ICT analysts have emphasised how 2014 will see the execution of data management strategies, including analytics, volume control and application. The prediction is that businesses will aggressively begin to extract data on a completely new level … a level that will involve data streams sourced from various machines, processes, procedures and systems. Welcome to the Internet of Things.
As a fast-growing trend The Internet of Things is defined by the expanded combination of networks and the Internet to facilitate a scenario in which all things/ objects are connected and have unique identifiers that enable them to transfer data.
It will force decision makers to review their data management and application strategies. Today, in order to remain relevant and enhance the ability to compete, it is vital that businesses are able to not only effectively and securely store and manipulate structured data, but also extract the value of readily available unstructured data.
The fact is that this type of data is everywhere and, if successfully tapped into, can add enormous value in terms of consumer behaviour, buying patterns and insight into developing trends.
Analytics of big data will remain relevant, however, there will be a new dimension to this facet of technology – brought about by the awareness of businesses to execute data management strategies to gain these benefits.
Data analytics, management and strategy application are areas that international technology vendors are highly aware of- and intend to tap into going forward. They are faced with the reality of not only being able to help extract and collate streams of data, but be positioned at the network to ensure seamless connectivity – a prerequisite for the Internet of Things.
One such vendor, Cisco, has put the situation in perspective and says that from the Internet of Things where we are today, we are just beginning to enter a new realm: the Internet of Everything (IoE), where things will gain context awareness, increased processing power, and greater sensing abilities. Add people and information into the mix and you get a network of networks where billions or even trillions of connections create unprecedented opportunities and give things that were silent a voice. Cisco defines IoE as bringing together people, process, data, and things to make networked connections more relevant and valuable than ever before—turning information into actions that create new capabilities, richer experiences, and unprecedented economic opportunity for businesses, individuals, and countries.
In order for businesses to better position themselves to take advantage of this trend and utilise both structured and unstructured data to the benefit of operations, they will need to be strategic in the acquisition and implementation of technology. This is where partnerships, alliances and consolidation will play a major in the industry this year.
For service providers, there is a clear opportunity to expand services and extend the reach to new clients in a rapidly growing market.