The Internet of Things Isn't a Little Thing
Creating a competitive advantage is hard work. It sometimes feels like all the innovations have already hit the market and the margin between you and the competition is growing narrower.
It’s like you’re suffocating.
The modern marketplace requires vast amounts of information to be collected and analyzed beyond what engineers and marketers can eyeball. And from that, the advantage we seek is a single key insight culled from a big haystack of data.
What is “big data”?
Big data is one of the popular buzzwords that describes a vast set of information, something bigger than what can be analyzed through traditional (read: human) means. It starts with millions of records, which can seemingly be unrelated to reach other.
But you can’t just throw this data set into Excel and make a Pareto chart! Because storage requirements alone are daunting – gigabytes could quickly turn into terabytes of information and that gets overwhelming.
But that’s not all.
The range is an endless ocean of 0’s and 1’s, for which algorithms and models are needed to identify the patterns and trends that ultimately generate value and offset the cost of managing this raw information.
Then what’s the answer?
Organizations need to invest in Information Technology infrastructure with hardware and manpower to maintain the data.
It’s a game rigged for only the largest of corporations, and the Internet of Things (IoT) is in process of making all manufactures required to play. Don’t risk missing out on this wave of information!
What are you waiting for?
Join the game.