IoT Experts Should Have Sound Big Data & Analytics Skills
Decision makers are prioritizing big data and analytics expertise in their hiring decisions, stating that having these skills is critical for any candidate to be considered an IoT expert. According to a recent study by Canonical, titled: Defining IoT Business Models, while three-fourths of senior executives are considering big data and analytics expertise in their hiring purpose, additional skill sets in demand today include embedded software development (33%), embedded electronics (32%), expertise in IT security (31%) and an understanding of Artificial Intelligence (AI) (30%).
Canonical defines IoT professionals as those actively working within the IoT industry in a broad spectrum of roles including product developers, manufacturers, vendors or engineers and found that 57% of IoT professionals support the standardization of IoT platforms as a means of ensuring better IoT security.
The study found 75% of IoT providers say that data analytics and big data skills are the most in-demand skill set they look for in candidates. Embedded software development expertise is a close second at 71%, followed by IT security (68%) and embedded electronics (64%). Three out of every ten IoT providers say that finding candidates with data analysis and big data expertise is the most challenging task.
Source: Internet of Things Business Report, Defining IoT Business Models
When it comes to accomplishing higher levels of IoT adoption across enterprises, 34% say quantifying business benefits is essential. Being able to evangelize and improve the understanding of IoT benefits (24%), improving security (17%) and attaining greater integration with other platforms and devices (11%) are also foundational to accomplishing higher levels of adoption. Data use and insight will increase as IoT providers recruit more developers, engineers and software architects with big data and analytics expertise, the study said.
According to the study, the top three benefits IoT will deliver include, improving the quality of life (26%), gaining greater insight into business (25%) and creating new services and categories (25%). IoT’s potential to be the catalyst of entirely new business models and supporting services is one of the key factors driving VCs to invest in this space.
One aspect of what VCs are looking at is how IoT can revolutionize manufacturing. Capturing data at the machine level to track, predict and improve overall equipment effectiveness (OEE) is one of many areas IoT platforms can reduce costs and improve quality.
The study also notes, nearly 80% of IoT providers predict their greatest source of monetization will be from value-added services and maintenance. IoT platforms and technologies and ideally positioned to revolutionize business models today, with the study finding sales of value-added services and maintenance having the greatest potential for revenue gains.
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