Internet of Things Set to Transform the Data Management System

Internet of Things Set to Transform the Data Management System

Data conversion services can help digitize physical data and IoT helps analyze all accumulated data easily and generate valuable, actionable insights

Managed Outsource Solutions 8596 E. 101st Street, Suite H Tulsa, OK 74133

Valuable data is the fuel of any organization and business leaders always rely on error-free data to make informed decisions. Data are facts and figures that are collected during the operation of any business both internally and externally. With every year the volume of data keeps increasing and the rising amount of data needs can be digitized with the help of data conversion services and organized for easy access.

Today, we have advanced technology like IoT (Internet of Things) that is revolutionizing many industries and business functions. With 41.6 billion connected devices expected by 2025, IoT’s significance is only going to increase. According to IDC, a technology research firm that tracks all kinds of enterprise technologies, global spending on IoT is expected to reach almost $750 billion this year. Another IDC report predicts that by 2025 businesses and consumers are expected to use more than 41 billion IoT connected devices, which is a growth rate of nearly 30 percent.

IoT is a network of devices which can sense, accumulate and transfer data over the internet without any human interference. In the present digital age some data will require an immediate response and real-time analytics will be critical for managing data in both the short term and long term. IoT helps to analyze all accumulated data easily and generate valuable insights from those data. With the use of IoT, the amount of data is expected to double quickly. Without proper infrastructure and management, these valuable data can become siloed and difficult to use.

Implementing IoT as a part of your facilities management analytics strategy helps to store, measure and analyze data. This ensures better customer experience, improved employee performance and enhanced cost efficiency.

Setting up a data infrastructure The size of your facility and the number of IoT data sources installed throughout are the two factors that are responsible for the data available in an organization. With an extensive set of IoT sensors, you can expect valuable data that can drive the internal decision making process like when to replace or repair underperforming assets or need of more staff to meet the demands of customers. It is important to have a comprehensive plan that meets your organizational goals.

With a strategic, clearly defined goal or initiative in place, you can implement a system that sifts through data automatically so that only the relevant information is stored and prepared for

www.managedoutsource.com

(800) 670 2809

analysis. This helps to determine whether a short-term or long-term storage warehouse is necessary. Advanced analytics and predictive modelling can be applied to datasets in order to optimize the decision-making processes.

Give importance to data security IoT ensures a higher level of interconnectivity but it also comes with the greater risk of data breach. IoT data that is collected for analytic purposes may have critical and sensitive information. Therefore it is important to prepare a system that can keep the collected data secure.

Cyber criminals can easily hack business data, if any of your connected devices like computers or PoS (Point of Sale) system is unsecure. Make sure that you are compliant with applicable regulations and have a strong data security system before implementing IoT technology.

New data strategy for IoT Connected devices bring processors, storage systems and data together at the physical level, provide a wide range of applications from which an organization can derive insights. These devices can be integrated with predictive analytics and artificial intelligence in certain cases and handle entire processes that would have required human involvement earlier.

To set up an effective IoT-based facilities management strategy, consider the following steps:  Find out the current problems or gaps that can be solved with data from a network of IoT sensors and devices  Determine the goals for each level of your business’ FM program and get key stakeholders on board  Secure the network for proper functioning of IoT devices  Invest in a scalable data storage solution that fits your budget and aligns with your organizational goals  Determine which sources provide the data you are looking for and then choose the relevant ones  Start integrating IoT data insights and analytics into your business and FM(Financial Management) decisions

www.managedoutsource.com

(800) 670 2809

Organizations want to enrich and cleanse their data to ensure that bad data doesn’t get into the database with IoT and the customers can operationalize actions on the IoT devices in real-time.

IoT has opened an entirely new arena for customers to address their long-standing issue of connecting devices and using the resulting data to positively influence decision-making processes. IoT is bridging the physical, digital, cyber and virtual worlds and this requires digitization of valuable data. Businesses can seek the assistance of data conversion companies to convert all valuable data into the required digital format.

www.managedoutsource.com

(800) 670 2809