On Thursday, April 24, SQLstream hosted a webinar exploring the potential of the Internet-of-Things. With a focus on monetization, the event expanded on harvesting real-time value from IoT services, discussing technology requirements, security concerns and likely directions for commercialization.
So what is the Internet of Things? To many, it’s about connected devices, where anything that can be connected will be, coupled with staggeringly large estimates for the number of connected devices in the near future as we move towards a connected everything society.
However, classifying the Internet of Things as a world of connected devices, is rather like classifying the Internet as a collection of fibre optic cables and switches. At one level of course this is true, but the power of today’s Internet is in access to information, information that’s available through websites and smartphone apps.
The power in the Internet of Things lies equally in access to information, in extracting intelligence from the connected devices, and making that intelligence accessible. The Internet of Things requires timely access, often in real-time, certainly at the right time, and with content that delivers the correct insights, enabling consumers to take the correct action, and for applications to automate the appropriate responses.
This webinar catalogs predictions for the Internet of Things and takes a look at why monetization of smart services for the Internet of Things requires technologies capable of processing in-memory, massive volumes of unstructured data of infinite variety. With Big Data storage technologies (such as Hadoop) unable to produce low-latency, real-time responses, real-time smart services for the Internet of Things can only be delivered as an extension of existing data storage platforms and enterprise systems, through alternative architectures such as stream processing.