The Utility of IoT Analytics To Gain Business Insights

The Utility of IoT Analytics To Gain Business Insights

Forget about insights, your data can be scattered anywhere. Adopting IoT is useless without using analytics. Data analytics are necessary to gain insights from the data that companies are collecting, but According to ERP Software survey, 47% of manufacturers and distributors invested in sensors and IoT networks, but just 20% of them did the same for data analytics tools. 

By connecting Internet of Things devices, IoT analytics applications are using data analysis techniques and procedures to gain value from the massive volumes of data collected. Not only use big data, but also the diversity of data itself, IoT analytics is adaptable and can be used for a variety of tasks, including analyzing the state of industrial equipment or identifying market trends. In addition, IoT analytics can be used for a variety of purposes, including industrial automation, hardware production, or cloud development. 

Since IoT analytics will be as big as the main revenue generator, the leaders and companies need to be ready. Here are some of the things you can monitor and find out using analytics. 

Service Reliability

In order to get detailed traffic and ensure service reliability, IoT analytics will allow you to limit downtime and create mitigation plan analysis for usage. Also, IoT analytics will be able to identify connectivity issues. 

Integrated Analytics Dashboard

In order to get faster data gathering and analysis, an analytics dashboard provides you with an integrated and simple to view dashboard. For example, in the banking sector, this dashboard will create a summary from available data including integration from data of SIM card.  

Customer Analytics

With initial data gathered, this analytics will focus on predicting and monitoring customers by getting their profile for future planning.  

Ensure Security and Safety

Centralized data to ensure security measures. Dashboard will show warning and detailed monitoring about threats that occur in the security system. 

Identify Anomaly 

The anomalies can be identified and accurately shown in a detailed dashboard. 

By detecting and gaining insight, analytics can be used to prevent fraud. For example, in the banking sector, to prevent disputes IoT analytics will notify anomalies that happen on SIM Card. 

Prospective Business Insight

The everlasting changing business model won’t bother and make you worry anymore. With reliable and well-processed data, IoT analytics can generate responsive and accurate business insight for decision making. 

With complex business processes and various tasks, the company definitely needs a concrete solution to gather all those data from scratch to be useful insight. As many advantages and benefits that can be provided, IoT analytics will be your first move to become a better company. For better business development and your company’s decision making, contact our expert in IoT analytics.