IoT is quickly becoming the “Internet of everything.” Gartner projects there will be 20 billion “things” connected to the internet by 2020 and these next-generation devices are starting to enter the business world with the expectation of powering smarter business processes across the board.
The obstacle, however, is that there currently aren’t standards for IoT technology, leaving decision-makers with the task of understanding how to leverage these complex devices (and the data they create) to solve their unique challenges. Adding another layer to this hefty task, many companies still struggle with data analysis at the most foundational level. With IoT devices generating all new streams of data, not having the basics of analytics nailed down will cause major setbacks for organizations.
To effectively prepare for the imminent IoT revolution, executive teams across organizations — from IT to marketing — must hone their current data analysis processes. Here’s how businesses can get smarter about their data strategies and make the best use of the information at their fingertips.
Looking at Data Holistically to Extract Smarter Insights
The biggest winners in the age of IoT will be those businesses that can take data-driven actions. Business leaders must lay the groundwork now, implementing technologies that collect, correlate and derive actionable insights from the vast amounts of information already available to them. If organizations don’t make this a top priority today, it is sure to cause a world of frustration down the line when IoT is part of their IT ecosystems.
The key to getting started is in deploying holistic solutions that don’t just visualize data, but truly analyze trends and glean concrete next steps. Delving into everything from customer data (including behavioral and contextual information) to business performance, executive teams can extract smart insights that could completely alter how a business operates.
Keeping Data Secure Through the Process
One of the biggest business concerns today is cybersecurity — and when exploring data strategies, it’d be remiss to not discuss the importance of protecting all information analyzed. Whether dealing with internal or external data, businesses must ensure they’re filtering everything through systems that incorporate secure technologies — from developing a secure network, to maintaining a vulnerability management program, to implementing strong access control measures.
Building a Data Strategy That Can Evolve with the Business
The business and technology worlds will only continue to evolve and advance. Just look at the current wave of IoT and artificial intelligence solutions entering the market. To keep up with these shifts, businesses need to develop a flexible data strategy that can roll with the punches — so they don’t get knocked out in the process.
By utilizing a solution that hosts information from both client and server side in one centrally-managed view, business leaders will have access to the critical information they need to continually improve performance. On top of this, a holistic data system will allow the organization as a whole to make incremental changes that align with their evolving needs and goals.
IoT innovations will no doubt create new data resources for businesses. Before connected devices fully take over, business leaders must prioritize building a strong foundation for data analysis.
About the Author
Paul Silevitch, VP of Engineering, SiteSpect. Paul oversees development, quality assurance and platform operations, ensuring that SiteSpect solutions meet the needs of customers and maintain leading edge in optimization and testing. Prior to joining SiteSpect, Paul was responsible for development at the Tufts University Sciences Knowledgebase (TUSK) project. Prior to TUSK, Paul built and maintained a web-based email system for Jenzabar which was used by multiple schools for their student email.
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