We all know Big Data is on the rise and has been making a big impact in just about every industry out there, but how much is the Big Data Industry worth? With Big Data infiltrating many different sectors, it can be expected that Big Data is worth a pretty penny. What about the up and coming technologies connected with Big Data? How much are Cognitive Computing or the IoT worth?
We live in a world that is ever changing, on the path to a more tech savvy population, we create a lot of data and rely heavily on many different devices daily. Because of this there are predictions that by 2020 Big Data will be worth $7 Billion. That is a lot of money, but it makes sense because Big Data is a very big industry.
What about other industries that are just emerging? Can we expect to see big things out of them? The answer is YES! Cognitive computing is quickly becoming a very popular and promising field. Cognitive computing will change the world in a very unique way, teaching computers cognitive thinking skills, forming more efficient versions of ourselves. This field is predicted to be worth $13 Billion by 2020.
The big kicker is the internet of things. IoT is a field that incorporates many different technological sectors to form an interconnected system of devices. The Internet of Things will change our daily living anywhere from the thermostat in our homes to our cars driving us to work. The IoT is though to be worth a whopping $7 Trillion by 2020!
To learn more about how this fields are connected,check out this article describing the interactions between different silos in the tech world.
The connected car is a symbol of the future, a car that can drive itself, speak to its driver or even prevent accidents. This is what we picture when we look towards cars of the next generation. This process has been in motion for many years including GM’s OnStar devices in their models that can call for help when a vehicle has been in an accident. Even though this technology has been around for over twenty years there is suddenly a push for a more sophisticated vehicle.
Ever since the emergence of the Internet of Things, machines we use on a daily basis are getting a face lift. Ever major technology company is racing to produce devices that will be used in what is called the “connected home”. The idea is that the technology we use will be able to communicate to one another, making our lives easier. Cars are a big part of this vision because the majority of the population uses them everyday. With the IoT vision, we will one day have cars that will be automatically started and warmed to our preferred temperature and will chauffeurus to our destination.
Toyota has announced that they are beginning to equip their vehicles with Data Communication Modules that will allow the car to send and receive data with the Toyota Big Data Center. With this technology, cars will be able to automatically send a distress call to emergency respondents with the vehicle’s location as soon as the airbag is deployed. This will allow victims of an accident to receive medical attention more quickly and hopefully prevent unknown accidents that often leave people stranded.
As Toyota and Ford begin to install Big Data devices into their cars, they are making huge strides towards the IoT. The more advanced cars are, the easier it will be to enhance them with receptors that can tell the car what to do and how to do it. With this sort of participation from some of the leaders in automotive technology, it won’t be long before we see the first “connected car”.
Almost every physical object can be connected to the internet.
We are racing forward to an era of hyper-connectivity. Objects now have the ability to communicate with each other, all using DATA!
The Internet of Things is happening now!
The Internet of Things (IoT) is a term that has been thrown around for a few years now, but many of us may still not fully understand what it means.
The IoT refers to a network of physical objects or “things” that have the capabilities to both collect and exchange any amount of data. They do this through a variety of software, electronics, sensors, and network connectivity.
So many devices that we own are connected to this “Internet of Things”, and we are using this network of data everyday to make our lives easier. This includes everything from cell phones, coffee makers, washing machines, headphones, wearable devices and almost anything else you can think of. If it has an on and off switch, then chances are good that it is connected to the IoT.
Now that more and more objects are connected to the IoT, those objects can all communicate to optimize day-to-day practices, create new opportunities, and save us money!
This is a great video looking at 7 bind-blowing facts of the Internet of Things.
“In 2008, there were already more objects connected to the internet than people.”
“The ATM was one of the first objects of the Internet of Things, dating back to 1974.”
“This year we will have 4.9 Billion connected things.”
“By 2020, we will have 6.1 Billion smartphone users.”
“The global market for wearable devices has grown 223% in 2015.”
“By 2020, a quarter of a billion vehicles will be connected to the internet.”
“All of these devices collect and transmit data, contributing to our Big Data world!”
Everyone wants to save money. I have never heard someone say they would like to pay more for something. What is one great way to save money? Lowering your energy bill of course. Everyone has got one- wouldn’t it be nice to have a lower energy bill and use your extra money on things you actually want to pay for? Better yet, wouldn’t it be awesome to save money on your energy bill AND help save the planet?! You would feel like a great person- a great person with a little extra dough in your pocket.
We all like to think that we are doing all we can to help conserve energy and save the planet, but there is a lot of wasted energy we do not see. Through the use of Big Data analytics, energy companies can receive information on the amount of energy each household is using and send the consumer a usage report. This report can highlight wasted energy and inform the consumer of better ways to conserve their energy. By informing the consumer of their wasted energy, they will be able to adapt their habits to reduce their energy use and also save some money on their bill.
Another way to reduce unnecessary energy use in the household is to install a thermostat that is connected to the internet such as the Nest. Nest is a “smart” thermostat that learns the habits of the household and adjusts the temperature to ensure optimal efficiency. For example, a family may like their house to be sixty-five degrees in the summer while they are home, but when everyone leaves for work and school for the day, does the air conditioning need to keep the house at sixty-five degrees? No, unless you think your couch will get too warm without it. This is where Nest would turn off the air conditioning for the day, saving energy and money, and then return the house to your preferred temperature shortly before you return home.
These big data devices like Nest are a great way to ensure you are conserving energy without having to do the work yourself. I’m sure it also does a great deal to lower your bills as well, only using energy sucking devices when they are most needed. America has a long ways to go and much to change before being recognized as an energy efficient country, but these are some simple changes the energy companies and average families can do to help the cause!