When it comes to Big Data, we often think of user (human) generated social media data. But sensor (machine) generated data is a much bigger story as sensor data will drive the next wave of productivity growth and innovation.
Thanks to Big Data tools and technology, we can identify, store, retrieve and analyze data in a cost effective and timely manner.
Think about the possibilities this opens up in the area of aircraft preventive maintenance and fault prevention – resulting in reduced flight delays and cancellations because of technical issues with the plane.
Smart electric meters are another good example of sensors generating vast amount of data that can be used to drive productivity. Because of smart meters, electricity providers can read the meter once every 15 minutes rather than once a month. This not only eliminates the need to send some one for meter reading, but as the meter is read once every fifteen minutes, electricity can be priced differently for peak and off-peak hours.
These are just two examples. Now imagine the possibilities of what can be done with a vast array of sensor data that is analyzed and used in industrial and business processes in real-time.