I blogged the other day about how I believe IOT will dwarf Big Data. Over the weekend I was thinking about this more and three reasons why I think this is the case solidified in my mind. They are as follows:
- Customers versus Everything: Big data is fixated on the customer, or more precisely, the consumer. Whatever the vendor’s say, most of the hype and work related to big data looks at discovering something insightful about consumers. Just knowing what the ideal promotion should be is one thing. How will fulfillment be serviced to make sure that insight is capitalized? Is the analytic worth paying for if you cannot execute? After all, an analytic can only go so far: it’s the perception of fulfillment that delivers profit. As I used to say, “Knowing the train is running late is one thing; being able to change your travel plans is quite something else”.
- Insight versus Fulfillment: Big data finds the opportunities; IOT demands a closed loop approach. IOT does not fixate in consumers, or customers. IOT concerns itself with the instrumentation of everything, and anything. For the ‘everything’ related to consumers big data might be needed. For ‘everything’ related to fulfillment, big data won’t help. Other things will be needed such as modern business process improvement and business applications. So IOT’s focus is much broader. IOT needs the full cycle of Plan, Do, Check, Act. Big data does not.
- Wisdom of the Crowd versus the Individual: Big data assumes that there is insight just waiting to be discovered in the vast troves of data, specifically dark data. IOT adds a wholly different focus for which big data is not designed: small data. By applying modern advanced analytic capabilities to specific temporal streams of data for individual devices (e.g. passenger car status, heart valve condition) individual tailored insight can be determined. Big data is all about assumptions derived from large scale pattern discovery; small data is all about discovering differences in the rivers that comprise the lake. Again, IOT is border than big data.
The original blog attracted some comments (thanks all) and one mentioned the security issue and how just that, for IOT, could spawn another significant sector change.
I am not totally sure that these ideas hold up – they feel right though. What do you think?
Predicts 2019: Data and Analytics Strategy
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