Over the past few years of being immersed in the Internet of Things (IoT), I have found that customers have very specific problems they are trying to solve; e.g. gaining energy efficiency, early fault detection or remote diagnosis and maintenance of equipment. Decisions are driven by the need to reduce Operational Expenditure (OPEX) and save on Capital Expenditure (CAPEX).
With all the data generated from IoT devices, having strong analytics and visualization capabilities can help in making accurate decisions and taking timely action thus achieving these critical business objectives. Of course, while this sounds appealing, it’s not quite that simple. In order to achieve meaningful value through reductions in OPEX and/or CAPEX, we need to effectively address data collection, analytics, visualization and control. Absent those essential elements, we are not able to harness the power of the IoT.
Read the full article Internet of Things: Realizing Business Value through Platforms, Data Analytics & Visualization on LinkenIn.