"Big data" is a catchphrase in both the tech and business worlds. Referring to the vast amounts of data generated by connected technology, big data is a tool that many businesses can use to make their advertising and other marketing efforts more effective. Data and using data for analytic purposes is not new, but what is new is the vast amounts of data now available to us, and that data has come available largely due to the Internet of Things (IoT).
The more devices and machines get connected to each other and the Internet, the more data is going to flow through those devices into the pool of "big data." But what is the relationship between the two? Are they two sides of the same coin, as Tamara Dull of SAS implies, or are they connected but different? While they may not be the same thing, the Internet of Things and big data are definitely connected.
Big Data Existed Before the Internet of Things
Before looking at the connection between the Internet of Things and big data, we must first establish that big data was in the picture before the Internet of Things became a "thing." Since 2007, analysts have been tracking the size of the "digital universe," which is the sum of all of the digital data created, replicated and consumed annually. This was long before IoT became a household name, according to Zdnet.
That said, the Internet of Things changed the predictions of the sheer amounts of data. Originally, analysts believed the amount of data would double every two years to reach the 40 zettabyte point by 2020. That number has since been bumped to 44ZB because of the impact of the Internet of Things.
The Internet of Things Is Changing Big Data
So, if the Internet of Things is not the only source of big data, are the two really connected? What is the impact of IoT on big data? The key is in how it is changing big data and the way companies use that data.
This is seen first in the storage of the data. The Internet of Things and cloud storage options make it easier to store the vast amounts of data that flow into companies every day. Kaushik Pal of Data Informed indicates that many companies are veering towards Platform as a Service models for data storage, instead of storing it within their own infrastructures.
The Internet of Things is also a source of data generation. The connected devices and sensors that make up the growing Internet of Things are responsible for collecting data, and that data joins other data to grow the amount of big data available to companies and analysts. Every day, sensors embedded into connected devices are gathering data and transmitting that data to central servers, which companies can tap into to assist them in making decisions.
However, this is one of the biggest challenges of the Internet of Things and big data connection. Sometimes, the data collected by connected devices is not helpful or relevant. Wading through all of the data can be cumbersome and can minimize the benefits of the data to begin with. Many IoT applications are trying to assist with this by providing tools to sort and provide preliminary analysis of the data.
So what does all of this mean? It means that data is going to continue flowing into companies and more and more devices join the Internet of Things. The key to the future is going to be learning how to harness the value of that data to make informed decisions. Companies who can do this will be the ones that excel in the increasingly connected world of the future.
About Jason Hope
Jason Hope is a entrepreneur, futurist, philanthropist, and investor located in Scottsdale, Arizona with a passion for technology and giving back to his community.
As an Arizona native, Jason grew up in Tempe and received a degree in finance from Arizona State University, and an MBA from ASU’s W.P. Carey School of Business.
Along with his philanthropic and business initiatives, Jason has a dedicated interest in politics as related to business throughout the state of Arizona as well as nationally.
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