Technology has been advancing and lives are getting improved everyday now. Businesses are doing everything to exceed the expectations of their customers and IoT is the next promising step towards the same. Internet of Things, IoT in short, is a platform that collects and analyses data from our regular use appliances with the aid of the internet and gives out information to both the manufacturer and user. This information could be about the servicing that is required or a part that has become dysfunctional and needs to be replaced. The huge amount of data that is generated by these sensor equipped machines is called the Big Data (no surprise there, hopefully).
Big Data has always been present but in earlier times, it was simple and could be easily recorded on Excel spreadsheets and analysed as such. The type of data wasn’t as complex back then and it could be easily filled into the cells of spreadsheets. Now, however, the format of data that is being transmitted is not very fixed and it could be in forms like audio, video and pictures. This data cannot be collected and analysed by traditional programs. New softwares (Cloud) are getting developed that can help separate the valuable information and recognise the trends or patterns if there are any. Examples of the same can be seen in apps like Netflix and Amazon Prime when they give you recommendations on the basis of your previous watch.
The big data is characterised by 4 Vs: volume, velocity, variety and veracity. The volume of data could be trillions of gigabytes and has to be stored at multiple locations. The velocity of transmission and collection of data currently, is unprecedented. ‘Variety’ refers to the format of data that can be both structured and unstructured but equally important. Veracity or the accuracy of the set of data that has been generated by a source and needs to be verified in case of redundancy or just to check if the data is suitable for analysis by a particular software. The role of data analyst becomes important with this discussion and it will be the most sought after profession eventually.
IoT and Big Data are very similar but yet very distinct at the same time. IoT seeks to analyse the data when it is transmitted and the data then contributes to the Big Data. A company can use both the technologies at the same time. For example, a sensor in a car could emit a signal that the car is in need of servicing and the owner might get a notification reminder for the same. The data of the times all the cars of the same company required servicing can be stored and used for predictive analysis for newly manufactured cars.
The integration of the two technologies can help the both consumer and seller in the long run. The businesses will make more profits as they will become more efficient in catering to the needs of their customer and the overall costs will get reduced as well. The customer might be hesitant at first, for the idea of their appliances tracking their usage behavior seems like invasion of privacy, but it will save their time and money in maintenance and replacement.