The IoT Tech Expo in Santa Clara was a bastion of innovation with advancements that only reinforced how quickly this industry is moving and reshaping businesses and industries across the board. At the show, there were demonstrations of software packages that read sensors automatically, consolidate data, and then allow you to easily access custom reporting via a user-friendly GUI. What previously required the skills of a Ph.D. data scientist, is now available through a simple, powerful user interface. Yes, you, Mr./Ms. Average User, can now query data on an ad hoc basis, accessing the information you need, when you need it. This advancement is huge - where the rubber meets the road - in terms of bringing real-time, everyday value to overwhelming amounts of data.
Data analytics is also empowering retailers and manufacturers to combat age-old problems with new technologies. For example, the International Trademark Association estimates that $460 billion worth of counterfeit goods were bought and sold last year, making it an enormous problem for suppliers and retailers alike. However, Blockchain a decentralized public ledger can now provide a secure record of information from product creation all the way to final purchase. Using a combination of RFID tags and Blockchain, manufacturers can track their goods from initial creation all the way to their final destination.
For example, in the wine industry, where counterfeiting runs rampant, producers are able to insert RFID chips into wine bottles when the wine is bottled and account for that individual bottle all the way to the consumer. Complete automation, easy scanning and automated data entry make this process cost effective and consistent and is allowing retailers to verify the authenticity of the products they sell and track the entire supply chain process.
The IoT TechExpo showed that the new generation of data analytics has arrived and is available to users across the board: not just data scientists. This access to information is sure to revolutionize businesses in ways that we have not yet even imagined.
