Last month, Gartner published one of its well-known Hype Cycles, and a Forbes headline summed up a key assertion very well. “It’s Official: The Internet Of Things Takes Over Big Data As The Most Hyped Technology.”
This comes as no surprise to anyone engaged in this market phenomenon – the explosive growth of things connecting to the Internet. At Cisco, our engineers determine that about 13.5 billion things – everything from mobile devices and computers to sensors and machines — are connected today. By 2020, we forecast 50 billion such connections – a much faster adoption rate than electricity or telephony.
Web searches for IoT and media mentions of IoT each have tripled in the past couple of years alone. Our consulting services group confirms that global Internet Protocol (IP) traffic continues to accelerate exponentially, and the last two years have spawned new IoT-related consortia and standards bodies.
The hype clearly has accelerated. However, I passionately believe that in this case the hype is completely justified because it is underpinned by tangible hyper progress throughout all types of industries. Other markets in the past that have ranked high on the Hype Cycle have included ecommerce and wireless technologies, and nobody can argue the rocket success of markets engaged in online business portals, social media or mobile devices such as smart phones.
IoE Can Unleash $19 Trillion in Economic Value
IoT provides the foundation for an even greater – we think unprecedented – technology revolution that Cisco calls, the Internet of Everything (IoE). IoE includes the connection of things, people, data and processes, enabling the transformation of data into information, knowledge and wisdom. As a result, Cisco Consulting Services estimates that IoE can unleash $19 trillion of economic value worldwide over the next decade by generating new innovation, revenue streams, customer experiences and improving asset utilization, employee productivity as wel as sup0ply chain and logistics operations.
Connecting Dark Assets: An ongoing series on how the Internet of Everything is transforming the ways in which we live, work, play, and learn.
If you’re trying to run a business today, you are undoubtedly dealing with global manufacturing and distribution systems—and competitors from around the world. The Internet has given companies of all sizes access to a global marketplace, and that means competing in an environment where cost is king, and margins are razor-thin. No wonder manufacturers and distributors are trying to squeeze every bit of inefficiency out of every link in their supply chains.
Fortunately, the Internet of Everything (IoE) is here to light up “dark” supply chain assets by connecting them to data, things, and processes that multiply their value. As a matter of fact, Cisco Consulting Services’ research shows that IoE has the potential to create or migrate $2.7 trillion in value over 10 years’ time by improving supply chain and logistics efficiency and reducing waste.
Take, for example, the common forklift. It’s an ubiquitous feature of factories, warehouses, and loading docks everywhere—but not tremendously efficient when you factor in the time it takes for a driver to locate the correct pallet, and the damage that sometimes occurs while navigating stacked pallets through narrow warehouse aisles. But when IoE “lights up” this dark asset by giving it sensing capabilities and connecting it to the right data and software, the forklift becomes an auto-guided vehicle (AGV) that can find its own way through a massive warehouse. The AGV can go directly to the correct pallet of goods and deliver it at the right time to the right place. It will even plug itself into a charging station at the right time to ensure optimal battery life.
But it’s not just auto-guided forklifts that are transforming warehouse efficiency—sometimes it’s robot-guided shelves. Amazon is using small Kiva warehouse robots to move portable shelves from warehouse storage to an area around the perimeter Read More »
When you walk outside and notice dark clouds gathering, or a cheerfully bright sun, little may cross your mind except to grab an umbrella or your shades. But chances are, the team at The Weather Channel knew about these weather conditions days in advance thanks to Fast IT. And with this advance information, The Weather Channel offers what is relevant to you in the moment.
In our Internet of Everything (IoE) world, more consumers and employees are demanding more relevant content now. As such, organizations must keep pace. The Fast IT model built to transform and simplify IT operations is the way to evolve in today’s environment.
For many CIOs, including The Weather Company’s Bryson Koehler, a Fast IT model has resulted in more accurate, relevant and timely data with unprecedented and unlimited uses. Consider his insights in this video:
“When I look at network programmability, I see the same capability enablement that I see from all of the other things that have preceded it,” he said. “Which is how do we leverage technology to be more flexible, how do we free up engineers and developers to innovate quicker and how do we get the traditional shackles of rigid technology unlocked so we don’t have to be nailed down to a specific piece of infrastructure.”
Over the past year-and-a-half, The Weather Company, parent to The Weather Channel, has rebuilt their entire data platform, moving their forecasting over to the cloud, allowing them to ingest data through an extremely rich set of application programming interface (API). In doing this, the organization is able to improve the accuracy of their forecast, collecting data from across the globe and analyzing it at lightning fast speeds – essential when dealing with an unpredictable variable like the weather.
The CIO’s Finance Summit and Insurance Summit were recently held in Atlanta, GA and Cisco was a main sponsor at both events. The CIO Finance Summit provided a great opportunity for executives to have in-depth discussions on the best practices and strategies necessary to build customer-centric organizations. The CIO Insurance Summit brought together C-level executives from the property and casualty, life and annuity, and health segments, along with innovative solution providers and analysts from the insurance industry to discuss the critical technology issues affecting insurance organizations.
Major themes discussed at the CIO Finance Summit:
Channel Integration: Bridging the Business – IT Gap: Many banks are now addressing the gaps between business and IT as they move forward with channel integration and an omnichannel strategy. Marvin Cortez, Cisco Banking Practice Advisor discussed the criticality of building an appropriate business with IT roadmap that supported these initiatives and how Cisco is working with retail banks.
Customer Centricity and Interaction – What Will it Look Like in 5 Years? Meaningful client relationships are fundamental to retaining and attracting consumer and commercial customers. Customer preferences and increasing tech sophistication are causing distribution channels to evolve. Al Slamecka, Cisco Banking Practice Advisor, outlined the evolution of customer interaction and addressed the challenges and opportunities banks are now faced with to create the optimal client experience.
Major themes from the CIO Insurance Summit:
As consumers become more educated and savvy about their insurance choices, carriers are addressing the need for greater customer centricity holistically with better insight, optimized processes, and enhanced customer reach through direct and indirect channels.
Bridging the Gap, Today and Tomorrow! This session focused on how business and technology gaps are creating both challenges and opportunities. Cisco’s Rob Cornwell, Insurance Practice Manager, and Don Canning, Financial Services Practice Partner Manager, addressed how insurance industry trends are impacting lines of business and the resulting impact on IT strategy across Data Center, Networking, Collaboration and Security as we move toward the Internet of Everything.
IoE for Insurance Roundtable: In this lively exchange, roundtable participants discussed how the Internet of Everything is affecting the Insurance industry. Cisco’s Insurance Practice Advisor, Jeff Tumpowsky, opened with the observation of how the industry is seeing new data sources and how this data is driving new products, intelligent processes, tailored communications and new insights around risk. He explained where opportunities lie, first mover advantages, and what value is at stake for insurers doing nothing.
These two summits provided an excellent opportunity to exchange ideas, share successes and paint a vision of where the banking and insurance industries are evolving to as they address customer centricity, omnichannel sales and service and creating new business models. If you attended, let us know your feedback from the event in the comments section below. And if you could not make the event, please join the conversation.
Enterprises are challenged to keep pace. That’s a big problem in a world where data and analytics form the competitive battlefield. With trends like Big Data, Cloud and the Internet of Everything are transforming our world, the possibilities are staggering.
Unfortunately, these possibilities also come with challenges:
With 25 billion connected devices by the end of 2015 and another 25 billion by 2020, data is and will continue to be sprawled out over billions of devices.
Data distribution reaches far beyond the traditional enterprise data warehouse, today data is everywhere across hybrid IT environments that span on-premise, private cloud and public cloud.
With data the lifeblood of today’s modern enterprise, business and IT stakeholders must radically change how they partner together in order to extract the most useful insight for all users. An “all hands on deck” approach to data and analytics is needed.
These are challenges CIS 7.0 is engineered to address.
Self-Service Data Gateway for Business
Leveraging the new class of easy-to-use business intelligence tools such as Qliktech, Spotfire and Tableau, as well as the increasingly powerful and ubiquitous Excel, business users have become adept at visualizing and analyzing data without IT’s help. However finding and accessing that data remains a big challenge, with long IT lead times frequently the only option. That is until CIS 7.0.
Business Directory is the first data virtualization offering designed exclusively for business self-service.
CIS 7.0’s Business Directory is the first data virtualization offering designed exclusively for business self-service. Users apply search and categorization techniques to quickly find the data they’re looking for, and then use their business intelligence (BI) tool of choice to query it. The result is far faster time to insight and translates to better business outcomes sooner.
With Business Directory, IT creates a new partnership with the business. IT provides secure, curated data sets to the business. Then the business adds domain knowledge and analytic value on the path to insight. Using CIS 7.0’s scalable platform, IT can manage security profiles ensuring users see only the data for which they’re authorized. And as new business needs arise, IT can use the CIS Studio to quickly add new data sets, often in a day or less.
Connecting Data Globally, with Control
Data virtualization’s ability to connect and deliver data with agility is well understood. As data has become increasingly distributed, data virtualization adoption has skyrocketed. This has led to highly complex, global-scale data virtualization deployments.
CIS 7.0’s Deployment Manager simplifies management of the mega-scale CIS 7.0 deployments. Deployment Manager automates the transfer views, data services, caches, policies and more across multiple CIS 7 instances. These faster, risk-free deployments provide the scalability desired, ensure compliance with software development life cycle processes and other governance practices, and reduce the cost of IT administration.
More Data Sources For Better Analysis
Everyone knows that if you can access more data sources, you can drive better, data-driven business outcomes. However the rise of new fit-for-purpose data stores from graph databases to Hadoop, as well as highly specialized industry solutions, such as the PI System in upstream energy, has made it difficult for IT to integrate all these sources at business pace.
CIS 7.0’s Data Source Software Development Kit (SDK) accelerates data adapter development. Using Data Source SDK, Cisco, system integrators and customers can build high-performance data virtualization adapters for emerging and industry-specific data sources quickly and in a way that leverages Cisco development best practices and market-leading, query optimization techniques.
Winning on the Data Battlefield
With Big Data, Cloud and the Internet of Everything disrupting data integration, the time is right for CIS 7.0. Business Directory addresses business demand for self-service data. Deployment Manager provides global-scale data virtualization with control. Data Source SDK extends data virtualization’s reach. These breakthroughs, on top of the industry’s leading data virtualization platform, will help our customers drive better business outcomes and outpace their competition.
CIS 7.0’s time in now! So get ready!
For those of you attending Data Virtualization Day, check out a sneak preview at the Solution Showcase. General availability via Cisco Support is scheduled for next month. Cisco Advanced Services and our many ATP partners are set to provide migration assistance.
To learn more about Cisco Data Virtualization, check out our page.