Living in a 24-7 news cycle, it is best to take a break from all your favorite news outlets and go back to the basics. Industry analysts today are charged with giving their audience an unbiased report of their findings, that’s why this week’s top IIoT news is dedicated to seeking out some of the industry expert opinions in this ever-changing digital world.
Let’s start by looking at Ovum’s 2015 key theme for the oil & gas industry. According to Ovum, more modernization of IT platforms will continue to help reduce the disconnect from the IT stone-age equipment to the modern real-time IIoT, thus allowing companies to improve their overall decision making process.
A closer look at Forrester, we find security topping the list for 2016. In a recent report, Forrester is quick to call out the shortsighted firms for not realizing the importance of implementing proper security measures to protect the collection of data. It is recommended that firms stop focusing on the lowest possible cost to secure data, and turn the focus into the best way to keep and maintain quality information safely.
On another digital front, Gartner predicts that by 2016 6.4 billion IoT devices will be in use, and only sees that number soaring with an estimated 20.8 billion things connected by 2020.
Overall, we heard about the need to bring ethics to data, and predictions of how data will be turned into insight and action in the coming year. Other reports included the top digital trends and how those trends fit into the new digital mesh landscape. Additionally, we learned about revolutionary IIoT operational ideas for the future and a big data forecast for 2016 and beyond.
Hope you enjoy this week’s research related reading!
Bringing ethics to data, a board-level agenda item (OVUM)
The challenge facing companies today is, what practices should be put in place to handle the large scale, data being collected. Tom Pringle reiterates the assertive stance Ovum has taken when it comes to the ethics of big data, “If data holds the potential to benefit many, it also has the potential to harm many (as an unexpected outcome, or purposefully negative).”
Forrester’s 2016 Predictions: Turn Data into Insight and Action
In the 2016 Forrester predictions, Brian Hopkins, Enterprise Architecture Professional has broken the it up with three major shifts, that will help turn data into insight and action. Hopkins is quoted as saying, “Machine learning will replace manual data wrangling and data governance dirty work.”
Top Ten Digital Trends Signal the Digital Mesh (Gartner)
David Clearley, vice president and Gartner fellow details the top digital trends and how those trends fit into the new digital mesh landscape. The fifth trend on Gartner’s list is advanced machine learning, Clearley believes that, “Advanced machine learning is what makes smart machines appear “intelligent” by enabling them to both understand concepts in the environment, and also to learn.” This area is quickly evolving, now is the time to figure out what technologies your company needs so you can have the competitive advantage.
Convergence in the Plant Asset Management (PAM) Market (Frost & Sullivan)
In this detailed plan from Frost & Sullivan, they see IoT driving the next generation of improvements with predictive analytics. Furthermore, in the plant asset management (PAM) market Frost & Sullivan sees the, “Industry initiatives, including Industry 4.0, Smart Manufacturing, and applications of Internet of Industrial Things (IoT) technologies are revolutionizing operations and maintenance, enabling the cost-effective connectivity of a wide variety of asset classes.”
New IDC Forecast Sees Worldwide Big Data Technology and Services Market Growing to $48.6 Billion in 2019
A new report from IDC forecasts the enormous expansion of both big data worldwide and the services market by 2019. IDC predicts that, “The Big Data market continues to exhibit strong momentum as businesses accelerate their transformation into data-driven companies.”
