Internet of Things: Revamping Big Data for Business Processes
2.5 Exabyte of data is created on the internet every another day. The amount of data generated through digital transformation is quite shocking and is fueled by mobiles, social media, cloud and Internet of Things and the big data analysis (BDA). The effect of the change in connecting an ever growing number of people and enclosed merging links around businesses, consumers and government is already being felt across society, beyond this number. But what is the significance of this for the organization?
Digital Transformation is an unbelievable opportunity for business, building opportunities for maintaining strong relationships with customers, smoothen the structure of the organization as
well as redefining the traditional industries. In this environment, leaders are challenged to move their enterprises to move forward, implementing digital technologies coupled with operational, organizational and innovated business model for building new ways to operate and grow their company. Organization’s ability to leverage the continuous explosive data to transform main operations of the business, driving competitive advantage, increasing revenue and therefore increasing market share is crucial. The organizations that analyze all relevant data and deliver actionable information achieve extra $430 billion in productivity as compared to those who are less analytically oriented.
Advantages related to low operational cost as streamlined data driven processes reduces the repetition and increases the efficiency and gains around implementing Internet of Things and BDA across enterprise include creating smart operations as well as leading edge data visualization tools. The device is the root of all the business process change which connects, disseminates and integrates the data across the organization and also allows for decision making and enterprise agility. IoT continue to have great share among IT executives as a strategically compulsory to drive growth, improve productivity or maintain costs with slight shift over last one year. Today, demand is centered on proving the value of IoT, the additional platforms must support deployments and the security requirements are needed for these new edge devices. Prime to this focus, is strategy which makes sure that workers have access to latest analytical tool to maximize ROI from IoT and companies build clear end of use device strategies.
As such, properly aligning IT architectures with operational technologies (OT) is a vital step required in this evolutionary change. By 2018, 60% of global companies will integrate these 2 technologies, process, organization and security levels to fully realize the value of their investment into the same. The operational technologies differ on the basis of type of industry but the software and sensors in the organization’s infrastructure are witnessing growth across the verticals thereby coming together as integrated cyber-physical system which have the ability to exchange information, trigger actions and control each other independently.
The extent of these devices for the organization will lead to an explosion of data which needs to get managed in an optimal manner so that the business outcomes are positive. By 2019, 45% of the data generated by IoT will be stored, analyzed, processed and acted upon close to or edge of the network. The data generated through IoT will be either processed at the enterprise or at the edge of the network on the basis of data and content rules and service levels with strong security process to protect these devices. But the business process query is delivered to the data instead of bringing it to the enterprise data center.
Innovation will be there in analytics, systems & service management, thereby increasing IT productivity and creating entangled, informative, interactive, intelligent, cognitive and intrusive ecosystem. The proper integration of IoT and BDA into the organization’s business processes is either for the physical end user or automated system at the core for greater self service. Self service in IoT & BDA context is related with visual discovery. Though, the latest trends reveal that self service must exist within a framework of data acquisition and preparation. Spending on self service visual discovery and data preparation market will grow 2.5 times till 2020 & quick than those of traditional IT controlled tool for similar functionality. Self service analytics and discovery tools are changing analytic abilities of the business users. This is also transforming the interactions of the organizations with the data and how they develop the hypothesis and how they react to changes in the market. This factor has started to affect not only the data visualization and exploration software but also acquisition of data and full step preparation of analytic life cycle.
So where your organization does stands in this business process revolution? Enterprises need to think of these two technologies in terms of what business value they can generate through it. There are several ways to achieve it. Besides, IoT driven strategy, an organization can also
implement third party business process transformation solutions which utilize IoT & BDA to achieve those results. Irrespective of whether the solution is internally driven or externally sourced, the aim should be on self service oriented solution viz. both cognitive and reactive to the end user demands.
About The Author The article is written by Tanuja Dongre, associated with SureVin, one of the leading service providers of BPO, ITES, Skill Development services, Digital Solutions & Marketing, Data Enrichment & Management Service, Training solutions and HR Consultancy to our clients. With the right balance of technical expertise and vast industry knowledge, SureVin strives to create customer satisfaction considering the nature of work with an innovative approach maintaining integrity and confidentiality of the business.