IoT analytics: Reaping value from IoT data

The internet of things may be your key to data-driven transformation. Here’s how to turn vast troves of real-time IoT data into big-time business value.

IoT analytics: Reaping value from IoT data
Thinkstock

The internet of things (IoT) is increasingly becoming a key component of many companies’ data-driven transformation strategies. Indeed, organizations that have embraced IoT are already seeing benefits such as improved operational processes, better inventory management, and enhanced equipment maintenance — to name a few.

But a successful IoT strategy is more than just connecting a bunch of devices and sensors to the internet and gathering data from these “things.” IT must establish the ability to effectively analyze the vast amounts of data IoT creates in order to make sense of it and gain real business insights.

That’s why an analytics strategy for IoT should be a top priority for any company looking to get the most out of all the connectivity.

Organizations can enjoy a number of advantages in leveraging the IoT data they gather, says Carlton Sapp, senior director and research and advisory leader at Gartner.

These include contextual awareness of equipment and systems; improved decision-making, optimization and supervisory control of equipment and resources; reduced costs associated with data management; proactive, predictive and prescriptive management of equipment; and environmental compliance.

These opportunities are pervasive in use cases such as fleet optimization and management, asset management, financial risk management, and smart cities, Sapp says.

But they require a sound, streamlined approach to the data end of IoT. Here are several tips for dealing with IoT data, and getting the most out of these resources.

To continue reading this article register now

7 secrets of successful remote IT teams