Big data is changing the nature of the world we live in. It has created a number of new forms of smart technology, which are simplifying our lives in wonderful ways.
The classic example is with smart homes. You can probably remember watching movies about smart houses on the Disney Channel and other networks over the past 30 years. However, they are finally coming to live, largely due to new big data technology. Recent surveys show that the market for smart homes is expected to reach $40 billion by next year. A stunning 57% of customers have said that smart technology is already changing their lives.
You should be aware of the advances big data has created in the arena of smart technology. It will have an impressive impact on our lives.
Big Data Drives Smart Technology
We know that there have been smart people around for millennia, but the terms smart houses, smart cars and of course smartphones have only been around comparatively recently? and now there is another? smart? to add to that list and that is smart data.
In order to fully understand about smart data, it is probably best to compare it to big data which most of us have heard about. The root of the technology lies with the Internet of Things (IoT). Gartner predicts that there will be 21 billion IoT devices by 2021. By 2025, this figure is expected to rise to 64 billion.
Big data is information that comes in very quickly, at a massive volume and is comprised of a wide variety of information comprised of just about anything you can think of ? and some of that information can be meaningless whilst the volume can also be rather overwhelming.
This means that it takes a great deal of time and effort to make any type of good sense of it as big data is both structured and unstructured ? and this data is collected on a daily basis by many organizations.
What happens next is that the big data is then filtered which turns it into smart data – this process happens before it is analyzed for those insights that can lead to more efficient decision making? decisions that can make or break a company.
This filtered and cleaned smart data comes in two primary forms with on is information that is picked up by a sensor, and then it is forwarded on to a nearby collection point where it is then acted upon before it is further forwarded to an analytics platform. This type of data is gathered mainly within the Industrial Internet of Things systems (the IIoT). The other type of smart data is big data that has already been processed but is still waiting to be turned into actionable information ? so it has been processed but nothing has yet been done with the information. This collection of big data and then turning it into smart data is a really useful tool for businesses as when it is collected and optimized using the specific needs of the industry and the individual organization consumer needs are more easily met.
If we take an online casino where people go to play online casino games smart data would offer the site valuable information such as player patterns ? games choices ? which bonuses are more appealing and to whom ? and it soon becomes apparent how valuable this smart data can be, especially in such a competitive market.
Smart Technology is the Next Evolution of Big Data
Consumers have come to expect a more personalized experience when buying goods and services and the smart data derived from big data provides the information necessary to achieve this goal.