There has been constant growth in data over the last couple of years. Its mainly fueled by the advancement of the internet, mobile technology and soci...
There has been constant growth in data over the last couple of years. Its mainly fueled by the advancement of the internet, mobile technology and social networking. All of these have played their role in the unprecedented growth of big data as well. Big data helps businesses reveal customer behavior, market trends and sales patterns among many other aspects linked to achieving or retaining success in business.
Now, with the Internet of Things (IoT) gearing up, there’s more in store for businesses. Smart enterprises are already within its zone, framing their business development strategies around its evolution and current dominance. The dominance of cloud computing will reach an all time high with cloud data centers processing 92% of workloads instead of traditional data centers. This surge of change is further seen in other aspects of our lives.
IoT has already become an integral part of our lives
For instance, consider all smartphones and other smart handheld devices to be “things”. Then data generated, transferred or stored by these devices using the internet shows that IoT has already entered our lives. Of course, it goes far beyond just smartphones. IoT can spread across wearable gadgets, homes, healthcare facilities, cars, offices, shops, farms, IT firms, factories etc. The possibilities are pretty much endless. Almost anything can be integrated with technologically graded sensor-based devices to facilitate data development, storage and management.
Big Data and IoT have opened up new revenue channels for businesses
IoT is making its way towards more than just the business world. When looking at the future of IoT, its easy to predict that everything that makes life tech-friendly and easy such as a car, dish washer, washing machine, watch etc. will be connected to the internet.
Once we start connecting daily “things” to the internet, data will greatly increase to form large data sets. With extremely large data sets businesses can easily analyze consumer markets and build strategies around such big data. By 2020, its estimated that things connected to internet will reach up to 50 billion which could bring in a whopping $19 trillion in profits for businesses.
Big Data – A key business component
Marketing experts focus on data for its many advantages. Data can help increase sales ratios, improve business operations and ROI. As well as make it much easier for marketers to take goal-based decisions and place them in a more comfortable position.
Once big data is used to analyze and identify possible problems or critical business situations then it becomes a key business component. Database, analytics and IoT workloads will account for 22% of total business workloads within the next couple of years. While the total volume of data generated by IoT will reach 600 ZB per year. With more data comes more knowledge and everyone knows knowledge is power.
Moving forward
However, there are many companies that currently lack effective and modern on-premise data centers and adaptable computing technology. Although they can function properly without this technology it will be hard for them to leverage petabytes of data in a more effective way. Moreover, there are also companies that complain about setting up and running their own data centers since it eventually turns out to be not so cost-effective business decision.
Although simply put, the emergence of Big Data and IoT is undeniable and cloud will become the ideal choice for businesses. To manage data effectively and smartly its natural for companies to go for private cloud platforms. A popular cloud service model platform is SaaS. In the next 4 years, the SaaS (Software-as-a-Service) workload will make up 74% of the total cloud workloads. While IaaS (Infrastructure-as-a-Service) for online servers, capacity and storage will decrease by 26%.
As you search for ways to keep up with the latest business trends and technology, Big Data and IoT are it. Iblesoft offers cloud solutions as well as Big Data and IoT services. You can even talk to one of our cloud consultants today to know more, because let’s face it. Big Data and IoT are changing everything.
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