“We are surrounded by data, but starved for insights” - Jay Baer
By Admin June 15, 2019
Internet of things is one of the most advanced forms of technology currently at its boom in society. Internet of things forms the backbone of IT infrastructure, where IoT Analytics is the key element that helps to create meaningful insights which are usually accumulated from huge data from our everyday lives.
But it is important to know about IoT Data Analytics which includes the involvement of datasets that are generated by sensors and easily understand the real-time contexts around the human being. If it is done correctly, would help to deliver a new set of services to the customers.
Let us focus on some use cases of IoT analytics that would help to have transformative Business Impact across various domains and aspects.
# Use Case 1: Serving Consumers and Business users
The most important aspect of IoT is that it is both clients as well as business-facing at a single point in time. IoT analytics helps a business to generate revenue thus, by detecting fraud and using traditional data mining and facilitating new services to the customers.
Internet of Things helps to a great extent in marketing and sales domain of any business like the anticipation of customer needs – IoT helps to understand and analyze customer’s requirements based on the trend of customer’s usage of products and to forecast future purchase, flexibility in billing and pricing of goods – with the help of IoT it is possible to plan out results based on pricing and helps in increasing the focused market penetration of products.
IoT analytics has been most emerging around the field of social analytics with the help of social media data and video data, which provides useful information on different personalities and behaviors of individuals. These updated technologies help to capture not only quantitative data but as well qualitative ones like facial expressions, emotions, stress levels, etc.
IoT analytics helps to detect glitches and thus protect us from problematic situations. Video analytics helps to detect and record buying habits and provides us with greater insights to predict future events. Video Surveillance can be sited in workplaces which would help in a great way to prevent major accidents.
Data Streaming is a continuous process of data, can be used continuously and in real-time. Some technology has made the real-time continuous streaming of data possible, which helps to process the data then and there on a real-time basis.
Internet of Things helps businesses to grow at a very high rate by increasing their efficiency and effectiveness of work. IoT helps the business to act very proactively and produce updated data upon which they can act and process the market well. After going through, this article, if you are thinking of investing in the Internet of Things, then do not waste any more time and go ahead and make your investments in the right direction because there are a lot of other advantages that are associated with IoT analytics.
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