The Industrial Internet is defined by Accenture and GE as “the use of sensor, software, machine-to machine learning…to gather and analyze data from physical objects or other large data streams, and then use those analyses to manage operations”. In other words, the Industrial Internet is a form of Big Data specific to industrial applications. It is expected to cause significant changes in many industries. Not only is the Industrial Internet expected to make big waves, though, it will increasingly become an integral component of company growth. Those without Big Data analytics and information management will likely be left behind.
- Accenture and GE’s 2014 study Industrial Internet Insights Report for 2015 found that:
- 87% of enterprises believe that Big Data will redefine their industry’s competitive landscape
- 86% believe that companies without a Big Data analytics strategy could lose market share in the more competitive landscape
- 76% expect that their overall technology expenditure made in Big Data analytics will increase
- Only 13% felt they were able to use Big Data to predict trends
- Only 16% felt they were able to use Big Data findings to optimize their operations
These numbers show that many enterprises understand the importance of Big Data. But, they don’t always know how to best use it to their advantage by analyzing their assets. https://www.skybitz.com/WebServices/InSight/AnalyzeYourAssets.aspx] It is not just Big Data that is going to make the difference—it is effective information management and Big Data analytics [https://www.skybitz.com/SBS.aspx] that will propel certain companies forward.
Learn more about Skybitz’s information management services that provide insight into your assets and data.