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The Key Advantages of IoT Analytics
Preventing damage is one of the advantages of using analytics and IoT technology in a commercial setting and the enhancement of performance. These are only a few of the advantages of merging IoT with analytics, and as more sectors adopt this cutting-edge technology, the list will grow.
Fremont, CA: IoT analytics is the use of data analysis tools and methods to derive value from the massive amounts of data created by connected internet of things devices. Unstructured data, such as the stream of data made up of your energy usage statistics, is converted into analyzable data by data analysis tools like business intelligence and business analytics. The Internet of Things collects data from connected devices' surroundings and provides it to users to assist them in gaining insights and making decisions.
For example, IoT analytics capabilities allow the software that connects your smartphone to your thermostat to analyze how much energy you use running the A/C during a hot summer day. The analysis will then be visualized in an easy-to-understand graphic, usually, a bar graph displaying your usage by month, year, week, and so on.
This is an instance of a canned or pre-built report. This form of report is available on most consumer-grade IoT devices, such as smart home devices, where users can choose from various predefined report types to obtain insights into multiple sets of data.
The industrial Internet of Things is a more advanced version of this. Sensors attached to industrial equipment such as machines, pipelines, smart meters, weather stations, and more are used to collect data in this area. As a result, analytics can have a far more significant impact in this area of the IoT, influencing corporate practices, projections, ROI, decision-making, and more.
We have an insatiable desire for technology and innovation in the digital age we live in. Companies are always looking for new ways to improve their operations, and advanced analytics capabilities and the Internet of Things are both on the rise.