Book Image

Analytics for the Internet of Things (IoT)

By : Andrew Minteer
5 (1)
Book Image

Analytics for the Internet of Things (IoT)

5 (1)
By: Andrew Minteer

Overview of this book

We start with the perplexing task of extracting value from huge amounts of barely intelligible data. The data takes a convoluted route just to be on the servers for analysis, but insights can emerge through visualization and statistical modeling techniques. You will learn to extract value from IoT big data using multiple analytic techniques. Next we review how IoT devices generate data and how the information travels over networks. You’ll get to know strategies to collect and store the data to optimize the potential for analytics, and strategies to handle data quality concerns. Cloud resources are a great match for IoT analytics, so Amazon Web Services, Microsoft Azure, and PTC ThingWorx are reviewed in detail next. Geospatial analytics is then introduced as a way to leverage location information. Combining IoT data with environmental data is also discussed as a way to enhance predictive capability. We’ll also review the economics of IoT analytics and you’ll discover ways to optimize business value. By the end of the book, you’ll know how to handle scale for both data storage and analytics, how Apache Spark can be leveraged to handle scalability, and how R and Python can be used for analytic modeling.
Table of Contents (20 chapters)
Title Page
Credits
About the Author
About the Reviewer
www.PacktPub.com
Customer Feedback
Preface

Chapter 12. The Economics of IoT Analytics

You sit in your office staring out the window at the building across the street. You feel the tap, tap, tap of your pen against your forehead as you fiddle with it lost in thought. Your boss left your office twenty minutes ago.

"We need a predictive maintenance program," he had said, "But it can't lose money! We need more revenue coming in. But I don't want you wasting your time on analytics that won't make us money."

You agreed and nodded your head with a thoughtful smile firmly held on your face. You know how to think about analytics but not necessarily how to look at it from a revenue and cost perspective.

"And I want you to keep trying new things! Let's keep up the experimentation. You are doing great! Just don't lose money," he continued.

Okay, sure

, you think.

How do I do that?

This chapter will explain how to think about a business case for IoT analytics projects. It discusses ways to optimize the return on investment by minimizing costs and increasing...