The Internet of Things (IoT) is a huge deal, with some people wondering just how big it can possibly grow. In fact, a full 5.5 million smart devices connect to the Internet of Things every day. There are some who believe that this number will swell to over six billion by the end of the year.
All of those smart devices — gadgets like consumer electronics, environmental sensors, security systems, wearable tech, and more — are used every day. The fact that they are connecting together and sharing data that they collect and transmit means there is a great opportunity for Big Data to come in — and the possibility for entrepreneurial spirits to do something special with the patterns they find.
This speaks to the very essence of a business founded on creatively; finding connections between two things and making something useful with it. The information alone does not have any bearing on most people but in the hands of a creative entrepreneur (or anyone with a dream and the tools needed to analyze Big Data) something of great use and value to society.
One survey found some pretty interesting results can be created.
- Nearly a third of organizations use the Internet of Things to collect Big Data.
- Telecommunications, engineering and construction, and the government are the three industries most like to collect Big Data.
- Over half of all respondents use IoT systems to collect data (or plan on doing so by the end of the year.)
- Almost three out of four respondents say there is a noticeable payoff from investing in IoT data collection.
The question is, what will you do with the Internet of Things and Big Data?