IoT and Big Data Can Be A Match Made In Heaven
There’s a closer relationship between big data and the Internet of Things [IoT] than most people realize and even though there’s a lot of hype surrounding the two technologies, these can have an additional advantage for enterprises beyond just data generation.
According to a study done by IoT Analytics, a global firm that track Internet of Things companies and trends, be there is a head-to-head race going on between 5 companies: Intel, Microsoft, Cisco, Google, and IBM. like Amazon, Google, and Microsoft are doing their bits to make early inroads, into the consumer IoT segment.
According to a report by IDC, global IoT spending will experience a compound annual growth rate (CAGR) of 15.6% over the 2015-2020 forecast period, reaching $1.29 trillion in 2020. IDC forecasts a 50% increase in revenues from the sale of big data and business analytics software, hardware, and services between 2015 and 2019. Services will account for the biggest chunk of revenue, with banking and manufacturing-led industries poised to spend the most.
One interesting data point from the IDC research above is that much of the investment is happening in select verticals like manufacturing and banking. You can argue that manufacturing started doing IoT before it was called IoT. There also lies immense opportunity for organizations to combat security threats with IoT and big data.
When IoT meets Big Data
When innumerable devices are connected through IoT, we can well imagine the amount of data it will generate. However, one of the major problems is how to handle an increasing amount of data, with a variety of data types and data sources, in order to meet application-specific performance requirements. IoT works with devices on the network and gives an embedded and cloud infrastructure which helps to manage, control and automate data across different networks.
With industries being aggressive with their acceptance of Big Data into the enterprise operations, it presents a strong case for market expansion, as more decisions are taken based on data, more specifically data analytics tools.
However, all the benefits of big data will only be borne, when the adoption and core function of data management, is done in a structured manner. Since the world by large is still witnessing the early stages of big data development and use cases, some guiding factors could certainly make a difference.
Only 33% of companies are leveraging the data they collect to inform any type of useful insight, states Forrester. This is primarily because the data collected are stored in specific units in an organization. But real advantage of analytics can be reaped only if data collected from within the entire organization is used. Organizations can gain from IoT and Big Data if there are open lines of communication across every section of the organization.
One arena where IoT is tied with Big Data and shows its real prowess is organization’s security strategy.
IoT and Big Data as enterprise security tools:
A global survey by Citrix and the Ponemon Institute on IT security infrastructure found that 83 percent of businesses around the world believe that they are most at risk because of organizational complexities.
This shows that organizations are looking for an IT security framework but they are not completely equipped to mitigate risks associated with IoT.
The study also points out that 70 percent of organizations believe that big data will play a crucial role to minimize risks related to security. These indicate that organizations are not satisfied with their current security structure and see big data as a potential security tool.
Setting organization’s security in right direction:
Referring to the Citrix and the Ponemon Institute study again, current security paradigms are not sufficient for protecting access to apps and information. Only 37 percent of organizations feel they have a good handle on protecting access to information on devices, servers or in the cloud. And only 40 percent feel they are effective in protecting their apps and data.
This is an issue which big data can resolve. IoT on the other hand manages interactions in a complex fabric of data, devices, objects and applications. IoT can provide the required data from several sources across the entire organization to the big data analytics solution. IoT can also block the loop on the security terminal. Thus, IoT and Big Data can work wonders when routed in the right direction.
- GDPR Law Boosts Cyber Security Jobs in India: Study
- When Securing Customer Loyalty Becomes Critical
- Top Enterprise Software Tech Trends So Far In 2018
- What's Stopping CEOs From Meeting Growth Targets
- Leveraging Cloud Based Payments Effectively
- 8 Out Of 10 Shopping Apps Have Security Flaws: Report
- F-Secure's New Security Offering Blends Human Expertise And AI
- More SMBs Investing In Data Security, CRM: Study
- 85% Companies Not Ready For GDPR Compliance: Report
- Why Big Enterprises Are Leaving Cloud For Other Tools