Predictive Analysis and IOT – A Match Made in (Seventh) Heaven
By
Posted
Jun 22,2016
In
IOT

From Neanderthal days to Nissan’s latest promise of driverless cars, technology has elevated human life to a position that was never ever imagined or dreamt off!!

One such wave of technology that is bound to create a complete overhaul of businesses and indeed revolutionize the life of an average individual is the Internet of Things (IoT). Thanks to all those embedded sensors, mobile devices and smart interconnected systems!

Does the potential of IoT however cease with aggressive automation of systems and the efficiency brought in through real time monitoring of businesses? What happens to the volumes of data generated through these devices?

While Cinderella has found her Prince Charming, the pumpkin reincarnates into the magic chariot called Predictive Analysis – the chariot that will drive organizations to redefine their business models, reinvent new products and refine their service offerings!

The Significance of Predictive Analysis

Businesses are investing in instrumented devices where each one of them offers an individual piece of information. But to make this information interesting one needs a story!

For instance, a fitness wearable can educate an individual about his cholesterol levels. If the device is able to access the diet and activities of the particular individual and denote the impact of his everyday routine on his cholesterol levels, it probably would be more useful. If the same device can remind the individual of his missed physical routine and send a reminder for the same, it is very well-appreciated.

This is precisely, PREDICTIVE ANALYSIS! The ability to add true value to all IoT offerings and enhance the business through building an end-to-end solution for not just collecting data but to turn it into the right actions!

The Major Benefits Of Marrying IoT With Predictive Analysis

The Major Benefits Of Marrying IoT With Predictive Analysis

  • Predictive analysis optimizes the IoT offerings by converting the reactive product or service management strategy into a more proactive one.
  • The essential data extracted through the lifecycle of the customer can be modeled to yield maximum cost benefits and also lower operational costs.
  • The synergy between IoT and predictive analysis elevates customer experiences to higher levels. For instance, a product-based company can use the predictive analysis model to determine the warranty period of a product based on a number of parameters like location, customer type and predicted level of usage.
  • Sophisticated predictive analytical systems help businesses to develop new ideas for product enhancements and optimize service offerings in terms of time and cost.
  • It helps build a strong and sustainable competitive advantage by combining every source of valuable data and ensuring that no cards are left unturned while making key decisions.

Case Study: NCR becomes wiser with predictive analysis!

NCR becomes wiser with predictive analysis!

NCR, the world-renowned leader in consumer transaction technologies collects data from various sources such as its ATMs, ticket kiosks and self-checkout machines at different stores. The advanced predictive analysis model implemented by NCR leverages the significance of the high volume of data collected in numerous ways.

For instance, NCR now knows precisely how many card swipes an ATM machine can handle before succumbing to technical issues. Thus, the company can “predict” the failure of a system before hand and send its staff to service the machine in advance. Its predictive analysis model combines the performance data from its sensors and ICs and blends them with the environmental information.

The predictive analysis model is robust enough to ingest data in various forms and yield the most relevant insights for the continuous progress of the company. The result is the highly customer-centric, cost-effective and streamlined business operations.

Save

Save

Recommended Posts

Showing 17 Comments

  1. Jack
    Reply  

    Your post is valuable , thanks for the info http://myhealthandwellness.pen.io

  2. furtdso linopv
    Reply  

    I’ve been surfing online greater than three hours nowadays, yet I by no means found any attention-grabbing article like yours. It is lovely price enough for me. In my opinion, if all website owners and bloggers made excellent content as you did, the net will likely be a lot more useful than ever before.

  3. furtdso linopv
    Reply  

    Very well written post. It will be beneficial to anybody who usess it, as well as yours truly :). Keep doing what you are doing – i will definitely read more posts.

  4. Nicola Furler
    Reply  

    Write more, thats all I have to say. Literally, it seems as though you relied on the video to make your point. You definitely know what youre talking about, why throw away your intelligence on just posting videos to your blog when you could be giving us something enlightening to read?

  5. survive ark id
    Reply  

    Hey! I know this is somewhat off topic but I was wondering if you knew where I could find a captcha plugin for my comment form? I’m using the same blog platform as yours and I’m having trouble finding one? Thanks a lot!

  6. chocopie
    Reply  

    OM6AoI I truly appreciate this blog article. Awesome.

  7. 15 Minute Manifestation Review
    Reply  

    My brother recommended I might like this blog. He was totally right. This post truly made my day. You can not imagine simply how much time I had spent for this information! Thanks!

  8. this website
    Reply  

    It as very straightforward to find out any matter on net as compared to books, as I found this post at this site.

  9. this website
    Reply  

    That is very fascinating, You are a very professional blogger. I ave joined your rss feed and sit up for searching for more of your great post. Also, I have shared your web site in my social networks

  10. visit website
    Reply  

    It as good to come across a blog every once

  11. visit website
    Reply  

    Thanks so much for the post.Thanks Again. Awesome.

  12. to learn more
    Reply  

    Some genuinely wonderful posts on this website , thanks for contribution.

  13. this website
    Reply  

    we could greatly benefit from each other. If you are interested feel free

  14. click here
    Reply  

    There is definately a great deal to find out about this topic. I love all the points you made.

  15. visit website
    Reply  

    kind of pattern is usually seen in Outlet Gucci series. A good example is the best.

  16. buy instagram followers
    Reply  

    term and it as time to be happy. I ave read this publish and if I may

  17. to learn more
    Reply  

    Thank you for your very fantastically clear fine points and feedback from you. sedan dealers san jose

Leave a Comment

© 2017, AuroSys Solutions LLC. All Rights Reserved



captcha