Tech Pro Research recently conducted a survey on the power of big data and the internet of things (IoT). The survey examined how IoT is working alongside big data and how it is being used to collect data, where it is coming into play, what benefits it can bring, and what it means for the future of business operations. We looked at the internal and external benefits of IoT data collection and where it has delivered on its promise - or perhaps come up short.
The term "internet of things" is used to describe the new landscape of internet-connected objects and processes such as electronics, HVAC systems, applications and web services that are beginning to permeate our environment. Even buildings are part of IoT, since all of these items contain sensors or the capability to either record data, or transmit data, or both. Experts predicted that IoT will undergo a massive boom in the near future.
IoT can deliver a wide range of technological functions, with opportunities in the cloud, security, capacity, growth, environmental and consumer-based device segments.
IoT ties in with big data, which TechRepublic has defined as the "massive amount of rapidly moving and freely available data that potentially serves a valuable and unique need in the marketplace, but is extremely expensive and difficult to mine by traditional means," because IoT offers flexibility.
Through its flexibility, IoT can fill in where these mining difficulties exist. As it spreads across almost all industries, it will trigger a massive influx of big data and spawn new methods for harvesting, analyzing and using this information.
Who's implementing big data?
The report shows that 30% of respondents indicated they had undergone a big data project. This follows along with a report Tech Pro Research conducted in late 2013, where 20% of respondents indicated they had implemented big data and another 26% stated they intended to do so. Our latest results show that the concept has advanced into greater use.
Which industry segments have gravitated towards big data?
Manufacturing, Logistics and Transport, and IT and Technology were the most likely industry segments to report implementing, or planning to implement, big data. Conversely, Healthcare, Education and Business Services and Consulting were the least likely to do so.
Which organizations were using IoT devices for big data collection?
Tech Pro Research found that 29% said they were using IoT and another 26% said they will be starting in the next 12 months. We drilled down into specific industries, and discovered that Logistics and Transport, Manufacturing, and IT and Technology were the industries most likely to have already implemented the collection of IoT data.
Why some companies aren't using big data and IoT, and what they're doing with the data they collect. The results were fascinating, and we'd love to share them with you in our report. Suffice it to say, matching IoT with big data is benefiting organizations by helping them see what's coming, spotting potential risks and making better informed decisions. IoT and big data are building a solid track record among those who take the plunge.
Teena Maddox is a Senior Writer at TechRepublic, covering hardware devices, IoT, smart cities and wearables. She ties together the style and substance of tech. Teena has spent 20-plus years writing business and features for publications including People, W and Women's Wear Daily.