Article | January 21, 2021
The Internet of Things has been the hype in the past few years. It is set to play an important role in industries. Not only businesses but also consumers attempt to follow developments that come with the connected devices. Smart meters, sensors, and manufacturing equipment all can remodel the working system of companies.
Based on the Statista reports, the IoT market value of 248 billion US dollars in 2020 is expected to reach a worth of 1.6 Trillion USD by 2025. The global market is in the support of IoT development and its power to bring economic growth. But, the success of IoT without the integration of data analytics is impossible. This major growth component of IoT is the blend of IoT and Big Data - together known as IoT Data Analytics.
Understanding IoT Data Analytics
IoT Data Analytics is the analysis of large volumes of data that has been gathered from connected devices. As IoT devices generate a lot of data even in the shortest period, it becomes complex to analyze the enormous data volumes. Besides, the IoT data is quite similar to big data but has a major difference in their size and number of sources. To overcome the difficulty in IoT data integration, IoT data analytics is the best solution. With this combination, the process of data analysis becomes cost-effective, easier, and rapid.
Why Data Analytics and IoT Will Be Indispensable?
Data analytics is an important part of the success of IoT investments or applications. IoT along with Data analytics will allow businesses to make efficient use of datasets. How?
Let’s get into it!
Using data analytics in IoT investments businesses will become able to gain insight into customer behavior. It will lead to the crafting offers and services accordingly. As a result, companies will see a hike in their profits and revenue.
The vast amount of data sets that are being used by IoT applications needs to be organized and analyzed to obtain patterns. It can easily be achieved by using IoT analytics software.
In an era full of IoT devices and applications, the competition has also increased. You can gain a competitive advantage by hire developers that can help with the IoT analytics implementations. It will assist businesses in providing better services and stand out from the competition.
Now the next question arises: Where is it being implemented? Companies like Amazon, Microsoft, Siemens, VMware, and Huawei are using IoT data analytics for product usage analysis, sensor data analysis, camera data analysis, improved equipment maintenance, and optimizing operations.
The Rise of IoT Data Analytics
With the help of IoT Data Analytics, companies are ready to achieve more information that can be used to improve their overall performance and revenue. Although it has not reached every corner of the market yet, it is still being used for making the workplace more efficient and safe.
The ability to analyze and predict data in real-time is definitely a game-changer for companies that need all of their equipment to work efficiently all the time. It is continuously growing to provide insights that were never possible before.
Article | April 6, 2020
Today when we look around, we see how technology has revolutionized our world. It has created amazing elements and resources, putting useful intelligence at our fingertips. With all of these revolutions, technology has also made our lives easier, faster, digital and fun. Perhaps at a point when we are talking about technology, Machine learning and artificial intelligence are increasingly popular buzzwords used in modern terms.Machine Learning has proven to be one of the game changer technological advancements of the past decade. In the increasingly competitive corporate world, Machine learning is enabling companies to fast-track digital transformation and move into an age of automation. Some might even argue that AI/ML is required to stay relevant in some verticals, such as digital payments and fraud detection in banking or product recommendations.To understand what machine learning is, it is important to know the concepts of artificial intelligence (AI). It is defined as a program that exhibits cognitive ability similar to that of a human being. Making computers think like humans and solve problems the way we do is one of the main tenets of artificial intelligence.
Article | March 12, 2020
Homeless policy needs to join the big data revolution. A data tsunami is transforming our world. Ninety percent of existing data was created in the last two years, and Silicon Valley is leveraging it with powerful analytics to create self-driving cars and to revolutionize business decision-making in ways that drive innovation and efficiency.Unfortunately, this revolution has yet to help the homeless. It is not due to a lack of data. Sacramento alone maintains data on half a million service interactions with more than 65,000 homeless individuals. California is considering integrating the data from its 44 continuums of care to create a richer pool of data. Additionally, researchers are uncovering troves of relevant information in educational and social service databases.These data, however, are only useful if they are aggressively mined for insights, looking for problems to solve and successful practices to replicate. At that juncture California falls short.
Article | April 13, 2020
There’s a lot of information out there related to COVID-19. But right now—when it’s more important than ever to quickly access and analyze data —figuring out how to effectively use COVID-19 data to better manage your business can still be a challenge. We can help. Several customers have leveraged their Incorta platforms to instantaneously integrate COVID-19 data into their enterprise data and analytics dashboards.