Cisco: Internet of Things (IoT) Data Continues to Explode Exponentially. Who Is Using That Data and How?
IoT and data statistics are staggering, to the point of appearing fantastical:
- 5 quintillion bytes of data produced every day (that’s 2.5 followed by 18 zeros)
- By the year 2020, the IoT will comprise more than 30 billion connected devices
- It would take a lifetime to manually analyze the data produced by a single sensor on a manufacturing assembly line
No wonder studies reveal that:
- Only 26% of companies surveyed reported that their IoT initiatives have been successful
No wonder the Harvard Business Review found that:
- Less than half of structured data is actively used in decision making
- Less than 1% of unstructured data is analyzed or used at all
Logic dictates that what’s needed is a process for storing and analyzing the data that IoT devices and sensors produce. A process that distills data into actionable, useful information. Information that becomes intelligence. Intelligence that provides the basis for transforming our lives and making informed business decisions. That’s the logical goal. Let’s take a look at how and where the IoT has produced tangible results. Although its full potential has not been reached, the IoT has been a major force behind today’s digital transformation and much of the public and private sector innovation that has developed over the past decade.
Read the entire article here, Internet of Things (IoT) Data Continues to Explode Exponentially. Who Is Using That Data and How?
Via the fine folks at Cisco Systems.