Real-Time Analytics and Internet of Things
Created on October 1, 2015
The Internet of Things (IoT) is considered the next big change in technology. What is most interesting about IoT is that it is multi-faceted. One of these facets is the use of IoT using Real Time Analytics.
Analytics is not a new concept and are available in such forms as data warehouses, data marts and more recently through Big Data. Analytics can be segmented into four broad steps including, Visualization Collection, Analysis, or Transmission. Let’s consider each of them individually.
In the early days of Data Analysis, the methods of computing involved the data storage in database systems and running queries to retrieve data. As the volume of digital data grew, the construction of data warehouses increased. Simultaneously, methodologies evolved based on aggregating and segmenting data so that hidden patterns could be identified. This action transformed the Big Data revolution where cloud based technologies were employed for storing the increasing volume of data. The Map-reduce approach was implemented to sort data using many basic hardware boxes.
The Transmission of Data
The transmission of data from its source to destination point for analysis has seen numerous transitions. For example, data was initially collected at the source either electronically or manually and then stored on disks which was delivered to the recipient. That quickly changed when the Internet gained mass adoption and documents were mailed thereby revolutionizing how data was sent.
Data reporting is a dated process. It morphed into Executive Information Systems (EIS) with rich UI dashboards that captured the data through effective graphical interfaces. Reporting and visualization took a further step with current visualization tools such as:
The Collection of Data
For example, before the growth of automated forms of data collection, one had to collect data primarily thru manual methods. This process evolved so that data was captured by humans electronically but still manually. Data was entered at the source electronically using tools like Word Processing software or spreadsheets and then it was analyzed. The process eliminated the need for data entry and/or transcribing thus shortening data collection. That being said, data collection still wasn’t real time.
Combining the real time capabilities of Internet of Things with the four pillars of Business Intelligence is important and will benefit enterprises. IoT platforms such as NetObjex are quite formidable. NetObjex provides real time analytics based on capturing data via beacons, sensors, and location based technologies. For example, by using facial recognition software and hardware, advertisers can display targeted video commercials via digital signage. Also, facilities managers can track assets that are missing or stolen and take corrective action in real time Enterprises can now make quick decisions and take corrective action immediately.
There are many benefits of real time analytics and Internet of Things. These benefits will once again enable Business Intelligence to reinvent itself.