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Business Environment Assignment 2

The document discusses the relationship between Big Data and the Internet of Things (IoT), highlighting how they work together to enhance data analysis for business decision-making. It explains the characteristics of Big Data, the role of IoT in generating vast data sets, and the various types of analytics that can be applied to this data. Additionally, it addresses challenges in data visualization and storage, while emphasizing the importance of advanced analytics solutions for organizations.

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Rahman Nafees
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11 views13 pages

Business Environment Assignment 2

The document discusses the relationship between Big Data and the Internet of Things (IoT), highlighting how they work together to enhance data analysis for business decision-making. It explains the characteristics of Big Data, the role of IoT in generating vast data sets, and the various types of analytics that can be applied to this data. Additionally, it addresses challenges in data visualization and storage, while emphasizing the importance of advanced analytics solutions for organizations.

Uploaded by

Rahman Nafees
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Assignment-2

Concept and application Internet of


things (IOT) Big Data Analytics

Nafees Ur Rehman
MBA-B
Enroll:- 2300102907
Big data and the Internet of Things (IoT) are two hot topics top of mind for

business leaders. Together they have been making a significant impact on

companies’ ability to capture and analyze data to drive business decisions.

In today’s environment there are many situations where the Internet of

Things and big data work hand in hand with each other. However, they

evolved as separate technologies and have some differences as well.


What is big data? Big data has been an evolving concept since the start of the digital
age. Used to describe a huge data set that is defined by three characteristics, known as
the three Vs— volume, velocity, and variety—big data differs from other data sets by the
size (volume), rate of growth/change (velocity) and the variety of structured,
unstructured, and semi structured data within the set. The benefit to having an expansive
data set is its potential to hold hidden patterns or trends that are only visible in a set that
large. Additionally, it enables a full-picture view.However, due to the magnitude and
complexity of big data, the value comes from being able to analyze this data -- not the
data itself -- which can prove to be a challenge. Big data is so large and complex that
identifying business value from so much information can’t be done through traditional
methods for processing and analyzing information.
Historically, organizations would have had to dedicate enormous amounts of time,
money, and resources to analyzing the data if they wanted to gain any valuable insights
from it. Fortunately, due to advancements in computing, big data analytics now makes
it possible to combine big data sets with high- powered analytics. The result?
Previously unwieldy data sets can now reveal actionable insights. Big data analytics
packages huge data sets into a comprehensible format that allows organizations to use
them. Additionally, by incorporating technologies like artificial intelligence (AI) and
machine learning, more applicable insights can come to light. There are many sources
of big data, one of those being data from the Internet of Things (IoT).
What is IoT data? The Internet of Things (IoT) refers to physical objects connected
through shared networks. A variety of sensors gather information and share it across
systems that can store, manage, filter, and analyze the data. An IoT device can refer to
everything from wearables to medical devices to industrial equipment. The IoT enables
companies unprecedented visibility into what is happening across their connected
devices in real time. A vast amount of real-time data points are collected from connected
IoT devices and transferred across the internet for storage and analysis. What is the
relationship between IoT and big data? IoT and big data have many overlapping
components, and IoT is considered a major source of big data.
In the current environment, the complex data and information gathered by IoT devices
can be considered a big data set being gathered in real time. Big data storage and analytics
currently help to make sense of the plethora of those real-time data points and provide
helpful insights. To sum up the relationship at a high level: A network of devices
equipped with electronics and sensors (connected devices) send real-time information to
the internet (IoT), where it is compiled and stored into vast data sets (big data) and
analyzed to find useful patterns (big data analytics). How is big data used in IoT? Big
data analytics help to make sense of the data and information that is gathered by IoT
devices.
Big data analytics can provide different types of insights when used with the IoT;
namely, descriptive analytics, diagnostic analytics, predictive analytics, and
prescriptive analytics. Descriptive analytics gives insights into how a connected device
is performing in real time. It can be used for anything from locating a connected device,
to understanding how that device is used by costumers, to identifying anomalies.
Diagnostic analytics gives insights into the “why” behind descriptive analytics. For a
particular connected device, it can help organization understand why it is running in a
certain way or why it is producing certain outputs. A very applicable use of big data in
IoT is in predictive analytics.
Lastly, big data is used in IoT for prescriptive analytics. This type of analysis gives
insights into how to impact things that have been observed or predicted. Challenges in
IoT with big data analyticsData visualization Data visualization is an important aspect of
IoT analysis, aiding in the ability to identify key trends. Data visualization is needed to
properly identify and convey the best data insights that can be used to drive business
decisions. The data generated by IoT devices is heterogeneous, meaning it comes in a
variety of formats: structured, unstructured, and semi structured. While in theory
visualizations of data should make it easier to understand trends, when the data comes in
so many different formats, a method of visualization becomes more difficult
. Data storage and management Big data continues to grow at an exponentially high rate.
As they are today, big data storage systems have a limited amount of space, so it is
becoming a significant challenge to manage and store such a large amount of data.
Solutions for IoT and big data analytics Big data and the Internet of Things will continue
to evolve and play a significant role in an organization’s ability to make decisions.
Explore PTC's analytics solutions that are making it easy to turn raw data into valuable
insights.Big data analytics resourcesDigital transformation is no longer just a future plan.
IoT and advanced analytics technology offer value to enterprises of different sizes and
across multiple industries.

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