8 Analytics Trends to Watch in 2015

Business analytics are becoming 'the air companies breathe and the oceans in which they swim,' according to Deloitte Analytics. These eight trends will dominate the analytics field in 2015.

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2. The Analytics of Things Comes into Its Own

The Internet of Things (IoT) will continue to grow rapidly in 2015. Analytics tools and techniques for dealing with the massive amounts of structured and unstructured data generated by IoT are already coming to light, but Deloitte says the integration of systems is where things are lagging. Both consumer and industrial IoT applications could benefit from industry standards, especially since traditional analytics architectures and techniques don't play well with the noisy, analog, high-velocity data generated by sensors.

"Everyone from Alljoyn (open source) to Google to the Industrial Internet Consortium is now involved in the standards effort," Lucker says. "We are making headway, but there are some things that could speed the pace."

First, Lucker says, it is essential that we facilitate collaboration, allowing participants from research, academia and the business to get involved.

"There are too many IoT standards bodies already — and most of them are technology company-driven," he says. "It would be better in the long run for users, and established companies, to drive standards setting for the IoT."

In addition, Lucker says we need to think big. It's not just about setting standards for sensor devices. We need to think about standards for data integration, analytics and processes too.

We need to think faster. Lucker says the use of new technologies like cloud and APIs can translate between standards and formats quickly and we need to employ them.

That said, Lucker warns that we should probably hunker down for the long haul. It took 15 years to develop a standard for RFID. While IoT standards-setting is moving much faster than that, Lucker says we shouldn't expect success overnight.

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