What will IoT Technology Mean to Analytics?

Internet of Things can deepen statistical models but most enterprises are still not ready for it. Big data experts claim that IoT can prove to be a boon to analytics as it acts as a major data source to analytics. Internet of Things can assemble data from a lot of sources and help develop better analytical models. According to Garnter, IoT adoption will grow to 26 million by 2020. Many data scientists are looking forward to see how IoT can diversify data sources and enable analytics that can be applied to new areas including sensors, monitoring and manufacturing devices.

Internet of things is affecting analytics in many ways and we are expecting a lot more in the future. However, to make the most of IoT for analytics, enterprises need to keep the following factors in mind:

1. Data collection with a purpose

It is important that businesses offer choices to customers regarding their data. They should be able to decide when and how their data can be collected. Most data collected by enterprises does not hold much importance. Such purposeless data handling can be frustrating for analytics. IoT can help enterprises to collect information that can help them to develop more customized services as per customer’s needs.

2. IoT will help enterprises make personal customer connections

Once the data is collected, analyzed and processed, it should be presented back to the consumer. The data representation should be meaningful to the consumer and must add value to the product experience as well. Customized information can improve a consumer’s experience by manifolds.

3. Manipulating data for time-saving conveniences

Nowadays, enterprises are trying to find various ways to connect devices so that they can deliver a better and convenient user experience. Connecting various devices can make life easier but it can also lead to a lot of complications as well. Manufacturers need to find out ways how they can connect devices together for a better user experience. Enterprises need to ponder how well they can collect data and fuel a commercial revolution through Internet of Things. Data should be purposefully collected, analyzed, predicted and then automated for the ultimate convenience.

4. Improving the end user experience

Enterprises need to crunch their data and numbers, if they wish to predict what the customer needs. Data and analytics depend upon people to analyze and interpret the data. In order to take a relevant action upon the data, they need to look for variations and patterns.

Data can in fact be used for fueling the Commerce of Things which will enable interrelated objects to undertake commercial transactions by themselves. This is seen as the next step in the evolution of Internet of Things. For more information about IoT services, Big data and analytics, visit our website: breeze-telecom.com

Summary — Internet of things is affecting current analytics in enterprises in a big way. IoT can fuel purposeful data collection that will eventually lead to better user experience.