Menu

IoT FEATURE NEWS

Analytics: Time to Pull Back the Curtain in the IoT

By

Back in my Voice over IP days, we used to make a big deal about billing. The expression we used to say was if you don’t bill for it, the VoIP is just a hobby. While we can make the case that WebRTC is proving that adage wrong, the better place to look at the misguided nature of that statement is in IoT Analytics.

When I look at our readership and conference delegates titles I see three very different sets of decisions makers.

The largest is the operational attendees, which is roughly half of the decision makers. As GE and the Industrial Internet Community have stated, 1 percent gains in efficiency equate to billions in savings. These folks have workflows and processes in mind when they listen to others’ implementations and ask themselves, “could their success be applied to my line of work?”

The easiest way for them to find out is to take advantage of analytics that can take them beyond their existing key service indicators and allow them to see if they can find the equivalent opportunities in the parsing of the process data elements.

Next comes the Information Technology team, which represents about a third of the decision makers. Normally they come from the business intelligence side of IT and they are looking at how to maximize the data to make it actionable.

Once again, Analytics comes into play here, often with the inclusion of unstructured data from peripheral resources to ascertain what predictive data can be applied to prevent work stoppage or other failures. Again: this is about efficiency.

What’s left of the decision makers is about 6 percent right now, but I expect there will be standouts in the other groups that belong to this fringe of people looking to make their IoT implementations into services.

Here, analytics start to make the old adage about billing look okay because this crowd is looking at the services that the things can provide. Analytics then is an indication of which operational processes can be changed into recurring services like maintenance, supply and logistics management, or operational support.

The indication is that we may think IoT decision makers are wizards, but it’s the analytics that drive the decisions when we pull back the curtain.




Edited by Ken Briodagh

Partner, Crossfire Media

SHARE THIS ARTICLE
Related Articles

The Promise of IoT: Unlimited Actionable Data

By: Erik Linask    5/25/2022

The promise of IoT is to be able to use anything and everything as a source of data, bring it together and turn it into actionable results .

Read More

How Are Executives Reacting to Supply Chain Challenges?

By: Greg Tavarez    5/25/2022

Blue Yonder's "2022 Supply Chain and Logistics Executive Survey" found 88% of businesses faced supply chain disruption over the last year.

Read More

KORE Opens New Facility to Support Growth of Managed IoT Business

By: Greg Tavarez    5/25/2022

KORE's new Pittsford location will be vital to the growth of KORE's IoT managed services, especially in the connected health industry, a growing IoT i…

Read More

Kajeet Launches Cloud-based Data Analytics Platform

By: Greg Tavarez    5/24/2022

Sentinel Insights will provide real-time data, alerts and visualization capabilities that transform customer data into actionable intelligence.

Read More

IoE Industry Continues to Surge

By: Greg Tavarez    5/23/2022

The global IoE industry is expected to reach $4,205.50 billion by 2030, witnessing a 16.5% compound annual growth rate from 2021 to 2030, according to…

Read More