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Data Analytics: In IoT Applications And Investments
- Volume: IoT applications make use of the huge collection of data sets. The organizations need to manage these large volumes of data and to analyze the same for extracting appropriate patterns. With data analytics these datasets along with real-time can be analyzed easily and effectively.
- Structure: IoT applications involve all types of datasets that may be structured, semi-structured and unstructured. There are chances that there can be a significant difference in the data formats and types. Hence, it allows the business executive to analyze all these varying datasets using automated tools and software.
- Driving Revenue: The data analytics in IoT investments will allow the business units to gain insights about customer's preferences and choices. This will lead to the development of services and offers the customer demands and expectations. And this in return leads to the organizations revenue and growth.
- Competitive Edge: IoT is a buzzword in the current era of technology and there are lot of IoT application developers and providers in the market. The businesses will offer better services with the help of data analytics and in return this will help them to gain the competitive edge in the market.