How to leverage IoT Analytics to build value faster

According to Gartner, “The Internet of Things (IoT) will substantially impact companies worldwide, particularly as a technology enabler for digital business. A growing portfolio of IoT devices, device data, its persistence, analysis and integration with back-end systems, and subsequent IoT feedback and control will produce a seamless end-to-end IT choreography of intelligent operations and improved business outcomes.” Gartner, Predicts 2016: Unexpected Implications Arising From the Internet of Things, Ted Friedman, Earl Perkins, Alfonso Velosa, W. Roy Schulte, Kristian Steenstrup, 03 December 2015

We believe Gartner clearly makes the case for why IoT will transform business in their December 2015 “Predicts 2016: Unexpected Implications Arising From the Internet of Things” analysis.

So what is the problem?

Nearly every Internet of Things industry survey and market forecast has suggested that there is plenty of interest in the potential value of connecting products and even more reasons to pursue advanced IoT strategies with analytics. Yet, candid conversations with corporate executives at many major enterprises and leading technology companies reveal that it has been a challenge to capitalize on IoT opportunities and generate substantial business value.

The Analytics Maturity Model provides the path to gaining business value from IoT

As we discussed in our previous Analytics Maturity Model post, the IoT analytics Maturity Model we outline provides a path for business leaders to reliably capitalize on IoT opportunities and generate substantial business value.  Success with IoT analytics comes when an organization has the ability to proactively seize opportunities to drive new revenue or minimize costs.  The faster companies move thru the model, the bigger, better, faster the return.

The Analytics Maturity Model

Figure 1. The Analytics Maturity Model

Vitria’s Rapid Innovation Cycle acts as an acceleration pedal

In traditional analytical modeling, companies often make the mistake of working to create “perfect” models.  In the new IoT-centric world, the use cases and challenges are too complex to spend all this time upfront.  Instead, the goal is to keep it simple and agile.

Vitria’s unique approach to IoT Analytics is based on a rapid innovation cycle where predictive models are operationalized quickly to begin an iterative process  where the model ”learns” from experience and is improved quickly.  This “Innovation Cycle” is based on a set of easy to use self-service tools that generate value faster by putting simpler, more agile models into production sooner. Then the system itself leverages real word experience to iterate quickly, producing a more refined model that yields better results and insights quicker. Read more about the details in our blog post about Vitria’s Rapid Innovation Cycle.

IoT Analytics Innovation Acceleration

Accelerate ROI with the Vitria IoT Analytics Platform

By leveraging the Vitria Innovation Cycle in combination with the Maturity Model business leaders can gain the very fastest ROI in the shortest possible timeframe.  The combination of the two allow business leaders to get to the proactive stage in analytics with the least possible effort and the greatest possible return.  The basic maturity model curve we described in our first blog (green line below) is transformed via the Vitria Innovation cycle to yield greater business value faster (yellow line).

IoT Maturity Model

Learn more about how you can dramatically accelerate business value with Vitria’s IoT Analytics Platform

The fast analytics of Vitria’s platform combined with the self-service tools make it easy for you to accelerate the innovation and development process.  It all adds up to the ability to rapidly take advantage of your big data and IoT devices to deliver real business value faster than you thought was possible. This is something that other platforms and development options simply can’t match.

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