There’s been a lot of buzz about the Internet of Things (IoT) the last few years – how it’s going to wire up the world, from coffee makers to cargo ships, and provide visibility, control and insight to consumers and businesses alike. The question is: How will people get and use all this data?
Makers of Business Intelligence (BI) software are already under pressure to make their tools more intuitive, so business people can use them without help from their IT departments. What about the rest of us? Who’s going to build the interfaces that let me start the coffee maker from bed, warm up the car, monitor my power usage and check my daughter’s Internet chat history? Google is on board to help, but it’s going to take a whole new business ecosystem to manage, integrate and serve the data, much less make it accessible and actionable.
We need heavy-duty technologies to help us organize and derive meaning from raw data, starting with real-time data platforms and identity resolution capabilities. And we need more people who can analyze the data. Today, only .5% of the world’s data goes through any analysis at all, according to IDC’s Digital Universe study.
Why does it matter so much, that we all have access to the tools we need to get, analyze and mine our data? Because the value of the IoT is in the data, says this Wired article. Nearly $2 trillion dollars in economic value, if Gartner’s estimate is correct. That’s a lot of potential revenue for the companies that figure out how to manage and monetize the data tsunami that’s headed our way.
The next generation of BI will be user-friendly, mobile, flexible and self-service, meeting the needs of the masses within their respective lines of business. With these tools in place, there’s no telling what insights savvy business people – and maybe regular Joes like you and me – will be able to do to change the world we live in.