As devices become smarter with communication capabilities, the expectation of what can be done with the data generated and collected from these devices continues to evolve in both the commercial and consumer spaces.
So said Dave Ives, director at Karabina Solutions, speaking during ITWeb Business Intelligence Summit 2015 in Midrand yesterday.
He pointed out there are billions of devices that have the ability to collect information and the number grows daily. Research firm IDC predicts the installed base of "things" connected will be at 212 billion by the end of 2020.
These devices and sensors collect all kinds of data, to which organisations have access; for example, transaction data, enterprise resource planning data, customer data, meta data and social data, stated Ives.
It is expected with so much data available, a business can quickly combine and process the data, gaining more insight about its environment and the devices used regularly, he added.
To Ives, "connected systems" will continue to get connected to other connected things, creating bigger and more sophisticated solutions.
"When you connect business systems and tap into new and existing data streams, you get real-time visibility into your processes, enabling you to make smarter decisions now, and better plan for the future."
Ives explained when a company harnesses its data and connects its people and infrastructure, it can unlock new opportunities, increase efficiency, delight customers, and gain a real advantage over the competition.
By tapping into IOT, organisations can provide customers with what they want - sometimes before they know they want it, he added.
When companies create truly personalised experiences that surpass customers' needs, provide instant access to inventory information via connected devices, or offer speedy, streamlined service, it raises the bar on customer service - and that leads to loyal, repeat customers, explained Ives.
Together, a company's devices and data can empower and enable employees, and allows the business to connect with customers and business partners, he added.
By tapping into data streams from IOT and connecting them to the cloud and back-end systems, an organisation can gain a detailed view into its operations, allowing it to see, do, and understand things it never thought possible, concluded Ives.
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