Enabling Digital transformation by gaining Augmented intelligence from IOT data

The strategic importance of leveraging IOT technologies to improve performance has certainly been acknowledged, and IOT is now being perceived as one of the key enablers in transforming businesses within a new digital reality. Organizations globally want to make the most of IOT technology and many have invested in it with some already reaping the rewards. But many businesses are struggling to truly maximize the potential of this technology. One reason we have found is that to digitally transform and see returns from IOT deployments, it is no longer enough just to have the best devices and connectivity; without a well thought IOT data management and knowledge extraction capabilities, they are meaningless. While the number of digitally connected things in the IoT is increasing rapidly, projected up to 25 billion by 2025, the acceleration in structured and unstructured data creation is much greater, driven largely by the growth in embedded sensors and location data. IDC estimates that total data volumes are doubling every 2 years and will reach 44 trillion gigabytes by 2020. The massive amounts of data that these connected devices collect provide businesses the opportunity to learn about the environment in which they operate, extracting insights that can be turned into actionable decisions. These insights can help formulate new delivery models and fundamentally change how a business operates. But as per the similar industry reports, by 2017, less than 10% of the available IOT data is actually being analyzed. This is a major capability gap. When technologies like IoT are seen as vital to a business' success, the need for parity between the deployment of new technology and the ability to leverage the data being collected from such technologies becomes ever more pressing. An effective analytical capability completes the feedback loop between business strategy and the IOT deployments, creating a capability that is central to an organizations digital transformation. This presentation will encourage a thought provoking discussion on why the true value of IOT data lies not just in having it, but in harvesting it for timely fast, fact-based decisions that lead to real business value.