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IoT: Wealth of data

Posted on 29/10/2018 by Fay May Su

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We were back at IoT Asia for 2018 in conjunction with the Cloud Expo Asia Singapore. Walking through many companies in the halls of Basement 2 at Marina Bay Sands on 10 & 11 October, we noticed an increase in the showcases from past year's events. I had the opportunity of talking to industry experts across the plane and gathered different views of who, what and where IoT is going next.

The journey started with what the future holds for IoT since we last talked about this as there were some uncertainties among the floor on its existence. I stumbled upon the director of cloud-based data platform, who shared his idea of where we can find this hot tech. It is in fact unfolding all around us, down to our daily commutes on ride-sharing apps. He pointed that the IoT in it is essentially the collection of data from different sources, pooling it and then sharing the information back to all of us. Tapping into the driver and passenger locations from their devices, the app hooks up the parties in the ride sharing service seamlessly, by doing the background work of talking from machine to machine.

It doesn't stop there; an expert from a provider of business intelligence solutions, goes beyond the cumulative connectivity of IoT. What this external efficiency can do is to make our money work harder. When we can be in control of what we need in the utilisation of our home appliances for instance, we gain more economical power to tell our machines when we want them to be in power saving while being away. This simple example can be applied across industries on a larger scale from healthcare to manufacturing, estimating a $1.2 trillion in cost saving from improved productivity based on IoT Trend Report by logistics DHL and Cisco consulting services. The manipulation of data is readily available with another logistics company I approached, it is just a matter of customisation based on who needs it.

If IoT seems to be around us and ready to be called out, why is there confusion and gaps in the concept still? One missing piece is the lack of connectivity and compatility of the devices. At the end of the day, I caught up with the technical manager of a network connectivity solution for IoT. In the early days of coming over from France to Singapore several years ago, they had to resolve compatibility issues with the differences in sensors and connectivity between countries. Since then, there has been changes in the ever-evolving technology, signaling the flow of foreign brands and technologies to be imported and adopted. Similar names and upcoming local telco providers have also started cropping up with the simmering demand for IoT. With the creation of such intricate machine-to-machine communication, new companies will need to go through the cycle of overcoming technological gaps with additional investment and alliances.

As we continuously work towards enabling connectivity, it's undeniable of what IoT has at stake for us to reap its data. According to the study by IDC, data created by us all in the digital universe will stand at around 44 zettabytes, or 44 trillion gigabytes in 2020, doubling every two years. At the tip of the iceberg, only 0.5% of the web’s data was analysed and 3% was processed in 2013. 

How would you use this information to step ahead? Whether you're a data scientist or solution architect, I'd be glad to hear more from you:

Thanks for reading!

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