The Internet of Things (IoT) is an idea whose time has ﬁnally come. Falling technology costs, developments in complementary ﬁelds like mobile and cloud, together with support from governments have all contributed to the dawning of an IoT “quiet revolution”. Now, after more than a decade of slow progress, the business community is beginning to look seriously at the IoT—to the extent that a mere 6% of business leaders believe that the idea of IoT is simply hype, according to a global survey conducted by The Economist Intelligence Unit.
Five things businesses should know about the Internet of Things:
- There is more going on than you might think: 75% of companies from across industries are already exploring the IoT
- The IoT is not just for manufacturers of “things”: Service providers are already offering new IoT products (e.g. insurance companies pricing premiums based on driver behavior)
- Skills development should not be an afterthought: A lack of IoT-related talent is considered the top obstacle to businesses using the IoT
- The IoT will not ﬂourish without genuine co-operation: Turning 50bn so-called smart things into a global network requires business to agree standards for inter-connectivity and data sharing
- Unknowns should not be feared: Few know today what successful business models will look like, but exploration now will pay beneﬁts later
Where there is data, there is analytics!
The IoT is churning humongous amounts of data – all that can be collected, analyzed and used to derive actionable insights.
And Third Eye knows how to do this!
Third Eye has proven expertise in harnessing Big Data technologies to perform detailed analytics for the Internet of Things.
TRAFFIC DATA ANALYTICS
Third Eye’s Traffic Data Analytics solutions helps Government Traffic Planners to harness Hadoop technologies to crunch through traffic data & develop real-time configurations & what-if scenarios of traffic conditions during any selected date & time.
TELEVISION DATA ANALYTICS
Third Eye has helped to develop a platform for analyzing and extracting information from large amounts of data collected from thousands (soon to be millions) of connected TV sets around the US.