Posted on by Miguel Granier

Big Data and the Internet of Things

The “data revolution” that the world is experiencing along with the rise of the Internet of Things (IoT), will change the way the world addresses challenges, how businesses run, and how consumers interact with products. We are on the verge of a revolution that will affect all industries and societies alike. Below are recent articles highlighting developments in data and IoT. IoT Offers Bright Future, Says Harvard Professor by Jon Marcus on PTC According to Michael Porter, Harvard Business School economic, the Internet of Things (IoT) will change the way consumers interact with productions and alter the way companies do business in ways that are not yet fully understood or appreciated. This means that companies will have to radically adapt. The payoff, he says, is the potential for an economic boom after a decade of slow business and job growth. “After an era for the last 10 years in which there have been incremental [business] improvements, all of a sudden we have an explosion of new capabilities,” Porter said. “We have an opportunity here for a very bright era. The question is, how do we capitalize on that?” The Road to Better Data by Johannes Jutting on devex There has been much debate over the “right” number of Sustainable Development goals in recent months. But this debate misses a key point: that no matter how many goals and targets are agreed on, if we can’t measure their real impact on people, societies and the environment, they risk becoming irrelevant. Adequate data is crucial in identifying societies’ problems that planning and policymaking will need to address. Despite the “data revolution” that the world is experiencing, blank spaces persist in the statistics of many developing countries. Despite these challenges, dramatic progress is possible, even in the poorest of countries. There is a growing awareness of the challenges faced and a growing willingness to do something about it. More than 30 developing countries have signed up to “Data Declaration”, stating that “the time is now to bring the data revolution to everyone, everywhere. Additionally, new technologies are helping to revolutionize the world of data. Developed and developing countries alike are on the cusp of a huge change in how they collect and disseminate data. With the aid of clear planning, and innovative new technologies, we are on the road to better data globally. Attack of the Big Data Startups on CB Insights Big data is everywhere. It is being used in everything from HR to finance to agriculture, changing the way that businesses run. Below is a mapping of areas that big data companies are attacking and notable players from each, including our portfolio company, OnFarm. Big-Data-Map2 OnFarm: Smart, Connected Applications Maximize Agricultural Business Performance (Case Study) by Tony Rizzo on Blue Hill Research The Internet of Things opens many new doors, especially for startups with innovative ideas. IoT provided our portfolio company, OnFarm, to transform farm management. This case study explores how OnFarm utilized IoT to maximize agriculture business performance. New Here?