As big data becomes more of cliche with every passing day, do you feel Internet of Things is the next marketing buzzword to grapple our lives. So what exactly is Internet of Thing (IoT) and why are we going to hear more about it in the coming days. Internet of thing (IoT) today denotes advanced connectivity of devices,systems and services that goes beyond machine to machine communications and covers a wide variety of domains and applications specifically in the manufacturing and power, oil and gas utilities. An application in IoT can be an automobile that has built in sensors to alert the driver when the tyre pressure is low. Built-in sensors on equipment's present in the power plant which transmit real time data and thereby enable to better transmission planning,load balancing.
Over the past decade, big data analysis and applications have revolutionized practices in business and science. They enabled new businesses (e.g., Facebook, Netflix), to disrupt existing industries (e.g., Airbnb, Uber), and accelerated scientific discovery (genomics, astronomy, biology). Today, we are seeing glimpses of the next revolution in data and computation, driven by three trends. First, there is a rapidly growing segment of the economy (e.g., Apple, Facebook, GE) that collects vast amounts of consumer and industrial information and uses this information to provide new services. This trend is spreading widely via the increasing ubiquity of networked sensors in devices like cell phones, thermostats and cars.
Industry after industry is under siege as companies embrace digital transformation (DX) to disrupt existing business models and disintermediate their competitor's customer relationships. But what do we mean by "Digital Transformation"? Digital Transformation The coupling of granular, real-time data (e.g., smartphones, connected devices, smart appliances, wearables, mobile commerce, video surveillance) with modern technologies (e.g., cloud native apps, Big Data architectures, hyper-converged technologies, artificial intelligence, blockchain) to enhance products, processes, and business-decision making with customer, product and operational insights. The digital transformation starts by understanding the organization's business initiatives, and then prioritizing which initiatives are top candidates for enhancement through digital transformation. "Begin with an end in mind" to quote Stephen Covey.