Unlock Business Value from IoT: A Four-Step Approach

Jul 5, 2016 | by Peter Shashkin

Unlock Business Value from IoT: A Four-Step Approach

Smart cars, smart homes, smart devices. The Internet of Things (IoT) is already transforming how we live. But very soon, the IoT will swiftly extend into the enterprise. A report from BI Intelligence, predicts that enterprises will account for 39% of the roughly 29 billion active IoT devices by 2019 – and the possibilities for collecting and using IoT-derived data are endless.

But data alone doesn’t deliver value in and of itself. Organizations must unlock insights from the data gathered and act on those insights to derive value. It’s business intelligence 101. Whether your data is streaming from a horde of disparate enterprise systems or from IoT devices, wherever they may be, to be truly useful that data must be managed and analyzed.

IoT + Cloud = Better Data Quality

It’s no coincidence that big data and the cloud have evolved in parallel. Cloud computing is the ideal platform for processing data and has made business intelligence accessible to all. Affordable, scalable, and able to handle massive amounts of data on the fly, the cloud can seamlessly handle data loads that would floor your traditional data center.

Download our paper "4 Steps towards Achieving Big Business Intelligence with IoT"

Consider this real-world scenario: A metropolitan transit agency needed an economical way to keep a pulse on its entire bus fleet, beyond simple GPS tracking, so that riders could be kept informed about bus scheduling, delays, and so on. Using a combination of IoT, smartphone-technology, and the cloud, the agency got a cost-effective single source of truth about vehicle movements that help better manage fleets, re-route buses and prevent bunching.

Scalability and processing power aside, the cloud also brings another, often overlooked, benefit to IoT – data transparency. By exposing gathered data via a cloud-based API, organizations can share and extend the value of that data with employees, partners, customers, or even external developers. By building applications on top of the API, these communities bring different perspectives to business problems and shed light on bad or inconsistent data issues, leading to improvements in data quality and correct reporting. It’s a perpetual cycle of improvement, where businesses improve data quality in parallel with providing better services.

Are you Ready?

According to a report by Verizon, 72% of organizations feel that IoT is to their competitive advantage. But are you ready? To help you get started, we’ve assembled a four-step approach to successfully deploying your cloud-enabled, IoT business intelligence strategy. Check it out here.

To learn how EastBanc Technologies’ IoT experts can help your organization thrive, contact:

Jill DaSilva | Director of Sales Operations | | 202-295-3010