The Internet of Things (IoT) is poised to significantly transform businesses by enhancing data analytics capabilities, with only a small percentage of enterprises currently monetizing their IoT data. Education will shift to train individuals in data management and related fields, while challenges regarding data quality and storage infrastructure will arise as IoT data generation skyrockets. Moreover, the IoT will enable new operational models, such as usage-based insurance in the automotive sector, changing how industries operate.

1. 5 WAYS
IOT WILL
TRANSFORM
BUSINESSES

2. HUGE DATA MINISCULE
MONETISATION
The amount of data produced is increasing immensely, most of which is
streaming in the from the IoT, or Internet of Things.
Only 8 percent of enterprises have monetized
their IoT data streams, and
within this small subset
only 25% of data is being
monetized

3. #1. The IoT WILL SHIFT FOCUS ON
DATA ANALYTICS AS A COMPETENCY
Big data analytics will be
a core competency.
Data won’t be relegated
to a team or department,
it will be enterprise wide
and well utilized across
the organization.

4. #2. CHANGE THE FIELD OF EDUCATION
Expect colleges, universities, and
trade to train students in data
management, governance,
analytics, and related sciences
Universities will be able to mine
and analyse data to understand
student’s sentiments, thereby
improving the holistic performance
of the system

5. #3. THE IOT WILL CHANGE DATA
STORAGE INFRASTRUCTURE
IDC predicts 44 Zetabytes of data to be produced by 2021
(1000X more than today). Focus will shift to the following forms
of storage:
Hybr
id
Clou
d
Fla
sh
iSD
S
DN
A

6. #4. THE IOT WILL FACE CHALLENGE OF
DATA QUALITY
Data quality is essential for gleaning
useful analysis.
A huge challenge is in ascertaining
reputation of data source as well as
vulnerability of data quality.
This happens because 3rd party
appliances and bar codes trigger data
that can manipulate systems.

7. #5. THE IOT WILL CHANGE THE BUSINESSES
THAT USE IT
‘Analyze and act’ operating model
using the IoT to transform
For e.g. Insurance sector can use
‘Telematics’ to gather history of
speed, distance and driving
patterns and generate usage
based insurance for automobiles.

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