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IoT Evolution Business Impact Awards given to businesses who deployed successful IoT Solutions.
Today our fearless leader, Shawn Conahan, CEO of Tellient, gave a keynote address at the first AllSeen Alliance Summit. Shawn covered topics related to Analytics for the Internet of Things, including descriptive analytics predictive analytics and prescriptive analytics and how they are applied to connected devices.
Shawn discussed how manufacturers can extract the greatest value from their products and customer relationships, by including device analytics in their value chain. Connectivity provides the link to customers, but analytics is the link to understanding them.
That's, "Hold My Beer While I Explain Like I'm 5, Internet of Things, Ok?"
I had a great question come up about 5 minutes ago on our Facebook page by my friend, the IVR Voice, Allison Smith. It's 7:30 on a Friday night and yeah, I've cracked a local San Diego IPA and was settling into a long night of dorking around on the Internet. I love the question and needed more room than Facebook allows, though:
Most people are familiar with the concept of analytics: At it's most basic, analytics is about finding meaningful patterns in data. That sounds like a smart thing to do, and it is, because the meaningful patterns in your data generally represent some kind of opportunity.
For instance, you might be trying to figure out whether the button on your website should be green or red. Make the button green for a few days, then make it red for a few days and compare the patterns in your data to see which one gets clicked on more. (It turns out it’s red.) This sort of A/B testing is among the simplest of analytics exercises, and looking at a relatively small amount of data can yield astounding insights that can lead to impressive results if acted upon.