Data collected by global sensors presents countless opportunities for the way we derive the intelligence from the new form of connected world. The transformation of traditional industries such as healthcare, manufacturing, banking, industrial etc is already witnessing these signs of revolution, but the tsunami due to this is yet to arrive in the form of data generated by the devices in re-monetisation with Data as a Service (DaaS) in parallel to multilateral use these data for personal, institutional, commercial for ideating a life cycle of continuous improvement.
“…but the potential challenge comes in terms of value creation from this integrated intelligence from contextual data …”
Today with the launch of IoT networks around the world, the rush is to have the connectivity in place (from sensor to application), but the real potential challenge comes in terms of value creation from this integrated intelligence. Whether it is agricultural soil, air quality, safety tracking, or a watch telling you more than a time, the seamless connectivity of such low power sensors will enable a powerful and unstoppable stream of data giving a whole new dimension of the way connected objects will shape the future of our living.
The significance of this contextual data (ah, not from the YouTube & Netflix of the world) comes from the sensor based connected device which generates a notion and inference from device and the environment around it, such visualization of contextual data wasn’t previously possible.
“…significance of this contextual data comes from the sensor based connected device which generates a notion and inference from device and the environment around it…”
Let’s take an example of personal health metrics, the health monitoring watch will have an embedded accelerometer to sense the movement and with every move the contextual data about the personal activity like body temperature, calories burned, heart rate is measured and documented as a recurring stream of data, Now that we extend this to larger set of people working collectively in an industrial plant or construction site, it creates an integrated intelligence that will not only allow doctors to readjust the treatment, or companies to improve the safety but re-monetize the data by providing healthcare service providers and inturn the pharmaceutical companies to better understand the drug resistance with their environmental impacts and human activity.
The derived benefits hence can be personal, institutional and commercial and as a matter of fact that can reinvested to create a complete life cycle of continuous improvement.
“…benefits hence can be personal, institutional and commercial and as a matter of fact that can reinvested to create a complete life cycle of continuous improvement…”
So far, the data re-monetisation has been limited to usage, behavior, buying or user demographics, but analyzing these multiple sensors’ discrete data streams can uncover co-relations and dependencies that have been unheard of, such is the expected tsunami of contextual data within a data lake.
Thank you for reading this, you might also be interested in a similar article written back in early 2017 to cover broad e2e ecosystem https://www.linkedin.com/pulse/how-iot-drive-big-data-cloud-ai-bots-dadheech-girish/
