Ways of Dealing with the IoT Data

Organisations, big or small, are investing in data management solutions. IoT is no longer a far-fetched dream, it has become the reality. Or should we say “virtual reality’? The electronic punching machine at your office is a very basic application of the Internet of Things. About 20.8 Billion devices will occupy the IoT market by 2020. Not only will these devices enhance the lifestyle of the common folks, but will also affect the ways in which businesses and corporations will operate. The expected boom suggests that the entire business world will undergo a massive transformation with IoT tending to have a multi-dimensional effect on them.

The proliferation of IoT devices will result in the generation of an overwhelming amount of data. We are still not aware of the number of applications this data will have, nor do we have any idea what kind of associated risks it will bring. The ways in which IoT will influence the business processes and strategy of the corporations are yet to be explored. The advancements in this technology have opened a completely new chapter of unknown possibilities and potential capabilities of the Internet of Things.

In order to obtain the value that this tremendous amount of data is supposed to provide, there is a need to identify crucial data and extract some sense out of all the unstructured data information.

Take the unconventional path

Organisations are required to quit thinking the old way. Many of them consider IoT as just another development to the existing technology due to which they err to see the kind of future it has to offer. IoT might have the capability to completely change the way we use a certain product. Organisations should be open-minded while contemplating about the possibilities of IoT if they want to exploit its full potential.

Determine the strategy for application

To make sure that it aligns with the business expertise of their company, management should devise a strategy to make the optimum use of the IoT data. They need to decide whether this data will be utilized for programmed processes or enterprise logistics in order to make a judgement about the persistent data lakes or service-oriented architectures.

Integrating Spark and Kaka in their IT infrastructure will become important.

Understanding its real value

The IoT data will offer a technical and advanced understanding of the human world. It has a potential to completely transform the entire business realm. But if companies stay ignorant of its capabilities like they have with the big data, rather than exploring new dimensions and opportunities, they would end up making inadequate excel sheets.

Broaden Your Horizon

By following the old train of thought, companies might oversight the prospective opportunities for businesses that IoT will offer. By applying analytical tools to this data, it is possible to strategise a cost-effective and revenue-generating model. But if companies continue to work in silos, they will not be able to monetize the potential that IoT data provides.

Need of Proper Evaluation

Even the tiniest bit of information may prove to be of critical value. Companies need to consider each and every way in which they can profit from the IoT devices. Not only the advantages that IoT offers to the organizations or their customers, the benefits provided to any third party should also be taken into the account. Underestimating the value of even the smallest amount of data may cause severe loss.

Segregating and retaining sensible data

Which data to retain and which to discard will be the most difficult question to answer. Most of the data is only valuable for real-time processing which becomes worthless after a certain point of time. When does a critical piece of information become invaluable, that will be hard to determine. However, storage of data is crucial for auditing purposes where governance plays the key role. Even after a data become useless for deriving any valuable interest, it will remain interesting for the legal department.

Select the place where analytics will occur

Whether the data analysis will take place at the edge or at the core, that will depend on a variety of factors like the company, potential risks and value, sensitivity to latency and the data among others.

The data which can be scrutinized without requiring too much of context or history from the other devices should be analysed on the edge, and those requiring history and correlation among different devices should be analysed centrally.

Assess the associated risks carefully

Since a major portion of the IoT data applications is still to be explored, which data should be stored and for how long remains a huge challenge for the IT professionals. Though, they view this stored data as a hidden asset but investing time and money into something which might prove useless in the future doesn’t seem right. As the costs for processing, bandwidth and storage continue to fall, the scalability of data lakes will increase. And with this enormous amount of data, comes great risks related to security issues.

Step into the shoes of a Hacker

The Internet of Things is filled with danger. Every new wireless device faces the threat of being hacked. In IoT security the number of radio frequencies and signal standards is way more than in the mobile security. Organisations need to consider the effects the IoT will have on their existing infrastructure and security. This existing IT infrastructure will decide which security standards are relevant for the organization.

Don’t underestimate potential threats

In order to minimize the risks of likely data theft, legal exposure and defamation, there is a need to take preemptive measures by the companies. IoT devices are not entirely a new technology, but they still lack a proper security structure. It becomes difficult to monitor them since they are not guarded by the conventional security tools. In case a breach occurs, the harm will not restrict to data loss only. It will give cyber attackers the power to create mayhem and even cause physical damages.

Watch every step

It is crucial to maintain necessary standards for protecting itself from any kind of security breaches. However, it is equally important for organisations to decide how the IoT data will be used and to align their privacy policies accordingly.

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