A question many companies are asking right now. The endless debate about data collection and use is continually growing and Internet of Things stakeholders are asking: What should we do with all this data? A recent survey from Dimensional Research sponsored by ParStream titled Internet of Things (IoT) Meets Big Data and Analytics revealed that 94% of companies or stakeholders that are involved in some way with IoT projects face challenges collecting and analyzing data in a timely fashion. Why is this a problem? Imagine having servers with gigantic amounts of IoT data stashed away in some warehouse, waiting for someone to make sense of it, and inform you promptly about whether or not your connected home is overheated (hey Nest users!) or if someone is stealing your valuables (hey there Canary fans!).
Accurate Data Analysis
With proper data analysis, better decisions can be made. The survey also suggests that 86% of the participants (Technology and Business stakeholders) would increase the ROI of their Internet of Things investment with improved data collection and analysis. Data analysis can potentially result in having proper assessments to existing processes or optimizing operations within a larger company.
Moving into what Qualcomm also calls the Internet of Everything, there’s a lot of room to improve, especially when it comes to obtaining large chunks of processable data and making sense of it. In the very near future, out smartphones and hand-held smart devices will funnel broad and specific data sets which will result in improved, real-time actions. For instance, IBM’s Watson has been growing into a data-devouring behemoth. But most impressively, is how it processes the data. Even a creative mind such as Bob Dylan’s can gain inspiration from IBM’s engines.
With LTE Direct, the powerhouse, device-to-device technology, we’ll be running into these types of challenges. Imagine a potential 57 billion downloaded apps, powered by LTE Direct technology, delivering real-time data that sends perpetual sets of data, so-called expressions. Not only bits and bytes, but factual, ready-to-use data that will improve smartphone users, and better yet, the magnificent world of Internet of Everything.