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Iot Data Management: Course Code: Csio4700 Course Name: Iot For Industries
Iot Data Management: Course Code: Csio4700 Course Name: Iot For Industries
• Product development
• Asset wear-and-tear
• Personalization
Product development
• IoT data management can help businesses understand the usage patterns of customers.
• These usage patterns can be incorporated into the design and development stages.
With this approach, businesses can identify errors in their current design and make
changes accordingly.
• IoT can also allow businesses to carry out field tests for their products. In this
scenario, IoT data management can help in identifying potential wear-and-tear areas
and expected product lifetime.
• IoT data management helps organizations understand how environmental conditions
and user behavior can affect the performance of their products.
• IoT sensors can also be used to measure product performance metrics. The data
collected by these sensors can be used to improve future versions of products. Such
metrics can help identify possible glitches, future customer requirements, and potential
failures in products.
Asset wear-and-tear
• Studies suggest that 80% of customers are more likely to purchase products
when businesses provide personalized experiences.
• Therefore, businesses must offer customer-centric personalization to increase
their sales. IoT data management techniques can allow business leaders to
analyze customer data.
• With careful analysis, businesses can gain valuable insights into customer
behavior. Customer data can be collected over time and paired with machine
learning platforms to predict customer needs.
• For instance, in case a customer orders desserts during a specific time slot using
a food delivery app, the app can send various dessert recommendations in that
time slot.
CHALLENGES FOR IOT DATA MANAGEMENT
• Scalability
• Data collected using IoT sensors are expected to grow in volume
exponentially. Research suggests that IoT devices would generate more than
500 zettabytes of data per year by the end of 2019. Hence, businesses can
face a major issue of decreasing storage space in IoT data management.
Also, business leaders have to explore how they can share and optimize the
gathered data. For this purpose, business leaders can ask themselves the
following questions:
• Can the existing infrastructure handle large volumes of data?
• Which platform can be used to manage the obtained data?
• Who can access the collected data?
• What will be the expected rate of data growth over the next five years?
CHALLENGES FOR IOT DATA MANAGEMENT
• Security
• The generation of large data volumes can attract cybercriminals, who wish to
gain illegal access to crucial data. Several big players such as Google,
Facebook, Marriott, and British Airways have been victims of sophisticated
cyber attacks. Sensitive data of hundreds of millions of users was
compromised in these cyber attacks. Hackers can also target operational
data, which could disable critical processes in an organization.
• Various network vulnerabilities and newly-created malware strains can
exploit loopholes in an organization’s security protocol to illegally access
data. Hackers can also launch automated cyber attacks to hack into an
organization’s network. Additionally, lack of tech-savvy staff may click on
phishing emails and download malicious files, exposing sensitive business
data.
STRATEGIES TO IMPLEMENT IOT DATA MANAGEMENT
• Before adopting IoT solutions, business leaders must identify potential IoT use
cases for various business procedures.
• For instance, a retailer may use IoT data to understand customer behavior, while
a manufacturing firm may use it for predictive maintenance.
• With this approach, business leaders can make informed decisions while
choosing IoT solutions and understand their data storage and management
requirements.
Hire skilled professionals
• Businesses must educate their employees about IoT solutions, their benefits, and
IoT data management. For this purpose, organizations can also incentivize
educating other employees about IoT.
• The issues of scalability, security, and data gravity can be addressed more
effectively using existing IoT data management platforms.
• Such platforms can allow businesses to deploy, connect, and scale their IoT
infrastructure.
• Instead of building an IoT infrastructure from scratch, organizations can work
with IoT platforms that offer a global footprint and access to IoT devices, cloud
infrastructure, and networks. This approach can prove to be cost-effective for
small and medium businesses.
References