of Internet of Things (IoT), the path to new analytical applications is opening up in many fields

IoT, or the interconnection between technological devices, is transforming many industries – such as industry, distribution, energy or insurance – by providing them with an incredible amount of information about customers and how they consume services and products. However, to fully take these opportunities offered by IoT and analytics, companies must face many technical and organizational challenges.

The first challenge is the announced explosion in the data that companies will have to process. The data generated by IoT devices will not only be delivered in incredible quantities (a study by Ericsson estimates that there will be 18 billion IoT sensors and equipment in 2022 – each of these devices generating data [1]); they will also come in various forms and from very diverse networks, from mobile to fixed devices.

The second challenge is the implementation of effective IoT platforms in companies. More than $1 trillion in additional revenue could be generated by 2025, according to a GSMA Intelligence study [2]. Companies need to think about this implementation with an end-to-end approach, so that future IT structures match their needs and requirements (for example, in cloud computing). In doing so, companies will be able to enable business lines to benefit from Business Intelligence and Data Science tools.

Finally, companies must consider the challenges associated with edge computing: by pre-aggregating the data to simplify and accelerate its processing, this technology leads to partial destruction of the data generated by IoT devices. Ultimately, this leads to a reduction in the accuracy of information from analytical tools.

All these challenges and opportunities are increasingly driving companies to become data driven. To do this, they must provide data access to business lines, so that they can conduct their own analyses without being trained in data science. This transformation must also consider the different analytical tools already implemented in companies. It is therefore as a matter of good practices that true analytic-based strategies can emerge.

Faced with all these challenges, how can companies fulfill the promises of IoT and effectively exploit data through analytics?

Download the white paper “What are the keys to delivering the IoT promise?” here.

[1] Ericsson Mobility Report, Q4 2018
[2] GSMA Intelligence, IoT 10 years on: reflecting on the revenue story, 2019

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