It is often seen that Big Data and IoT are used synonymously but that’s not the case. Big Data and IoT are two distinct technological fields that overlap several times. This article shall deal with the relationship between Big Data and IoT.
The Concept of Big Data
Big Data consists of a large amount of information that is collected by companies and social media networks to utilize for various business purposes. It is processed using big data analytics tools. To make the concept of Big Data easily understandable, Data scientists use the four V’s that are- volume, velocity, veracity, and variety.
Volume: Simply put, Volume refers to the size of data sets that can be as large as Terabytes or even larger. This type of Big data needs to be handled in a specific way due to its large size. The conventional storage methods are insufficient to store this data. This means Big Data cannot be managed with a normal processor.
Velocity: Velocity means the quickness of data generation. For high-velocity data, specialized processing techniques are used. Data that is voluminous, high velocity, and varied need advanced tools to be analyzed.
Variety: Big Data comes in a variety of forms ranging from online data to more traditional data including personal information. The sources of Big Data fall under three categories namely, structured, semi-structured, and unstructured data. Different varieties of Data need different processing and specialist algorithms to handle them.
Veracity: Veracity of data is the quality of data present. High-veracity data is valuable to analyze as they affect the overall outcome. Whereas low veracity data is low-quality data that is of the least utility for a business.
Understanding the Concept of the Internet of Things(IoT)
The Internet of Things consists of a network of physical objects also referred to as ‘things’ that uses a special kind of software and sensors to exchange relevant data with other devices and systems over the internet. Examples of IoT may include smart refrigerators, Alexa, gaming consoles, industrial tools, etc.
IoT in recent times has become one of the most significant technologies available in modern times. The IoT’s internet-enabled sensors provide businesses with rich volumes of data that can be put to use. As a result, companies can improve their overall operations, track assets, and reduce manual workload.
The benefits of IoT for businesses are as follows-
- Increased employee productivity
- Better customer experience
- Well-informed business decisions
- Improved customer behavior analysis
- Generate more revenue and profits
How are Big Data and IoT connected?
At first, it might be difficult to understand the connection between IoT and Big data. The data produced by IoT devices is valuable in collecting Big data for analysis. This data is attached to physical devices which helps businesses to get hold of information about their products and how they are used.
For example, a smart home with the latest gadgets will help monitor many things such as home temperature, air quality, energy usage by devices, etc. Businesses can take advantage of this valuable data which is automatically collected and analyzed.
Moreover, many IoT platforms utilize machine learning algorithms to collect data streams, correlate them and analyze them together. All of this is done in real time which makes the process of generating insights more quick and accurate.
The business’s ability to use this data creates more actionable and useful data insights. As a result, this increases the return on investment for businesses.
How Big Data generated by IoT can be utilized by Businesses?
Most businesses need to upgrade their systems and evolve the technology to collate large chunks of data to leverage Big Data insights. IoT devices can send messages to businesses and help them store this crucial data for various purposes. Businesses can later use this stored information when developing new products, analyzing customer behaviors, and reflecting on new product launches and other parameters.
It is important to note that this crucial data is stored and can easily be accessed whenever needed by the business.
To make your business digitally advanced, collect and analyze your data using IoT and Big Data. The impact of Big data analytics and IoT in analyzing large data sets using specialist techniques and technology cannot be ignored. The integration of Big Data and IoT is the future of the digital era.
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