With over 70 percent of Enterprise Management Associates (EMA) respondents in 2016’s IoT survey stating that IoT is an essential or important part of their organization’s business strategies, leveraging devices for analytics needs to be a consideration for businesses looking to remain competitive. The reality is that organizations are no longer looking at IoT as a nice to have or potential future initiative. Organizations are adopting IoT as an essential component of their analytics strategies and to support broader information visibility.
Companies identify the increase of product or service quality, better customer satisfaction, and operational cost reduction as top drivers to IoT adoption. Organizations are learning that IoT provides additional insight into operations and helps businesses provide better products and services. IoT supports supply chain efficiencies, takes a proactive approach to quality concerns, and provides supplemental data for better overall customer experience. Even with these benefits, some organizations still struggle with the ability to gain business value from IoT adoption.
This requires organizations to consider how they can leverage IoT in a way that provides value. Overall, 14.4 percent of EMA respondents stated they are using IoT to facilitate discovery of new operational processes, such as enhancing manufacturing quality. It is interesting to see that IoT supports daily operations in many industries and complements the use of analytics.
As organizations continue to struggle with data complexities that exist, it becomes more important to ensure the right data is being analyzed. A lot of this data will be IoT-specific or support the requirements for IoT moving forward. For instance, smart meters for more efficient use of energy, assembly line devices to proactively provide quality control, and medical devices to maintain patient health are just some of the areas that require IoT data to get the right insights. This includes managing health and developing better efficiencies that can no longer be managed effectively without IoT related data.
Overall, companies are starting to leverage IoT data within their analytics environments to ensure they can manage data, performance, and processes using a more proactive approach. At the same time, IoT provides a more complete picture by combining operational monitoring with analytical insight.
EMA recently published a report discussing their key observations and perspective on GigaSpaces InsightEdge. The short impact brief explains how InsightEdge provides organizations with the ability to leverage Spark workloads to enable real-time analytics.
If you found this interesting, you’ll probably enjoy our recent IoT blog series.