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Why Enterprises Need IoT Analytics

As the potential of the Internet of Things (IoT) grows, every organization is realizing that an IoT analytics platform is needed to take advantage of the massive amount of data IoT technology generates. An analytic solution can help enterprises successfully improve internal operations, offer a better customer experience and deliver real-time network intelligence. However, challenges with data security, data aggregation across multiple IoT devices and building a functioning IoT integration platform need to be overcome to reap the full benefits of IoT for enterprises.

Changing Technology Base and Analytics Challenges

The fact is that IoT devices will only grow, with 20 to 30 billion IoT units expected in the marketplace by 2020, many of them for enterprise and corporate applications, including manufacturing, retailing, healthcare, finance and, of course, telecommunications. The major challenge is finding the right solutions to analyze all the data these devices create.

IoT data can accumulate quickly, necessitating not only storing all of this structured, semistructured and unstructured data, but also processing it to ensure that data is not only complied but understood.

Security and Privacy

IoT data security is also a major concern. PricewaterhouseCoopers released the Global State of Information Security Survey 2015, which showed that 70 percent of IoT devices lack even fundamental safeguards. IoT designers need to move beyond focusing on perimeter defense and build IoT defenses into the product itself.

At the same time, the data generated from IoT devices need to stay in the hands of the users. If companies exploit the trust of customers, it may slow down the implementation of analytics solutions. This doesn’t mean data can’t be used for analysis; it just means it needs to be protected and tightly controlled at all times.

Using an Integrated IoT Platform

Enterprises need to overcome problems with usage, protect user security, ensure that constantly evolving technology doesn’t leave an analytics solution in disarray, and deal with legacy software solutions that were never meant for IoT. To do this, they need an integrated solution from an IoT platform that can actually use and respond to the data being generated.

Leveraging IoT analytics will allow enterprises to be proactive about security, utilize analytics to improve customer service and discover opportunities to bring new services to market.

Ultimately, IoT analytics is key to maintaining a competitive edge for enterprises as this technology begins to dominate the business world.

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Case Study: IoT is redefining the customer experience. Nokia case study.

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