The already massive amount of data being produced daily is going to proliferate with the growth of the Internet of Things (IoT). An innovative infrastructure must be able to accommodate the billions of connected devices being introduced worldwide that will generate unfathomable amounts of data.
“Within the next three years, the data created by IoT devices will reach 403 trillion gigabytes annually.”
– 99 Mind-Blowing Ways the Digital Economy is Changing the Future of Business, Source: Cisco, Global Cloud Index
Less than five years ago, Big Data was thought of as a data management challenge. Today, supercomputing power is everywhere, microprocessors are in every device, computers can be scaled as needed, and in-memory, real-time computing solutions are revolutionizing business software. As a result, data volumes are expected to grow to 6 billion petabytes, including unstructured data such as social networking and low-level IoT data.
The concept of IoT is not new, but what is new are the factors contributing to the popularity of IoT. The SAP eBook, Digital Disruption: How Digital Technology is Transforming Our World, says the extensive growth in the IoT market is due to three main factors:
- Inexpensive sensors. The cost of product sensors has dropped dramatically, allowing even startups to easily create innovative IoT product applications.
- Stronger computing power. Analytics and in-memory computing solutions enable the computing power necessary to gain insightful meaning from big data and data lakes in real time.
- Internet protocol IPv6. The new IPv6 enables immense IoT expansion by increasing IP addresses from 32 bits to 128 bits, which could support up to 78 octillion Internet addresses, allowing an almost unlimited number of people, processes, data, and things to be connected to the Internet.
How to manage it all
As everything becomes more connected, how will we use and manage this unprecedented amount of data? Data management and in-memory computing solutions are increasingly essential tools. They enable companies to unlock immense value from the volumes of data being collected from an escalating number of sources such as product sensors, mobile devices, machines, asset monitors, computers, and social media platforms.
New advances in in-memory computing technology delivering enriched interactive analytics will make it easier for businesses to combine structured transactional data from existing applications with new contextual data from multiple other sources, including IoT applications.
As the number of IoT sensors increases, the amount of information created from this exponential growth in IoT is sure to bring new meaning to the term “Big Data.”
Learn more about IoT, data analytics, and other facets of digital transformation in the SAP eBook Digital Disruption: How Digital Technology is Transforming Our World.
For an in-depth look at how the digital era is changing the business landscape, download the SAP eBook, The Digital Economy: Reinventing the Business World.
Take a closer look at one industry in the midst of digital transformation. Download the SAP eBook, Connected Care: The Digital Pulse of Global Healthcare.