Data Analytics in IoT: What Is It & What's Its Role?

Data Analytics in IoT: What Is It & What's Its Role?
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These days, data and IoT are very much connected in the world we live in. Both are very important. The amount of data in between keeps growing at a rapid pace. Of course, it’s no surprise because technologies like the Internet of Things (IoT) have amazing potential to change our personal and professional worlds. Of course, the key ingredient to getting the best out of IoT is collecting, processing, and visualizing the massive volume of data that comes in many different formats. This is where data analytics comes in. Let’s see how it works. What is IoT Data Analytics? Data analytics for the Internet of Things (IoT) refers to the process of analyzing data acquired or generated by IoT gadgets using analytical tools. The real purpose of IoT data analytics is to help businesses make informed choices by transforming huge volumes of unorganized data from disparate devices and sensors into relevant, useful insights. In addition, IoT analytics helps with the discovery of patterns in data sets, such as real-time and historical information, which can be utilized to formulate assumptions and make adjustments. The Role of Data Analytics in IoT IoT data analytics involves four main components − IoT Data collection & storage Sensors built into IoT devices gather data about environmental factors including temperature, pressure, and mobility. For further analysis, this information is sent to a centralized server or the cloud. Effective data storage is also essential for the large amounts of data produced by IoT devices. IoT Data Processing & Analysis It is necessary to analyze data to get useful findings from it while doing IoT data analytics. Data processing techniques such as data cleaning, modification, and normalization are used to make the data accurate, logical, and analysis-ready. The IoT data analyst also uses machine learning, statistical, and other technologies to analyze data for hidden structures and trends. The IoT data analyst also uses machine learning, statistical, and other technologies to analyze data for hidden structures and trends. IoT Data Visualization Presenting insights and discoveries in an easy, digestible format is a key part of IoT data analytics, which is why visualization tools are used. Diagrams, maps, and graphs are all examples of visualization tools that can help us understand the data and make informed decisions based on such results. That way, users may provide feedback that considers the insights gained from analyzing IoT data. Use Cases of Data Analytics in IoT So now, you know how data analytics works in IoT, but that’s not enough on its own. We need to see how we can use the power of IoT data analytics in real life. Here are some of the most popular applications of IoT data analytics. Factory Floor Security & Safety Think about a warehouse that uses 24-hour surveillance. Motion detectors equipped with IoT sensors may "pick up" what level of activity defines an "event," and then send an alarm to the operator if the level of activity rises over this limit. The ability of these sensors to find strange things will only get better over time as they collect more data. This is because machine learning improves with more data, unlike traditional methods, which need humans to define complicated criteria for what constitutes an event. Better Interactions with Customers Every business, from stores to hospitals, is always working to improve the customer service they provide. IoT data analytics could be used to help with this difficult process. Through the analysis of IoT data, businesses can better foresee their customers' needs and expectations. A client who has been browsing blenders online may visit a store and immediately find what they want through the IoT data analytics tool. The system may even send a discount coupon in the customer's name. IoT data can also help with marketing and advertising for businesses like grocery stores, restaurants, and manufacturers. Better Maintenance By monitoring vibration, temperature, and other metrics, IoT sensors combined with data analytics might help manufacturers decide when their machinery needs servicing. During production, the digital twin technology may notify workers of impending breakdowns and downtime. This helps with both routine and predictive maintenance. Predicting when equipment needs servicing helps with maintenance scheduling, which in turn reduces breakdowns and saves money. The Internet of Things (IoT) provides real-time insight into equipment status and warns personnel about possible problems. There are many benefits to implementing predictive maintenance and avoiding unplanned downtime. Wearable Devices Wearable gadgets now do much more than monitor steps. Connecting your gadgets to the web enables you to monitor the workout routines of your friends, challenge them to friendly competition, exchange messages, and even take calls. When you join up with a fitness company, they may use this information to create a program just for you. Things like diet, motivation, and overall health all play a role here. The newest wearables can accurately identify cardiac diseases by monitoring heart rates and rhythms. Real-time Control Over Business Processes & Energy Bills With such hands-off IoT Analytics, you can keep an eye out for suspicious trends in real-time and notify the right people. There has been a significant investment in IoT Analytics by manufacturers across all of the most important sectors, including electronics, transportation, chemicals, consumer products, and more. These sectors have already begun implementing smart manufacturing practices, which include utilizing new production equipment with sophisticated sensors. This opens up several avenues for monetization, which is useful for both income generating and cost saving. Companies may find ways to cut energy use by evaluating data on energy use, temperature, and occupancy. It aids businesses in cutting their energy bills and minimizing their environmental impact. Healthcare Devices It's incredible how the Internet of Things has revolutionized healthcare. There is a level of interactivity between humans and applications that was previously unimaginable. In addition to better health results, this may also significantly save healthcare expenses. The incorporation of sensors into medical equipment and access to real-time, accurate data allow doctors to better plan and prepare for medical crises. Diagnostic tools, surgical robots, home exercise machines, pharmacy dispensing systems, and implanted medical devices all use these sensors. To monitor patient conditions in real-time, sensors gather and analyze this data via analytic tools. Equipment monitoring also helps save downtime and prevent unexpected breakdowns. Competitive Edge The Internet of Things (IoT) is a must-have in the modern technological age, and the market is flooded with people who create and improve IoT applications. But, not all of them can easily collect, analyze, and accurately process the vast volume of data that comes from these IoT devices. A reliable data analytics tool can help you do just that, and stay ahead of the curve. Smart Agriculture Using knowledge from IoT data, connected field equipment can do its job. The analysis must take into account time, place, climate, altitude, and local surroundings. With the help of weather forecasts, irrigation systems may be fine-tuned to provide the ideal amount of water. Supply Chain Optimization Companies can find ways to improve their supply chain processes by looking at details about things like stock levels, shipping methods, and delivery times. It aids businesses in cutting expenses and gaining happy customers. Challenges of IoT Data Analytics So, with such a wide range of benefits in IoT data analytics for different industries, it’s no surprise that many companies look to incorporate these tools in their plans. But, to get the best out of the IoT analytics, they need to overcome several challenges: Integrability Managing and integrating data is one of the hardest parts of IoT analytics. The data produced by IoT devices comes in many forms and protocols, making integration a hassle. The sheer volume and variety of data produced by IoT devices make it challenging to properly evaluate, store, and manage it. Companies need robust data integration solutions to ensure data is accurate, consistent, and safe. Data Reliability Another major obstacle to effective IoT analytics is poor data quality. Incomplete, false, or contradictory data is a common problem with IoT data. This is because problems with network connection or faulty IoT devices might cause data corruption or loss. Another source of data error is that IoT devices might offer information that will be useless in the analytics process. Companies must use data cleaning & validation procedures to ensure data accuracy, consistency, and validity for analytics. Security The data generated by IoT devices is both valuable and private for businesses. Data may also include significant company-related information. However, there is a major security concern since the devices are constantly online. Organizations need robust security & privacy measures to ensure data is kept private and safe. Scalability Big data processing and analysis in real-time is at the heart of IoT analytics. It requires a lot of memory and CPU power. As the number of IoT devices increases it may become difficult for businesses to keep up with the growing demand for computing resources and data storage. Because of the exponential growth of connected device data, businesses must implement scalable analytics systems. Interoperability What this implies is that different kinds of gadgets can talk to one another. Since IoT devices may generate data in multiple formats and guidelines, interoperability is critical in IoT data analytics. Companies need systems that can process several data formats and protocols to ensure that their data is incorporated and analyzed correctly. Employee Training The huge volumes of data produced by IoT devices need an expert workforce capable of analyzing and deriving insights from this data. However, experts in data science and analytics who are comfortable with IoT data are hard to find. In order to have a competent staff that can manage IoT analytics, businesses need to create comprehensive employee training programs. How to Find the Right IoT Data Analytics Service Provider? There is little doubt that IoT analytics allows companies to become more flexible and adapt more quickly to ever-evolving marketplace demands. Businesses should be careful when looking for IoT development services because they may run into any of the challenges we mentioned above. Overall, it's better to find a tool that: Integrates easily with the company infrastructure: Businesses want IoT analytics solutions that can work with their existing corporate systems. This allows organizations to oversee their data across numerous applications effortlessly. Offers Cutting-edge Security Safeguards should be an integral part of any IoT analytics solution. It's usually best to have a private network specifically for IoT data, which guarantees maximum security. Can Cater to Your Specific Needs Users of IoT analytics solutions should be able to execute their own analytical techniques and build their own dashboards for managing their data. This was one of the main talking points of LANARS at IoT Tech Expo Europe. Data Analytics in IoT: The Future If your company is looking to the future, IoT data analytics is the way to go. Since it is already difficult to integrate data from diverse sources, you need to have a reliable approach to handle such diversity in IoT data. IoT data analytics show that this is the actual answer for most businesses. The analytics solution is tailor-made for the challenges of interpreting IoT data, providing valuable insights into productivity, and market knowledge, and offering an edge on the competition. FAQ Why do businesses need IoT data analytics? Insights into consumer behavior and industry trends gleaned from IoT analytics may help organizations spot new expansion opportunities. What are the main methods for data analytics in IoT? To fully use the potential of data created by IoT devices, data analytics methods play a crucial role. Data gained from predictive, descriptive, prescriptive, and diagnostic analytics help businesses make better choices and enhance their operations. What is a major challenge in IoT data analytics? You might not be able to get as many ideas from your data if you don't know how to read different sets of data extensively. How can I overcome IoT challenges? To solve these challenges, think about the parameters and limitations of your IoT project, and find a fitting analytic tool. If you want your IoT devices to communicate with one another, you'll need to use the right protocols and standards. We can offer you a customized IoT analytics platform to help you here. Just contact LANARS and get a quote.