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Monetizing the Internet of Things | @ThingsExpo #AI #IoT #IIoT #SmartCities #DigitalTransformation

'Why incur the expense of generating and collecting all of this IoT data if you’re not going to monetize it?'

“Why incur the expense of generating and collecting all of this IoT data if you’re not going to monetize it?”

Organizations are racing to embrace the Internet of Things (IoT) as the pundits create “visions of sugar-plums dancing in their heads.” McKinsey Global Institute released their study “The Internet of Things: Mapping the Value beyond the Hype” in June 2015 that highlighted the staggering financial value that IoT could create! (See Figure 1.)

Figure 1: Potential Financial Impact of IoT

The folks at Wikibon provided a perspective on the sources of “IoT monetization” in their recent research titled “Harvesting Value at the Edge” written by the always delightful and provocative Neil Raden. To quote the Wikibon research:

IoT, though a useful application of available technology, and well-defined at the hardware and network levels, the heart of IoT, that part that yields the real value, is edge analytics. Making sense of the sensor data before it comes home. We already know how to stream massive amounts of data into data lakes for later analysis, but analytics at the edge begs a different approach.

I didn’t necessarily agree entirely with Neil’s assertion that most of the value would be created at the edge. While it’s true that there are lots of insights at the edge, especially in enabling a new family of operational use cases, most of the insights at the edge are very tactical.

Just as there is a big difference between data and analytics, there is an even more significant difference between insights and action, which is the difference between having insights versus making insights actionable. Insights without action are…well, why bother. Insights are not valuable until they are delivered to a user that can apply those insights to make better decisions. And for the more operational and strategic use cases, those decisions happen at the core and cloud.

There is even more strategic value as you move further back to the core and cloud (see Figure 2).

Figure 2: N-tiered IoT Analytics Architecture

Note: while there seems to be much industry confusion about terminology concerning the IoT analytic tiers, for purposes of this blog I will be using Edge, Core and Cloud to represent the different tiers. This analytics architecture looks like a Neural Network, especially when one considers that there could be multiple layers at the Core or middle tier.

The analytics being performed at the different IoT tiers include:

  • Edge analytics: real-time analytics to monitor device or sensor performance, flag anomalies, and optimize performance of the individual device or sensor. Analytics performed at the edge are event driven, reactive model execution (not model development) with real-time data compression and decision-making
  • Core analytics: distributed, near-time analytics to optimize performance and utilization of cluster of devices or sensors that comprise a larger community such as a wind farm, building, airplane or oil drilling platform. Analytics performed at the core are localized predictions to drive near-time decisions that optimize group performance and yield using data from the clusters of neighboring devices or sensors.
  • Cloud analytics: centralized analytics to optimize more strategic business and operational use cases across all tiers. Cloud analytics create predictive and prescriptive analytic models to support more strategic use cases such as demand planning, capacity planning, predictive maintenance, pricing, asset usage optimization and new product introductions. Analytics performed at the cloud process data from all devices plus integrate external data sources to facilitate analytic model development, refinement and continuous learning.

Adding decision latency – where decision latency is the amount of time required to process the data and take action – across the tiers helps clarify the optimal location of the IoT operational and business use cases. Figure 3 shows sample use cases (and typical data sources) at each of the analytic tiers mapped against the latency of decisions necessary to support those use cases.

Figure 3: IoT Use Cases and Data Sources

Combining the use cases with decision latency guides us in determining what data we are going to need, the latency of those data sources, and what sorts of predictive and prescriptive analytics we are going to need at the different tiers across the IoT analytics architecture.

Creating an IoT Monetization Roadmap
Ultimately, the goal of any IoT initiative should be to couple these new sources of IoT data with advanced analytics to power the business. We can use the Big Data Business Model Maturity Index as a guide to help us to create an IoT Data Monetization Roadmap (see Figure 4).

Figure 4: IoT Monetization Roadmap

For example in the Utilities industry, we can then map the top priority IoT operational and business use cases against the Big Data Business Model Maturity Index to create a use case roadmap that drives the IoT Monetization efforts (see Figure 5).

Figure 5: Utilities IoT Monetization Roadmap

See the blog “Difference between Big Data and Internet of Things” for more details about the unique data and analytic requirements necessary to exploit the IoT monetization opportunities.

Creating an IoT Monetization roadmap should be the top priority for any IoT initiative.  Take the time to identify, validate and prioritize those use cases with the key business stakeholders and constituents to ensure that you are focused on the right use cases in the right order. There is no value in generating and collecting the data if you don’t have a plan for how to monetize that data.

The post Monetizing the Internet of Things (IoT) appeared first on InFocus Blog | Dell EMC Services.


DXWorldEXPO LLC, the producer of the world's most influential technology conferences and trade shows has announced the conference tracks for CloudEXPO | DXWorldEXPO 2018 New York.

DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City.

Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term.

A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throughout enterprises of all sizes.

Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)

Sponsorship Opportunities Here

Speaking Opportunities Here

Sponsorship and Speaking Inquiries: [email protected].

2018 Conference Agenda, Keynotes and 10 Conference Tracks

DXWordEXPO New York 2018 and Cloud Expo New York 2018 agenda present 222 rockstar faculty members, 200 sessions and 22 keynotes and general sessions in 10 distinct conference tracks.

  • Cloud-Native | Serverless
  • DevOpsSummit
  • FinTechEXPO - New York Blockchain Event
  • CloudEXPO - Enterprise Cloud
  • DXWorldEXPO - Digital Transformation (DX)
  • Smart Cities | IoT | IIoT
  • AI | Machine Learning | Cognitive Computing
  • BigData | Analytics
  • The API Enterprise | Mobility | Security
  • Hot Topics | FinTech | WebRTC

Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)

DXWorldEXPO | CloudEXPO 2018 New York cover all of these tools, with the most comprehensive program and with 222 rockstar speakers throughout our industry presenting 22 Keynotes and General Sessions, 200 Breakout Sessions along 10 Tracks, as well as our signature Power Panels. Our Expo Floor brings together the world's leading companies throughout the world of Cloud Computing, DevOps, FinTech, Digital Transformation, and all they entail.

As your enterprise creates a vision and strategy that enables you to create your own unique, long-term success, learning about all the technologies involved is essential. Companies today not only form multi-cloud and hybrid cloud architectures, but create them with built-in cognitive capabilities.

Cloud-Native thinking is now the norm in financial services, manufacturing, telco, healthcare, transportation, energy, media, entertainment, retail and other consumer industries, as well as the public sector.

CloudEXPO is the world's most influential technology event where Cloud Computing was coined over a decade ago and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals.

FinTech Is Now Part of the DXWorldEXPO | CloudEXPO Program!

Financial enterprises in New York City, London, Singapore, and other world financial capitals are embracing a new generation of smart, automated FinTech that eliminates many cumbersome, slow, and expensive intermediate processes from their businesses.

Accordingly, attendees at the upcoming 22nd CloudEXPO | DXWorldEXPO November 11-13, 2018 in New York City will find fresh new content in two new tracks called:

  • FinTechEXPO
  • New York Blockchain Event

which will incorporate FinTech and Blockchain, as well as machine learning, artificial intelligence and deep learning in these two distinct tracks.

Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)

Sponsorship Opportunities Here

Speaking Opportunities Here

Sponsorship and Speaking Inquiries: [email protected].

FinTech brings efficiency as well as the ability to deliver new services and a much improved customer experience throughout the global financial services industry. FinTech is a natural fit with cloud computing, as new services are quickly developed, deployed, and scaled on public, private, and hybrid clouds.

More than US$20 billion in venture capital is being invested in FinTech this year. DXWorldEXPOCloudEXPO are pleased to bring you the latest FinTech developments as an integral part of our program.

DXWorldEXPO | CloudEXPO are accepting speaking submissions for this new track, so please visit Cloud Computing Expo for the latest information or contact us at [email protected]

Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)

Sponsorship Opportunities Here

Speaking Opportunities Here

Sponsorship and Speaking Inquiries: [email protected].

Download Slide Deck ▸ Here

Only DXWorldEXPO | CloudEXPO bring together all this in a single location:

Attend DXWorldEXPO | CloudEXPO. Build your own custom experience. Learn about the world's latest technologies and chart your course to Digital Transformation.

22nd International DXWorldEXPO | CloudEXPO, taking place November 11-13, 2018, in New York City, will feature technical sessions from a rock star conference faculty and the leading industry players in the world.

Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)

Sponsorship Opportunities Here

Speaking Opportunities Here

Sponsorship and Speaking Inquiries: [email protected].

Download Slide Deck: ▸ Here

Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS - software, platform, and infrastructure as a service.

With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.

Every Global 2000 enterprise in the world is now integrating cloud computing in some form into its IT development and operations. Midsize and small businesses are also migrating to the cloud in increasing numbers.

Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)

Sponsorship Opportunities Here

Speaking Opportunities Here

Sponsorship and Speaking Inquiries: [email protected].

Download Slide Deck: ▸ Here

Companies are each developing their unique mix of cloud technologies and services, forming multi-cloud and hybrid cloud architectures and deployments across all major industries. Cloud-driven thinking has become the norm in financial services, manufacturing, telco, healthcare, transportation, energy, media, entertainment, retail and other consumer industries, and the public sector.

Sponsorship Opportunities

DXWorldEXPO | CloudEXPO are the single show where technology buyers and vendors can meet to experience and discus cloud computing and all that it entails. Sponsors of DXWorldEXPO | CloudEXPO will benefit from unmatched branding, profile building and lead generation opportunities through:

  • Featured on-site presentation and ongoing on-demand webcast exposure to a captive audience of industry decision-makers.
  • Showcase exhibition during our new extended dedicated expo hours
  • Breakout Session Priority scheduling for Sponsors that have been guaranteed a 35-minute technical session
  • Online advertising on 4,5 million article pages in SYS-CON's i-Technology Publications
  • Capitalize on our Comprehensive Marketing efforts leading up to the show with print mailings, e-newsletters and extensive online media coverage.
  • Unprecedented PR Coverage: Unmatched editorial coverage on Cloud Computing Journal.
  • Tweetup to over 100,000 plus Twitter followers
  • Press releases sent on major wire services to over 500 industry analysts.

Secrets of Our Most Popular Sponsors and Exhibitors ▸ Here

For more information on sponsorship, exhibit, and keynote opportunities, contact [email protected].

Sponsorship Opportunities Here

Download Slide Deck:Here

Speaking Opportunities

The upcoming 22nd International DXWorldEXPO | CloudEXPO November 11-13, 2018 in New York City, NY announces that its Call For Papers for speaking opportunities is now open.

Secrets of Our Most Popular Faculty Members ▸ Here

Submit your speaking proposal Here or by email [email protected].

Download Slide Deck: ▸ Here

About DXWorldEXPO LLC

DXWorldEXPO LLC is a Lighthouse Point, Florida-based trade show company and the creator of DXWorldEXPODigital Transformation Conference & Expo. The company produces and presents CloudEXPO, DevOpsSummitFinTechEXPO Blockchain Event, the world's most influential conferences and trade shows.

Read the original blog entry...

More Stories By William Schmarzo

Bill Schmarzo, author of “Big Data: Understanding How Data Powers Big Business” and “Big Data MBA: Driving Business Strategies with Data Science”, is responsible for setting strategy and defining the Big Data service offerings for Dell EMC’s Big Data Practice.

As a CTO within Dell EMC’s 2,000+ person consulting organization, he works with organizations to identify where and how to start their big data journeys. He’s written white papers, is an avid blogger and is a frequent speaker on the use of Big Data and data science to power an organization’s key business initiatives. He is a University of San Francisco School of Management (SOM) Executive Fellow where he teaches the “Big Data MBA” course. Bill also just completed a research paper on “Determining The Economic Value of Data”. Onalytica recently ranked Bill as #4 Big Data Influencer worldwide.

Bill has over three decades of experience in data warehousing, BI and analytics. Bill authored the Vision Workshop methodology that links an organization’s strategic business initiatives with their supporting data and analytic requirements. Bill serves on the City of San Jose’s Technology Innovation Board, and on the faculties of The Data Warehouse Institute and Strata.

Previously, Bill was vice president of Analytics at Yahoo where he was responsible for the development of Yahoo’s Advertiser and Website analytics products, including the delivery of “actionable insights” through a holistic user experience. Before that, Bill oversaw the Analytic Applications business unit at Business Objects, including the development, marketing and sales of their industry-defining analytic applications.

Bill holds a Masters Business Administration from University of Iowa and a Bachelor of Science degree in Mathematics, Computer Science and Business Administration from Coe College.

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