Preparing for the Internet of Things

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The Internet of Things (IoT) is a network in which devices and machinery will be embedded and connected with software and sensors in order to achieve greater value for manufacturers and users.

With the increase in technology, IoT is becoming more prevalent. Many within the data industry have been knowledgeable about IoT, but now people outside of the industry are becoming familiar with it as well as it becomes part of their everyday lives.

At Data Summit 2015, a panel discussion focused on preparing for the Internet of Things. The panel included Josh Rattan, director for information governance and risk management consulting with PwC, Jed McGraw, director of sales with ParStream, and Kiyoto Tamura, vice president of marketing with Treasure Data.

While everyone is excited about the potential of IoT, it can have some challenges for organizations. Rattan cited his clients asking about certain requirements they may have from a contractual or regulatory perspective.

“Believe it or not, it could be difficult in large organizations to have a complete view of what your requirements are in that regard, and making sure the sensors, devices, processes, and capabilities are aligned with those requirements as well,” stated Rattan.

McGraw stated that in a recent survey that ParStream conducted it found that the three top concerns for adoption were process and data governance, user adoption, and technology.

Tamura noted that it is not easy to collect all of the IoT data that is generated today for some of the smaller organizations because of the continuous volume of it and the rising costs as well.

The panel explored examples of business value that IoT can provide. “There are businesses that are using IoT to better engage customers as well from a manufacturing standpoint with sensors in the machines,” explained McGraw.

Rattan noted that some of customers view IoT as an extension of BI and the benefits he has seen it provide to the hospitality industry. “Hospitality clients are providing better experiences through mobile devices and eliminating check-out processes. It is an extension to engage with their customers.”

Go here to access Data Summit 2015 presentations.