By 2020, it is expected that there will be between 20 and 30 million IoT units in the marketplace, according to a study conducted by Gartner. With this much data being collected, the need for a way to analyze it grows exponentially. Many of the enterprise applications for IoT analytics, such as in manufacturing, finance, telecom, healthcare, and others have unlimited potential when data is managed and analyzed correctly.
To meet this need, IoT analytics has emerged as the broader category of uses and applications designed to help analyze the data obtained by IoT sensors. Once this data has been properly analyzed it can then be used to help make better, data-driven decisions for organizations that are in search of a competitive edge.