As we all know IoT is becoming a mainstream topic in technology circle nowadays and its not far from being a common term like IT. Each day, new machines, sensors, and devices come online and feed information into data systems.
The biggest change we see is not only the device and things getting connectivity, its the data which they generate. Traditional databases and analytics architectures will always be vital, but the IoT calls for specific capabilities to handle diverse data constantly streaming
from untold numbers of sources. IoT data is complex, vast, and fast-moving.
As the data sources are very varied and produce what we say as “ unstructured” data, the need to manage and analyze them has also become the need of the hour.
The cost reduction in sensor and processor cost due to the mobile technology renaissance which we have come across in the last decade, the IoT devices are very economical and thus easy to deploy than ever before before. Thus organizations which were deriving there insights from the traditional analytical methods, are shifting to IoT data to get new informations and it is found that the rate of data is growing more than 30% per year atleast in a given industry. The only concern is not the volume of this data generation, it is also also the capability to digest this data which is very varied in nature. The growing concern is that the current traditional data management system are not capable of handling it. There are other major worries also like time to decision, if not reduced, the real potential of IoT is still far ahead.
So, its not only changing the way we do traditional analytics but also the decision making process. But there is excitement about the possibilities that IoT brings in terms of diversifying data sources and enabling analytics to be applied to new areas, such as the monitoring of sensors attached to manufacturing devices.
And it is also believed that IoT will bring more jobs for Data Scientist with IoT knowledge. We believe that as the variety of sources for that data is increasing with IoT new kind of information and knowledge obtained from it will be the new stimulus in increasing efficiency.