Big Data, IoT and AI: The next industrial revolution

The Internet-of-Things provides today a huge amount of data. However, the data by themselves do not provide any value. All this data has to be turned into contextualized information. Big data allow us to gain new insights by processing all data via off-line analysis. Artificial intelligence will provide us the possibility to analyze and make decisions in real time.

By Miguel Angel Trabado

Frecuent speaker at international business conferences. Marketing Professor at ESERP, ESDEN, INESDI and EUNCET Business School. Speaker and trainer at IESE Business School . Co-Director of the Master in Digital Marketing and Social Media at ESERP.

Big data is about data: Really simple, we could discuss many topics about it but at the the end of the day, it’s all data.

Internet of things (IoT) is about data, devices and connectivity: Data in the IoT pool of connected things.

Artificial Intelligence (AI) is about the capability of a machine to imitate intelligent human behavior: Actually we have AI computers designed and built specifically for big-data analysis.

The concept of Big Data applies to all information that is structured and which can not be analyzed using traditional tools or processes because of its enormous size. We are talking about petabytes and exabytes.

• Petabyte = 1,000,000,000,000,000 bytes.

• Exabyte = 1,000,000,000,000,000,000 bytes.

We are living a great emphasis not only on the collection of new data, but also in storing them. Too often we speak of "Big Data" a little lightly. We must look at the "big data" not so much in terms of data size or type of database, but rather as an evolution of the necessary infrastructure, allowing us to solve problems through synthetic analysis.

A large volume of data makes no sense by itself, is primarily a means to an end, not the end itself, allowing us to solve problems, anticipate solutions and make predictions.

To work and exploit Big Data properly we must take into account four parameters:

• Volume: Ideally, a petabyte or more.

• Velocity: collection and processing of data very quickly.

• Variety: data in various formats, non-relational.

• Value: It represents a competitive advantage for business.

What happens on the internet on one minute?

• Ussers send more tan 200 million emails

• YouTube upload 300 hours of video

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