How the Internet of Things Will Make Big Data Even Bigger - Moderator
How the Internet of Things Will Make Big Data Even Bigger
Big data has been around for quite some time. The phrase was coined to describe large amounts of information that is generated by technology that is connected together. Because big data is generated through connected technology, the more technology that is connected together, the more information you will be able to receive. But, as the name suggests, big data provides a lot of information that can be difficult to sort through and organize so that it can be used effectively – on the other hand, though, the more information that’s available, the better.
According to IBM data scientists, big data can be characterized by and broken down into four categories: volume, variety, velocity, and veracity.
The Internet of Things
The Internet of Things is a term for the devices that we connect to the Internet and/or each other. The Internet of Things includes anything from cell phones to appliances and wearable devices to computers. That’s why the term is so broad and encompassing – it can be used to refer to anything that connects to the Internet.
How They Tie Together
Without the Internet of Things, big data wouldn’t be what it is today. They are tied together in a number of ways. Although we had access to big data before the Internet of Things came about, the Internet of Things has revolutionized the way we can get big data and who has access to it. Analysts and those with a specific interest in tracking the digital world are no longer the only ones collecting big data and using that information – anyone and everyone can access it.
Because the Internet of Things is any number of devices connected together, it can constantly generate new data. The Internet of Things has been especially helpful to businesses that want to really narrow down their marketing and advertising and reach their target audience more directly, making their efforts more effective.
How the Internet of Things Will Affect Big Data
One of the big ways the Internet of Things is affecting big data and making it even bigger is by providing ample storage space. Thanks to the Internet of Things, cloud storage, etc. there’s more space for the information and data to be stored. Storage can be an issue because of just how much information and data big data provides, but with the cloud and platforms specifically dedicated to IoT storage, like SenseIoT, organizations can now harness the constant influx of consumers insights generated by connected devices.
Another way the Internet of Things is helping big data become even bigger is by providing the big data itself. As mentioned, big data is pulled from interconnected devices, making the Internet of Things a major source of big data. With more and more devices available and connected and made more available to almost everyone, big data has grown and is continuing to grow as the Internet of Things continues to develop.
Although having large amounts of information available for companies and individuals to help them with their marketing, research, etc. is important, it’s also important to have a way to sort through, analyze, and condense all of that information and data in order to make it useful. Big data can be difficult to sort through, but thanks to the Internet of Things and the programs and software available as it has developed and continues to develop, making sense of data and turning into actionable insights is easier than ever before.
As the Internet of Things continues to grow and fuel the growth of big data, there will be a greater need for the technologies that can sort through the data and reliably assess the truthful value. Weeve, for example, is one company that is working on providing a platform for businesses to have access to big data and revolutionary Internet of Things business models. Their platform allows customers (ranging from enterprises to private users) to create and curate their own Internet of Things data marketplace, where devices securely interconnect and make their data tradable in exchange for other digital assets, among them, being cryptocoins the most prominent ones. Weeve is empowering the economy of things by democratizing the data on the Internet of Things.
The Internet of Things has already had a big impact on big data and will continue to support it and help it become bigger. In fact, a study conducted by Gartner back in 2013 predicted that the revenue generated by the Internet of Things products and services will exceed $300 billion by 2020. Because of their connection, the growth of the Internet of Things will likely fuel the growth of big data, helping it become even bigger than it already is.
How do you plan to implement and use the Internet of Things and big data to improve your business?