Top Emerging Use Cases for IoT Data Analytics

The true value of IoT lies in analytics rather than hardware modernity in new sensor, mobile and wireless technologies. IoT and Data become inherently linked together. Data consumed and produced keeps growing at an exponential rate. This inrush of data is fueling widespread IoT adoption as there will be 30.32 billion IoT connected devices by 2020. The internet of things (IoT) is a network which connects several devices by the internet to achieve a goal. There is innumerable IoT application development carried out in various sectors and have succeeded in providing huge benefits to the users.

Data generated by the IoT devices are useful only when if it gets subjected to analysis, which brings data analytics in the picture. Data analytics is defined as a process which used to compare big and small data to extract out the meaningful conclusion and actionable insights. These insights are in the form of statics, trends, and pattern that aid business organization to implement an effective decision-making process.

Here we discuss to help you understand how IoT analytics enabling transformative business opportunities.

Importance of IoT analytics: Firstly, it’s important to understand about the analytics on IoT involves datasets generated by the sensors, which are now cheap and sophisticated enough to support a seemingly endless variety of cases.

The ability of sensors determines by the capability of gathering data about the physical environment, which can be analyzed or combined with other forms of data to detect patterns.

Use Case #1: Analysis of Consumer Products for Marketing

IoT has the potentials to rewrite how businesses think of their customer. This becomes possible by analyzing the data on how the consumer uses a business internet connected products.

              This data is correlated with the social media data to determine whether a consumer who brew coffee is more likely to be actively discussing the brand on social media and the vendor also see the variation in the amount of brewed coffee by consumers correspond to the number of coffee capsules also sold by the vendor.

Use Case #2: Serving Business Users and Consumer with the Same Analytics

The analytics on IoT data is the potential for analytics to be both on consumer facing and business facing at the same time.

For instance, a client selling smart meters that don’t require a meter reader. They sell smart meters into a state and country governments as well as private energy providers, so that it detects fraud on the meter data. In another way, is consumer oriented, as the analytics enable portals for consumers to manage their energy consumption, see how much they’re over and under other households in the neighborhood, switch appliances on and off to determine how they impact energy usage etc.

Use Case #3: Video Analytics for safety and Surveillance

Video analytics is an important enabler of any strategy to substantially improve the level of security. It acts as intelligent as the brain of a security system, using metadata to add sense and structure to captured video footage. Now each network video camera becomes intelligent, enabling them to understand what they’re seeing and alerting guards to any potential threats the moment an alarm rule is met, significantly increasing security levels.

Use Case #4: Sensors and Cameras Enable Connected Events

One of the most attractive domains in IoT analytics is emerging fields of social analytics which include sensor data, video data, social media data, etc. to gain effective insights into the personalities of single and groups.

                               Connected events are once in which large-scale sensor deployment is assisted with understanding and enhancing the experiences of participants.

Summing up: The utilization of data analytics is promoted in the area of IoT to gain improved revenues, competitive gain, and customer engagement. IoT analytics is fully managed service that analyzes and support data and build fast, responsive IoT applications without managing hardware or infrastructure.

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