How Data Can Make Your Business Smarter

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Over the next six years, the amount of data generated by Internet of Things (IoT) devices will grow nearly 30 percent, reaching 79.4 zettabytes in 2025. To put that in perspective: All of the digital data in the world didn't cross the one zettabyte threshold until 2012. But, while data may be the currency of the digital age, more data doesn't necessarily mean more intelligence. Market-changing insights come from knowing the kinds of data to accumulate, processing it quickly, and applying artificial intelligence (AI) to make smart decisions. The results can be transformative. In manufacturing, retail, agriculture, and beyond, smart data is driving cost savings, increased productivity, and enhanced performance.

Reimagining the Automotive Ecosystem

One of the industries that could be most significantly revolutionized by data is transportation. Powered by data, driverless cars could not only unlock new business opportunities, but also create safer roads for communities. On the average autonomous car, cameras, radar, sonar, GPS, and LIDAR components generate about 4,0000 GB (or 4 terabytes) of data a day. These streams of technical data from the car's sensors enable vehicles to distinguish a fallen branch from a traffic cone or maneuver around other motorists on the road. But other kinds of data will also be increasingly valuable in the automotive ecosystem of the future.

Data from the world around the vehicle — for example, traffic patterns and street-level intelligence — will also help driverless cars navigate from point A to point B. And personal data that monitors the number of people in a car or, potentially, music preferences for each passenger could also help create opportunities to boost safety and improve the user experience. With end-to-end solutions such as those from Intel, the entire automotive industry could achieve unprecedented levels of efficiency and mobility.

Bringing Intelligence to the Built Environment

Another industry reaping the benefits of data-driven intelligence: real estate. This past September, Intel, for example, unveiled an 11-story, 800,000-square-foot building in Petach Tikva, Israel that has been dubbed "the smartest building in the world." Thanks to data-driven intelligence, the PTK1 building independently runs its internal systems and functions, from lighting to temperature control to conference room booking. Compared with other high-tech buildings that average about 7,000 sensors, the PTK1 boasts 14,000 sensors that generate 50 to 100 terabytes of data each day. Without any human intervention, the building is capable of accumulating data, processing it, and then using AI to dynamically make decisions that keep the building running efficiently. It's just one example of how IoT technology can help property owners and managers scale buildings that improve the occupant experience and reduce management costs.

Optimizing the Food Industry, "From Farm to Fork"

IoT data from connected machines and devices is also helping to optimize the global food industry, "from farm to fork." Farmers and producers are harnessing data to optimize crops and yields, as well as manage their use of resources such as pesticides, seeds, and water. Smarter logistics makes the global food value chain more efficient and transparent, including in transportation and food product traceability. As a result, data-driven innovation creates the potential for less food spoilage and environmental impact.

The global food industry reflects trends in data-driven IoT that are also influencing other sectors. Similar to cutting-edge healthcare players, for example, agricultural leaders are benefitting from data- and analytics-driven imaging applications, such as hyperspectral imaging (HSI) that integrates sensors, computer vision, and machine learning applications to improve disease detection during inspection.

And like other peers in retail, food retailers are using sensor technology that improves inventory tracking and management, enhances the customer experiences, and drives new business growth.

In Sum:

  • Data is the new currency, but more data doesn't necessarily mean more intelligence. Transformation come from knowing the kinds of data to accumulate, processing it quickly, and applying artificial intelligence to make smart decisions.
  • In transportation, real estate, the food industry, and beyond, data-driven intelligence is helping businesses achieve cost savings, increased productivity, and enhanced performance.

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