Three Key Facts About Sensors That Are Driving IoT Forward
As the collectors of actionable input information, networked smart devices with embedded sensors, software and electronics are a key driving force behind the Internet of Things (IoT).
However, they do not generate value for organizations on their own. Powerful, fast database technologies are required to create meaningful insight from the connected devices that are generating Big Data. When used correctly, the opportunities smart devices and the IoT present across sectors can be ground-breaking and deliver a real competitive advantage.
The financial services sector is a well-known example of where Big Data is already having a significant impact. The move from people-driven to algorithmic trading is just one illustration of this. But, the technology that enabled this shift holds the potential to significantly benefit a myriad of industries. First movers across numerous sectors have already woken up to the potential, and it won’t be long before smart devices and the IoT become standard practice across every area of business.
A number of industry leading healthcare firms, for example, have already begun testing embedded devices to collect health metrics like electrocardiogram (ECG) movements and blood pressure readings, to deliver proactive healthcare. And in manufacturing, major companies are not just purchasing new equipment with IoT sensors pre-installed but are retrofitting them in existing factories in order to improve operational efficiency and productivity. Electricity grid operators and utilities too are looking to make use of smart devices for measuring and communicating electricity use, to improve billing, generation and reliability.
As these cases demonstrate, this new era of connected devices gives companies more detailed operational data which in turn can be used to gain actionable insights that were previously not possible.
In practice, the rise of the use of smart sensors and the IoT across industries means that the amount of data to be processed will increase exponentially. In the Utility sector alone, weestimatethat by 2025, companies could be receiving around 900 times more data than they do today.
