The Role of Big Data Analytics and the IoT in the Insight Economy

The Internet of Things (IoT) is poised to span every area of human life, and it is expected to form the biggest big data analytics cloud in the insight economy.

According to IBM Big Data Expert Jim Kobielus, it will likely become the most pervasive, widespread and diverse global network in existence. However, he is quick to point out that even though the importance of big data to the IoT is indisputable, there is so much more involved in the IoT fabric that needs to be considered.

As people increasingly work toward the goal of a smarter planet, the IoT will play a starring role. Everything in our daily lives can be instrumented, networked, provided with data-driven intelligence, and interconnect at all times to allow various outcomes to be brought about.

The IoT will rely on cognitive computing algorithms to help it sort through high volumes of data and analyze everything quickly and accurately. IT professionals will be able to accomplish operational economies of scale using IoT analytics functions such as aggregation, data collection, integration, distribution and modeling.

Machine Learning Opening Up New Worlds of Possibilities

Smart homes, connected cars, and 24/7 mobile commerce will soon be omnipresent. As machine learning and deep learning continue to make significant advancements, cognitive computing capabilities look set to help run the IoT, finding patterns and using the information to help bring about intended outcomes.

IBM has partnered with Nokia to help develop the first mobile edge computing platform on the planet that can run applications using a mobile base station, thereby accelerating the delivery of services that are media-rich and low-latency to smartphones without the need for a remote media center. This can also be extended to augmented reality, public safety, mobile gaming, smarter traffic, and many other areas. The advent of IoT fog computing will see big data growing tremendously, and this is what will ultimately drive the insight economy.

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