Welcome!

@ThingsExpo Authors: Liz McMillan, Yeshim Deniz, Elizabeth White, Pat Romanski, Zakia Bouachraoui

Related Topics: @ThingsExpo, Containers Expo Blog, @DXWorldExpo

@ThingsExpo: Article

IoT Data Analytics | @ThingsExpo #IoT #M2M #IIoT #BigData #Analytics

It is essential for companies to set up their business objectives and identify and prioritize specific IoT use cases

As IoT technologies attempt to live up to their promises to solve real-world problems and deliver consistent value for companies, there is still confusion among businesses on how to collect, store, and analyze a massive amount of IoT data generated from Internet-connected devices, both from industry and consumers, and unlock its value. Many businesses that are looking to collect and analyze IoT data are still unacquainted with the benefits and capabilities the IoT analytics technology offers, or struggle with how to analyze the data to continuously benefit their business in different ways such as cost reduction, improving product and services, safety and efficiency, and enhancing customer experience. Consequently, businesses still have the prospect of creating competitive advantage by mastering complex IoT technology and fully understanding the potential of IoT data analytics capabilities.

The Product Key Features and Factors to Consider in the Selection Process
To help businesses understand the real potential and value of IoT data and IoT analytics across various IoT analytics applications and guide them in the selection process, Camrosh and Ideya Ltd., published a joint report titled IoT Data Analytics Report 2016. The report examines the IoT data analytics landscape and discusses key product features and factors to consider when selecting an IoT analytics tool. Those include:

  1. Data sources (data types and formats analysed by IoT data analytics)
  2. Data preparation process (data quality, data profiling, Master Data Management (MDM), data virtualization and protocols for data collection)
  3. Data processing and storage (key technologies, data warehousing/vertical scale, horizontal data storage and scale, data streaming processing, data latency, cloud computing and query platforms)
  4. Data Analysis (technology and methods, intelligence deployment, types of analytics including descriptive, diagnostic, predictive, prescriptive, geospatial analytics and others)
  5. Data presentation (dashboard, data virtualization, reporting, and data alerts)
  6. Administration Management, Engagement/Action feature, Security and Reliability
  7. Integration and Development tools and customizations.

In addition, the report explains and discusses other key factors impacting the selection process such as scalability and flexibility of data analytics tools, vendor's years in business, vendor's industry focus, product use cases, pricing and key clients and provide a directory and comparison of 47 leading IoT data analytics products.

The Product Key Features and Factors Impacting the Selection Process

IoT vendors and products featured and profiled in the report range from large players, such as Accenture, AGT International, Cisco, IBM Watson, Intel, Microsoft, Oracle, HP Enterprise, PTC, SAP SE, Software AG, Splunk, and Teradata; midsize players, such as Actian, Aeris, Angoss, Bit Stew Systems, Blue Yonder, Datameer, DataStax, Datawatch, mnubo, Mongo DB, Predixion Software, RapidMiner, and Space Time Insight; as well emerging players, such as Bright Wolf, Falkonry, Glassbeam, Keen IO, Measurence, Plat.One, Senswaves, Sight Machine, SpliceMachine, SQLStream, Stemys.io, Tellient, TempoIQ, Vitria Technology, waylay, and X15 Software.

Business Focus of Great Importance
In order to create real business value from the Internet of Things by leveraging IoT data analytics, it is essential for companies to set up their business objectives across the organization and identify and prioritize specific IoT use cases that support each of the organizational functions. Companies need to ask specific questions that need to be addressed (such as "How can we reduce cost?", "How can we predict potential problems in operations before they happen?", "Where and when are those problems most likely to occur?", "How can we make a product smarter and improve customer experience?", etc.) and identify which data and what type of analysis are needed to address these key questions.

For that reason, the report examines use cases of IoT data analytics across a range of business functions such as Marketing, Sales, Customer Services, Operations/Production, Services and Product Development, as well as illustrates use cases across industry verticals including Agriculture, Energy, Utilities, Environment & Public Safety, Healthcare/Medical & Lifestyle, Wearables, Insurance, Manufacturing, Military/Defence & Cyber Security, Oil & Gas, Retail, Public Sector (e.g., Smart Cities), Smart Homes/Smart Buildings, Supply Chain, Telecommunication and Transportation. To help companies get the most from their IoT deployments and select IoT data analytics based on industry specialization, the report addresses use cases for each of the mentioned industry sectors, its benefits, and indicates use cases covered by each of the featured IoT data analytics tools.

Selecting the right IoT analytics tool that fits the specific requirements and use cases of a business is a crucial strategic decision, because once adopted, IoT analytics impacts not only business processes and operations, but also the whole supply chain and people involved by changing the way information is used, and the overall impact it has on the organization. Furthermore, it is evident that companies that invest in IoT with a long-term view and business focus are well positioned to succeed in this fast evolving area.

Building the Right Partnerships - The Key to IoT Success
IoT data analytics vendors have created a broad range of partnerships and built an ecosystem to help businesses design and implement end-to-end IoT solutions. Through the detailed analysis and mapping of the partnerships formed by IoT analytics vendors, the IoT data analytics report shows that nearly all featured IoT analytics vendors reviewed are interconnected to one or more of the sample set, as well as a list of partners from different industries.

The report reveals that the partnerships play a key role in the ecosystem and enable vendors to address specific technology requirements, access market channels, and other aspects of providing services through partnering with enablers in the ecosystem. With the emergence of new use cases and their increasing sophistication, industry domain knowledge will increase in importance.

Partner Ecosystem Map of Featured IoT Analytics Vendors produced in NodeXL

Other factors, such as compatibility with legacy systems, capacity for responsive storage and computation power, as well as multiple analytics techniques and advanced analytics functions are increasingly becoming the norm. Having a good map to find one's way through the dynamic and fast-moving IoT analytics vendors' ecosystem is a good starting point to make better decisions when it comes to joining the IoT revolution and reaping its benefits.

For more information on the report, please see the report excerpts from the IoT Data Analytics Report 2016 that is available on Slideshare.net.

More Stories By Luisa Milic

Luisa Milic, M.Sc. is the Founder and Director of Ideya Business and Marketing Consultancy (http://ideya.eu.com), specialised in providing market research and analysis, business planning and strategic planning. She has 22 years of international experience, working 11 years at KPMG LLP Market Research in the USA and leading the Ideya consultancy in Europe for the past 11 years. In 2004, she joined the vibrant entrepreneurial network in Cambridge, UK to bring her expertise to a broad range of clients across Europe and create a bridge with US companies and expert networks. Luisa works on innovative business and market strategies with clients across industry sectors including manufacturing, retail and consumer goods, education, tourism, and information technology. Her work also includes projects and seminars on usage of various methods for market research/analysis, facilitation of strategic planning workshops and research/advisory support to companies exploring Social Media Monitoring Technologies and IoT Data Analytics.

Through Ideya, Luisa has been involved in preparation of business plans within FP6/FP7 European programmes with a goal to make the project results meaningful from the business perspective and ensure long term benefits of the EU investments. Her engagements include preparation of business plans, formulation of strategies and sustainable business models related to the exploitation and commercialization of their technical and ideological solutions, as well as capacity building initiatives in developing economies focused on strategic planning and business development.

Comments (0)

Share your thoughts on this story.

Add your comment
You must be signed in to add a comment. Sign-in | Register

In accordance with our Comment Policy, we encourage comments that are on topic, relevant and to-the-point. We will remove comments that include profanity, personal attacks, racial slurs, threats of violence, or other inappropriate material that violates our Terms and Conditions, and will block users who make repeated violations. We ask all readers to expect diversity of opinion and to treat one another with dignity and respect.


IoT & Smart Cities Stories
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5–7, 2018, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buye...
Founded in 2000, Chetu Inc. is a global provider of customized software development solutions and IT staff augmentation services for software technology providers. By providing clients with unparalleled niche technology expertise and industry experience, Chetu has become the premiere long-term, back-end software development partner for start-ups, SMBs, and Fortune 500 companies. Chetu is headquartered in Plantation, Florida, with thirteen offices throughout the U.S. and abroad.
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
DXWorldEXPO LLC announced today that All in Mobile, a mobile app development company from Poland, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. All In Mobile is a mobile app development company from Poland. Since 2014, they maintain passion for developing mobile applications for enterprises and startups worldwide.
Nicolas Fierro is CEO of MIMIR Blockchain Solutions. He is a programmer, technologist, and operations dev who has worked with Ethereum and blockchain since 2014. His knowledge in blockchain dates to when he performed dev ops services to the Ethereum Foundation as one the privileged few developers to work with the original core team in Switzerland.
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
DXWorldEXPO LLC announced today that ICOHOLDER named "Media Sponsor" of Miami Blockchain Event by FinTechEXPO. ICOHOLDER gives detailed information and help the community to invest in the trusty projects. Miami Blockchain Event by FinTechEXPO has opened its Call for Papers. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Miami Blockchain Event by FinTechEXPOalso offers sp...
Headquartered in Plainsboro, NJ, Synametrics Technologies has provided IT professionals and computer systems developers since 1997. Based on the success of their initial product offerings (WinSQL and DeltaCopy), the company continues to create and hone innovative products that help its customers get more from their computer applications, databases and infrastructure. To date, over one million users around the world have chosen Synametrics solutions to help power their accelerated business or per...
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...