There’s a lot at stake—$19 trillion in fact—as companies transform into digital businesses to capture value from the Internet of Everything (IoE). More than 42 percent of this value, or $8 trillion, will come from one of IoE’s chief enablers, the Internet of Things (IoT). While IoE is the networked connection of people, process, data, and things, IoT is the intelligent connectivity of physical devices that is driving massive gains in efficiency, business growth, and quality of life. So why worry about IoT when we have IoE? Simple, IoT often represents the quickest path to IoE and the $19 trillion that’s there for the taking.
The sheer size, variety, and speed of data traversing today’s networks are increasing exponentially. This highly distributed data is generated by a wide range of cloud and enterprise applications, websites, social media, computers, smartphones, sensors, cameras, and much more — all coming in different formats and protocols.
Whether it is in the cloud or at the edge, data generated by the Internet of Everything (IoE) must be analyzed to identify actionable insights that can be used to create better outcomes (such as from process optimization or improved customer engagement). Without this critical step, data remains just “data.”
There is often an immense gap, however, between the amount of data with hidden value and the amount of value that is actually being extracted. According to IDC, less than 1 percent of the world’s data is currently being analyzed. What good is data if isn’t analyzed to gain insights?
It’s no surprise, then, that in a recent survey conducted by Cisco Consulting Services, IT and Operational Technology leaders indicated that they perceive the Internet of Things (IoT) — a critical enabler of IoE — as being about much more than just “things.” When we asked them which area (people, process, data, or things) they needed to improve most to make effective use of IoT solutions, the largest number (40 percent) indicated “Data,” while “Process” (27 percent) ranked second. “People” placed third (20 percent) and “Things” finished last (13 percent).
In Monterrey, Mexico, deep economic and social gaps separate rich from poor, educated from uneducated, legal from illegal. In 2008, the city started experiencing violence related to turf battles between warring drug cartels. Drug use and high murder rates continue to steal the lives of youth, tempting those who lack the skills for traditional jobs into much higher-paying, high-risk careers of narcotics and crime.
To help young people withstand the pressure of crime and violence in cities near the United States-Mexico border, Cisco has partnered with World Learning and the United States Agency for International Development to provide information and communications technology (ICT) and entrepreneurship training at high schools. Cisco Networking Academy courses are offered as part of the program. In the first year, almost 500 students participated.