Internet-of-Things (IoT) is the outcome of recent digital revolution and global enterprises today are keenly looking to bring in and transform the way they run their businesses, says Ravi Namboori, Director of Architecture at Equinix.
Sensors are easily available at economical prices today and can be embedded in to almost any kind of devices resulted in driving more number of enterprises towards using sensors to the larger extent in various applications areas. These sensors collect the customer interest/feedback data from retail outlet or equipment performance data from remote industrial site which can be stored in big data databases in on-premise datacenter or in cloud environment.
Gartner expects that there will be 6.4 billion devices connected to internet by 2016 which is 30% more than the current figure in 2015.
Rapidly growing IoT prominence is grabbing the attention of many global business owners and more enterprises regardless of industry sector are embracing IoT to and add significant business value.
With IoT playing crucial role in business critical operations, companies experience reduced operating costs and revenue growth associated with better understanding of customer preferences and market dynamics.
Growing number of IoT devices in different fields of work leading to huge amount of data deluging in to existing data storages or a cloud environment. With large amount of data flooding from numerous sources, companies are facing practical challenges in managing and analyzing such huge data sets that comes in different formats, adds Ravi Varma Namboori a datacenter expert.
Despite of having various approaches to effective data management which includes data integration and enterprise data models, enterprises are still struggling hard with these traditional data management practices that are cumbersome and expensive.
Experts’ states that data collection and distribution practices need to be significantly re-engineered to reap maximum benefits from the huge data volumes transferred by IoT devices.
Consolidation of IoT and Big data analytics significantly enhances the operational efficiencies which in turn drives innovation in to business and provides new revenue streamlines. When it comes to IoT and big data analytics in manufacturing sector, companies can save up to 12% on scheduled repairs with help of predictive maintenance.
Effective big data analytics helps enterprises to gain deeper insight in to the buying behavior of the customer that brings huge business benefits which includes significant savings on operational expenses and overall business growth.
Businesses can leverage best by big data analytics and derive workable business strategies that gives competitive advantage to their products and services in global market places.