Market potential of Internet of Things (IoT) worth USD11 Trillion by 2025
Emphasizing that analytics are the main channel to harness large functional and money making opportunities presented by the Internet of Things (IoT), which is approximated to reach USD11 trillion by 2025, SAS, the leader in analytics, has actually highlighted the significance of data driven innovation at a recently concluded event in Dubai.
Bring in a broad cross-section of visitors from various industries, the online forum - called 'Fostering Innovation Through Data' - acknowledged that modern organization's methods need to establish heightened analytical environments by presenting brand-new information management systems and executing new ways of simplifying information to enhance functional procedures.
"Analytics are exactly what offers the Internet of Things indicating - the Analytics of Things (AoT) provides actionable insights to companies. Applying the proper analytics to streaming data allows companies to derive value and assess information for better decision making and operational governance. Improving information insights can transform items, services and processes into strategic revenue-delivering possessions for companies," said Marcel Yammine, General Manager for Gulf and Emerging Markets at SAS.
Tuba Islam, SAS Global Technology Practice, Advanced Analytics, UK, who provided a session entitled 'Analytics of Things (AoT): The genuine value in IoT', added: "The Internet of Things supplies the capacity for practically endless streaming of information and operational analytics that help company make better decision in real time. In addition, this accessibility to information affects and influences our way of life, as well as the way businesses are run in the age of unheralded information explosion.".
Islam also described how SAS' streaming analytics options work to capture information from gadgets, examine data through controling data in-motion, assemble information platforms and new stream patterns through thorough and enhanced streaming designs.
Meanwhile, Maria Cristina Conti, SAS Senior Analytics Solution Manager, presented a session entitled 'Analytics in action & relevant principles', which detailed methods to bridge the gap in between IT and companies. According to Conti, one of the main barriers for adopting analytics in company is the need to grow analytical skills within companies labor forces. Conti described that knowledge can be developed by employing particular workshops to enhance workers' skills and empower them with the right tools to produce and interpret data display screens.
"Companies are now spending millions of dollars to manage the details streaming in from suppliers and consumers. At SAS, we supply solutions such as interactive and visual reporting, analytical information exploration and analytical modeling," Conti said.
AJ Coetzee, SAS Senior Business Solutions Manager, delivered a session entitled 'Why Hadoop matters when it concerns development', where he described the value of Hadoop-- an open source structure for distributed storage and processing big sets of information on commodity hardware - in the world of information analytics. With the boost of information volume being driven by IoT enabled items and uploaded social media material, Hadoop assists in increased information storage for exploring and analyzing information.
According to Coetzee, there are 5 steps in analyzing information utilizing Hadoop consisting of accessing, transforming, refining, incorporating and delivering data. Using SAS' LASR in-memory analytic server, users can create brand-new Hadoop tables and deliver information to other databases and online apps.
Other speakers at the online forum included Marcel Yammine, General Manager for Gulf and Emerging Markets at SAS, and Craig Stephens, Senior Business Solutions Manager, SAS South Africa, who went over the role and significance of Innovation and Analytics.
