Put software and data analytics at the centre of your company: the IoT challenge
More and more companies are migrating their private managed data centres to cloud-based solutions, in order to access all the benefits of the Internet of Things (IoT). This is hardly surprising as new technologies are increasingly allowing businesses to access new revenue streams and enhancing the efficiency of operations. Constant connectivity makes it easy to analyse and collect data from a variety of different sources and data analytics helps streamline services, while aiding the business decision-making process.
Importance of data analytics to business users
Data analytics can be used to examine large or small chunks of data and form conclusions which help enhance profitability and growth. Organisations have long recognised the importance of capturing all the data streaming into their company and data analytics, combined with the use of Big Data, allows greater speed and efficiency in identifying trends.
The use of data analytics helps identify the statistics, trends and patterns occurring in all aspects of an organisation at a very early stage. This informs the business-planning and decision-making process, making it far more effective. Executives can make immediate decisions with data analytics, ensuring organisations remain agile and retain their competitive edge.
Use of data analytics, coupled with cloud-based technologies, is a cost effective solution for the storage and analysis of huge chunks of data. This also means organisations can develop products which are more specifically geared to meeting customer needs.
Types of data analytics
The different sorts of data analytics used in business include:
Streaming analytics, which handles huge, real-time data sets and is ideal for functions like air traffic tracking and financial transactions.
Time series analytics, which is very useful for identifying patterns and trends emerging within business operations.
Spatial analytics, a form of geographical pattern analysis that’s great for functions like smart car parking apps.
Data analytics is increasingly used in partnership with IoT applications and is suited to a wide range of uses. Marketing departments benefit from the actionable insights provided by data analytics which help to develop a far greater understanding of product use. The use of data analytics within the healthcare sector looks set to revolutionise costs and diagnosis and treatment options, as more areas of this valuable sector move towards IoT applications.
Get in touch with ShiftF7 to learn more about the IoT and ways in which shifting to cloud computing can benefit your business.