To quickly kick off a virtuous cycle of cost savings, revenue increases, and higher profits that can prompt a doubledigit increase in top and bottom lines, companies should develop a joint IoT-AR strategy, rather than think about these technologies piecemeal. This report includes a downloadable IoT-AR app that illustrates how companies can capture these benefits.
Almost unnoticed, the number of IoT-connected devices rose from about 6 billion in 2016 to 11 billion by 2018, possibly reaching 20 billion in 2020, according to Gartner. That increase has resulted in a veritable Big Bang of data. Cisco Systems and IDC estimated the volume of IoTgenerated data to be about 22 zettabytes (or 22 trillion gigabytes) in 2016. That volume more than doubled to 52 zettabytes by 2019, and it is projected to reach 85 zettabytes by 2021.
However, data volumes are rising so quickly that many corporations are unable to use all the data they collect. Huge volumes result in slow processing times and, as a result, the data becomes stuck in data lakes. Moreover, the data sets lack a coherent sequence, and the databases have too many sources to synthesize. Consequently, many companies are finding it difficult to generate data-based insights that employees can use at the right time and in the right place.
The other, oft-overlooked challenge to effectively using big data is the standard visualization tools; they aren’t always effective at depicting data from many sources. Yet, most people need to see data in a visual form to understand it quickly.
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