Getting IoT Projects Started.
The Internet of Things is a reality, solving numerous business problems. The Internet of Things (IoT) is a concept, a concept comprise processes, parameters, products and measurements. Many think IoT is all about connectivity and devices, this may be correct but IoT is all about data. The whole Idea of IoT is data gathering, finding insights from same data to make the best decisions.
How do we get started? many ask- For businesses and enterprises, a use case approach is the easiest and fastest way to get started with IoT. IoT either helps you save money or make money. Businesses are able to save money by reducing waste, optimizing processes, predicting the right state or usage, reducing operational cost, increasing efficiency and reducing down time. Businesses are able to make money by improving product offering and design, understanding customer behavior and needs. Now, to get started, businesses must identify one use case of interest. For instance, do we find a way to improve product offering or reduce waste? When enterprises identify the use case of interest, enterprises then consider products, equipment, process that are attached to this use case. For instance, if reducing utilities waste is the use case of interest, businesses would consider the equipment, process and people attached to utilities consumption. If increasing customer satisfaction is the use case of interest businesses would consider the product, people, Inventory &logistics, sales and marketing activities. After considering all factors that may be attached to the use case of interest, businesses then proceed to perform cold path analytics.
Cold path analytics is simply applying data science principles on existing dataset that is associated with all the factors attached to a use case. Sometimes these data are siloed data. Cold path analytics must be carried out in order to confirm and be sure if deploying an IoT solution will be useful and suitable in solving the problem/use case identified. Cold path analytics involves data exploration, application of machine learning algorithms to find patterns, trends, correlation and insights and also making the right predictions. Cold path analytics gives businesses an idea of what additional factors to add, what type of data is needed to get better insight. If when performing cold path analytics, there are no tangible statistical relationship between parameters, variables of all the factors in a use case then it may be impossible to make recommendation.
The key reason for cold path analytics is to find insights that suggests you ‘’do this’’ to get ‘’this result’’. For instance if the use case is to reduce and eliminate the sudden increase in utilities consumption and there is no anomaly in the dataset provided, it means it may be impossible to tell what equipment is faulty, what season, activity or period of time is responsible for the increased consumption or which of the operators is not operating an equipment the optimal way. Cold path analytics is important in getting started with your IoT projects. This is where Cedar comes in. We are able to help you in applying basic data science principles in your IoT journey. When Cold path Analytics is done and insights found, businesses can then consider what factors of the use case will need to be connected and future factors to be considered as more insights are found. It is important to note that cold path analytics will be a continuous activity in your IoT deployments, management and maintenance. Gateways, connectivity and computing methodology are then considered. All of these will depend on the budget and finance allocated to an IoT project.
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