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Gartner reports that by 2020 there will be 25 billion connected smart devices. All these sensors are transmitting data to each other, the cloud and people – but how are they helping businesses make faster and better decisions to transform performance?
Jun 25, 2019
In order to get value out of IoT data, Continuous Intelligence needs to be applied. Continuous Intelligence can be defined as a style of work in which real-time analytics are integrated within business operations, processing current and historical data to prescribe actions in response to business moments and other events. It leverages technology like augmented analytics, event stream processing, rule management and machine learning to automate the decision-making process and to alert decisions makers – both humans and machines – of recommended actions based on real-time data.
The adoption of Continuous Intelligence is on the rise because organizations are realizing that with always-on, real-time analytics they can automate the detection of failures and patterns as well as the reactions and responses to irregularities. It's commonly being used to manage Supply Chains, Warehouses and Procurement and it's helping businesses minimize the cost of labor and downtime and improve customer satisfaction.
Thanks to advances in technology, the hardware and software costs to deploy Continuous Intelligence are going down, lowering the barriers to adoption. Gartner reports that businesses are also ramping up their use of Continuous Intelligence because it has become cost-effective in business processes that were previously too costly to serve. The decreasing costs of sensors and transmitting sensor data are huge factors to enabling IoT-based solutions.
Continuous Intelligence will continue to pace and data and analytics leaders need to embrace disruption in the industry. The key to success is to understand and experiment with trends before they become mainstream, allowing you to create new business opportunities and improve competitiveness. Continuous Intelligence isn’t the only trend we are seeing this year.
Take your insights to the next level. Discover the 9 Data & Analytics Trends for 2019.
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