Everyone seems to be excited about the Internet of Things (IoT). To be clear, most of the excitement is certainly justified. After all, the IoT could be one of those technological phenomena that truly transforms our way of life. Some of those changes are already happening, though it may be a case of things occurring under the radar. Big data, for example, is already being employed by various organizations in a such a way that mirrors what the IoT will bring in the not too distant future. In fact, the IoT looks to take what weve seen with big data analytics and push it forward at a tremendous pace, effectively taking it to the next level. All that weve seen so far is a mere taste compared to the effect the Internet of Things will have on big data as a whole.
While big data may not be a new thing, many companies are still trying to get the hang of it. Big data challenges are plentiful, and while many have been solved with new advances in technology and the right tools, more seem to be cropping up all the time. Part of the difficulty is the large amount of data thats being generated all the time. Whether its structured or unstructured data, businesses at times struggle to properly collect, organize, and analyze it. Put simply, its a monumental task, and any organization hoping for the job to get easier is likely in for an unpleasant truth; as the Internet of Things goes from concept to reality, the amount of data in question is only going to get larger. Much larger.
Consider just how many devices and objects will be connected to the internet in the world of the IoT. While estimates can vary, most seem to point to tens of billions of such devices by the end of the decade. All that means is an explosion of data the likes of which is a bit difficult to comprehend. One prediction from IDC pins the amount of digital data by 2020 to be 44 trillion GB. All of that could lead to trillions of dollars in benefits for the whole economy. It truly is a mind-blowing statistic. But the overall impact wont just be in terms of the increase in big data available, its how that big data will be used.
Right now, most businesses try to base their decisions off of the data they collect and analyze. Having more information to analyze will lead to organizations making more informed decisions. The number of ways this can be applied to a typical businesses is almost unlimited. In some cases, more data will lead to more informed marketing strategies, allowing companies to more accurately target certain audiences for improved response rates. Financial institutions could use data analytics to detect fraud more quickly and prevent damages from spreading. Hospitals and clinics can use increased amounts of data for more accurate patient diagnoses and finding ways to improve treatments. The IoT only aids in getting that important information to the right people to be used in the right way.
Some experts are even going beyond simply calling this the next level of big data. They refer to this boosted level as IoT data since it is so closely tied together with the Internet of Things. This use of big data also opens up some intriguing possibilities regarding the use of automated machinery. In fact, big datas improved use with the Industrial Internet of Things is one item that is often overlooked but could still play a pivotal role behind the scenes. If theres one thing to take away from the impact of the IoT on big data, its that the Internet of Things helps big data be used to optimize all the operations its involved with, whether they be for factories, offices, transportation, or whatever area people can think of.
Big data already plays a major role in our lives. With the rise of the IoT, that influence will only grow as the Internet of Things generates more data than ever before. Were living on the cusp of a digital revolution the likes we havent seen since the internet first came into our lives. Its only a matter of time before digital data becomes a component in nearly everything we do.
