ABSTRACT: Although a staggering amount of information is beginning to be gathered every day from IoT connected products, the companies that have access to it are not necessarily using that data effectively. As Tim Hartford of the Financial Times notes, “Big data has arrived, but big insights have not.” Useful data analysis requires much more than the simple collection and summary of data. Companies must have a long-term IoT analytics strategy in place to provide significant, actionable insights that will fuel their business transformation into a connected product company. This presentation covers IoT analytics industry trends and advocates for a phased maturity model approach for creating a smart IoT strategy that starts with basic data collection and stream analytics, moves through descriptive/diagnostic analytics, and culminates in predictive/prescriptive analytics. This presentation ends with practical tips and architectural tradeoffs for creating a future-proof IoT roadmap based on connected devices and data.
Mark Benson is the Chief Technology Officer at Exosite, an Internet of Things (IoT) platform company based in Minneapolis, MN. Mark is a regular speaker and writer on the intersection of technology, business, and society as it relates to product development, technology leadership, strategic planning and execution, intellectual property portfolio management, software architecture, information security, competitive positioning, and organizational behavior.