Are You Getting the Most Out of Your IoT Data?
The IoT is massive and getting bigger every day. How big? Gartner predicts that there will be over 50 billion connected devices by the year 2020. And that level of growth is driving a data problem for the market. How do you address the exponential increase in data streams?
Rob Patterson, VP of Product Marketing at ThingWorx, recently outlined the challenges of IoT data and the available solutions in a webcast called “Capitalizing on Your IoT Data with ThingWorx Analytics.” In this webcast, Patterson notes that current analytics tools weren’t built for the IoT, and that applying traditional analytics approaches won’t work due to the volume, velocity, and variety of IoT data.
The IoT data growth presents new and unique challenges to the market, especially for end users and developers. “The IoT does not allow for waiting to see what the data says,” said Patterson. He also noted that an IoT solution without real-time operational analytics capabilities delivers significantly less value to users.
The Challenge of Traditional Analytics
Companies who have embraced what’s known as traditional analytics tools may find themselves at a loss when it comes to the fast-moving nature of IoT data. Operational reporting offers narrow insights, manual data discovery is resource-intensive, and legacy predictive business analytics are too complex and cumbersome. On top of that, all of these methods are slow and cannot offer insights in real time.
“There’s very few people inside an organization who know how to integrate and maintain these traditional systems in an IoT environment. When doing this in a manual way, it becomes very complex,” said Patterson. “By the time you are alerted by any of these tools, you’re already too late. Your factory is down. Your crops aren’t being watered.”
ThingWorx Analytics, part of the ThingWorx IoT platform, gives you the tools to see what’s happening within your IoT ecosystem. It enables you to add real-time pattern and anomaly detection, predictive analytics, and contextualized recommendations to IoT solutions, without the need for expertise in mathematics, statistics, or machine learning.
Watch the webcast replay to learn how ThingWorx Analytics tackles the toughest IoT data challenges.