I was invited to participate in a panel called “IoT Analytics” last Thursday, March 23rd. This was organized for the IoT Global Council by Erick Schonfeld of Traction Technology Partner (New York). Besides me there were two other speakers: Brandon Cannaday, cofounder and chief product officer of Losant and Patrick Stuart, head of products at SkyCatch. For those of you not familiar with IoT, it stands for Internet of Things. There is another term called IIoT for Industrial Internet of Things. IoT has been in the lexicon for last few years signifying the era of “pervasive computing” where devices with an IP address can be everywhere – the freeze, microwave, thermostats, door knobs, cars, airplanes, electric motors, various sensors,…..constantly sending data. The phrases “connected home” or “connected car” are an upshot of the IoT phenomenon. However Gartner group showed IoT to be at the peak of the “hype cycle” couple of years back.
I emphasized on the “pieces of the puzzle” or the components of IoT Analytics – data ingestion at scale, handling streaming data pipeline, data curation and unification, and storing the results in a highly scalable NoSQL data store, as the steps before analytics can happen. Just dumping everything into a Hadoop data lake only addresses 5% of the problem (data ingestion). Transforming the data and curating it to make sense is a non-trivial step. Then I spoke about analytics which has several components – descriptive (what happened and why?), predictive (what is probably going to happen?), and prescriptive (what should I do about it?). Streaming analytics must filter, aggregate, enrich, and analyze high throughput of data from disparate sources to identify patterns, detect urgent situations (like a temperature spike in an engine), and automate immediate action in real time.
Patrick of SkyCatch showed how they are serving the construction industry in taking images (via drones) and accurately creating “earth maps” for self-driving bulldozers, thus saving human labor cost. Another example was taking images of actual progress in large construction sites and contrasting it against plan, to show offsets, thus detecting delays and taking corrective actions in time.
Brandon of Losant showed example of a large utility company in Australia that supplies high powered (expensive) pumps with sensors. By collecting data from the sensors and monitoring it centrally, they can identify problems and notify the maintenance teams for taking corrective actions. Previously they had to fly people around for maintenance and this new IoT Analytics has saved the company lots of cost. Both are startup companies in the IoT Analytics space and are tackling immediate issues in real time.
It was a good panel and I learnt a lot from my co-panelists.