The Internet of Things is the next big trend on the horizon for many enterprises, forcing them to examine a plethora of new business opportunities and determine ways to glean insights from existing customers, products, and operations.
To address the needs and implications of IoT, John O'Brien, CEO and principal advisor at Radiant Advisors, and Anne Buff, business solutions manager and thought leader at SAS Institute, held a joint presentation at Data Summit 2017 focusing on the rise of IoT.
In O’Brien’s session, titled “IoT Adoption and Maturity,” he presented a recent survey that outlined key insights as to how businesses view IoT.
Radiant Advisors, DBTA, and Unisphere Research recently partnered on an IoT Market Survey to assess the state of IoT adoption and maturity.
“IoT is quickly becoming pervasive,” O’Brien said. “There’s more data you can see, growing faster than ever.”
According to the survey there is an overwhelming positive sentiment to adopting the Internet of Things, O’Brien said, and 98% of respondents were familiar with the term.
However, only 26% of respondents are actively researching and planning on moving forward with IoT in mind.
One of the main challenges businesses face while looking to invest in IoT is a lack of understanding what value it brings to the business or to use cases. There is a fundamental lack of understanding the IoT data pipeline along with a lack of skills when it comes to understanding how to analyze IoT data.
Security is also one of the biggest concerns and Buff targeted IoT governance with her presentation, titled “Data Governance in IoT.”
There are eight key points to adopting, understanding, and strategizing the world of IoT. According to Buff, this includes:
- Finding the right fit. Allow for an adjustment phase.
- Questioning collection techniques and processes.
- Validating regularly. Document all variances.
- Analyzing and investigating all access and behaviors.
- Isolating networks for protection.
- Using data masking for valuable insights without risky details.
- Evaluating value and risk of ownership.
- Carefully consider storage and retention. Evaluate regularly.
Data Summit is an annual 2-day conference, preceded by a day of workshops, that offers a comprehensive educational experience designed to guide you through all of the key issues in data management and analysis today. The event brings together IT managers, data architects, application developers, data analysts, project managers, and business managers for an intense immersion into the key technologies and strategies for becoming a data-informed business.
Many presentations from Data Summit 2017 have been made available for review at https://www.dbta.com/DataSummit/2017/Presentations.aspx