IS YOUR ORGANIZATION IOT READYJune 6, 2018
Leader: “If you marry IoT with analytics, retailers can figure out customer preferences, which can be used to run promotions to increase the chances of a sale,” says Ranjit Satyanath, Head of Technology Operations.
The internet of things is taking over the digital age. From space exploration to coffee machines, it is changing the way devices are designed, the way they communicate and what transpires once a product is pushed in the market.
IoT is considered to be one of the main drivers of digital transformation and industry 4.0. At the same time, it is altering the manufacturing industry, different verticals, organizations and people.
According to IDC, by 2020 the global spending on IoT across markets will reach USD 1.229 trillion at a CAGR of 15.6 percent.
In the next decade, billions of sensors driven by a software and connectivity will be a reality. Nevertheless, with plenty endpoints transmitting data, it will require robust infrastructure, storage systems, and network.
According to 451 research, businesses implementing IoT analytics are planning to increase their storage (32.4 percent), network edge equipment (30.2 percent), server infrastructure (29.4 percent) and cloud infrastructure (27.2 percent) over the next 12 months.
The numbers connected with IoT are huge. For example, analysts believe that the number of connected devices, comprising non-hubs services, such as sensor nodes and accessories, to double by 2020. Moreover, when gathering metrics from IoT devices, businesses need to monitor a solution that takes a data agnostic approach to collection.
The IoT traffic demands close scrutiny, particularly if the goal is to comprehend the activity occurring at any particular time. In this environment, it may not be possible to troubleshoot a performance issue occurring every picosecond. Higher data needs to be produced on demand to offer visibility.
The best idea would be to embrace a platform capable of high frequency polling down to the second. In short: IoT helps to analyze everything at a granular scale.
Preparing for the connected future
As reported in CIO publication, Ranjit Satyanath, Head of Technology Operations at Infiniti Retail says, “From an IT perspective, we are moving a lot of our tech onto the cloud,” says Ranjit Satyanath, Head of Technology Operations at Infiniti Retail. “With cloud we are able to react to business requirements faster and can turnaround solutions in a much quicker time.”
Satyanath highlights that from a retail perspective, IoT has a huge role to play across the organization on the storefront as well as in the warehouse. “If you marry IoT with analytics, retailers can figure out customer preferences, which can be used to run promotions to increase the chances of a sale,” he points out.