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KDnuggets Home » News » 2013 » Jun » Publications » Wikibon: Industrial Internet and Big Data Analytics ( 13:n16 )

Wikibon: Industrial Internet and Big Data Analytics


Data associated with the Industrial Internet - created by machines - holds more potential business value on a size-adjusted basis than other types of Big Data associated with the social Web, consumer Internet and other sources.



Wikibon, Jun 19, 2013, by Jeff Kelly


Executive Summary

Not all Big Data is created equal. Data associated with the Industrial Internet - that is, data created by industrial equipment such as wind turbines, jet engines, and MRI machines - holds more potential business value on a size-adjusted basis than other types of Big Data associated with the social Web, consumer Internet and other sources.

This is due to the nature of the industry sectors whose high-value assets create the majority of Industrial Internet data. Industrial sectors such as healthcare, energy, and transportation impact outcomes across geographic, socio-economic and commercial boundaries.

A high obesity rate, for example, directly impacts not just the health of individuals, but also regional and even national economic output. Power outages, to take another example, can cost affected areas hundreds of millions of dollars in lost productivity.

On the flip side, improved operations, better efficiency and - most importantly - net new business models in the industry sectors whose daily operations impact each and every one of us, enabled by the Industrial Internet and Big Data analytics, can lead to improved economic and societal outcomes.

Industrial Internet Wikibon highlighted the Industrial Internet as a top investment sector on the Real World of Big Data Infographic

Harnessing the potential value of the Industrial Internet, however, presents a number of significant challenges not faced by those looking to tap into Big Data analytics in other, more consumer-focused industries. This is due in large part to the mission-critical nature of the workloads involved in the sectors that make up the foundation of the Industrial Internet.

... The tools and technologies used to process, store, analyze, and optimize Industrial Internet Big Data, therefore, require significantly higher levels of performance, reliability, flexibility, security, and analytic complexity than their consumer Internet counterparts.

While Wikibon believes that Big Data is the new definitive source of competitive advantage across all vertical markets, the stakes are highest - financial and societal -- in those industry sectors that make up the Industrial Internet. The high value and consequences of harnessing this data, therefore, demand the development of specialized platforms, data models, and analytic capabilities to meet these unique, stringent, and critical requirements.

Read more.

Gregory PS: Wikibon article details opportunities in Key sectors:

Healthcare

  • Maximize High-Value Asset Lifespan and Performance
  • Improve Capacity and Workflow Management
  • Ensure Process Compliance:
Energy
  • smart meters
  • large-scale industrial wind farms
Transportation
  • Preventative Maintenance and Improved Design
  • Fleet Management and Schedule Optimization
  • Developing New Services and Routes

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