The IoT will give rise to the IoD – the Internet of (very Big) Data. The business opportunity is big too, but what about the costs?
How Big is Big Data ?
Let’s start by discussing how big is Big Data. For example, Walmart customer transactions generate about 1 million data points per hour. Big, isn’t it ?
Well, one single energy meter generates 1 million data points per day. This means that about 20 energy meters would generate as much data as 20,000 Walmart stores.
Big Data = Big Money ?
If this sounds scary, it’s because you are thinking that big data equals big data storage – and consequently big money. And you’d be right, since this is what we have always been doing with data generated by human activities – store data first, use it later. But with the data volumes generated by things we need to rethink this approach.
Why do we need Big Data ?
Let’s start by reflecting upon the reasons why we might need big data generated by things. I believe that we can trim them down to 2 main categories:
- To discover something that we do not expect
- To respond to something that we do expect
We will discuss how can we achieve these goals effectively and without having to invest in huge data storage infrastructures.
Source : iiot-world