Turning data into BIG DATA
Cisco’s recent VNI (Visual Networking Forecast) suggests that by 2016, we will generate 1.3 zettabytes of data per year. Putting it in perspective.. in 2016 the gigabyte equivalent of all movies ever made will cross the global internet every 3 minutes. M2M (machine to machine) data is projected to be a significant contributor to that 1.3 zettabytes (at least in number of devices). Intelligent devices transmitting data without human interaction…that is the Internet of Things…
It is projected that by the year 2020 there will be over 50 billion devices communicating over the internet. M2M devices are forecasted to be the fastest growing connected device in the home, outpacing set top boxes and PCs, with an impressive Compounded Annual Growth Rate (CAGR) of nearly 60%. What are all those devices transmitting? Location, temperature, humidity, movement, acceleration, time, channel, intensity?… you name it. Capturing and managing all of that data is one thing, gaining value from it is another. The notion of collecting data in the connected home space is nothing new. Even before the broadband era, as a systems integrator myself, we had the “ability” to capture not only when our clients were watching TV, but what they were watching, when they were watching, and how long they were watching. This was possible by simply capturing button presses on a UI. Much more data than Nielsen could capture. The problem is we never capitalized on that opportunity. If we had aggregated consumer usage data over a 10 or 15 year period, I believe we would have accumulated what many believe is pretty strong IP. ”Big Data” is a hot catch phrase in the software industry today, mainly because data analytics has taken on a whole new meaning with the introduction of M2M. The amount of data connected devices will transfer in the future is staggering.
If you provide intelligent control systems, are you looking at ways you can diversify and increase your valuation? Is there a way ESCs could convert aggregated data into tangible value for the company? the client? other stakeholders?