Welcome back -

Services for Organizations

Using our research, best practices and expertise, we help you understand how to optimize your business processes using applications, information and technology. We provide advisory, education, and assessment services to rapidly identify and prioritize areas for improvement and perform vendor selection

Consulting & Strategy Sessions

Ventana On Demand

    Services for Investment Firms

    We provide guidance using our market research and expertise to significantly improve your marketing, sales and product efforts. We offer a portfolio of advisory, research, thought leadership and digital education services to help optimize market strategy, planning and execution.

    Consulting & Strategy Sessions

    Ventana On Demand

      Services for Technology Vendors

      We provide guidance using our market research and expertise to significantly improve your marketing, sales and product efforts. We offer a portfolio of advisory, research, thought leadership and digital education services to help optimize market strategy, planning and execution.

      Analyst Relations

      Demand Generation

      Product Marketing

      Market Coverage

      Request a Briefing



        David Menninger's Analyst Perspectives

        << Back to Blog Index

        The Internet of Things: Real-Time Data and Analytics Enable Business Innovation

        The emerging internet of things (IoT) is an extension of digital connectivity to devices and sensors in homes, businesses, vehicles and potentially almost anywhere. This innovation means that virtually any appropriately designed device can generate and transmit data about its operations, which can facilitate monitoring and a range of automatic functions. To do this IoT requires a set of event-centered information and analytic processes that enable people to use that event information to make optimal decisions and take act effectively.

        To better understand how this technology is being deployed and used Ventana Research is launching benchmark research on The Internet of Things. The research will explore organizations’ experiences with IoT initiatives and with attempts to align IT projects, resources and spending with new business objectives that demand real-time intelligence and event-driven architectures.

        In many industries, organizations can gain competitive advantage if they can reduce the elapsed time between an event occurring and being able to take action or make decisions in response to it. Existing business intelligence (BI) tools provide useful analysis of and reporting on data drawn from previously recorded transactions, but organizations now are vr_IoT_and_OI_11_benefits_of_IoT_deployments-1concluding that employees and processes in IT, business operations and front-line customer sales, service and support also need to be able to detect and respond to events as they happen.

        Our previous Internet of Things benchmark research found that both business objectives and regulations are driving demand for new technology and practices. By using them many activities can be managed better, among them manufacturing, customer engagement processes, algorithmic trading, dynamic pricing, yield management, risk management, security, fraud detection, surveillance, supply chain and call center optimization, online commerce and gaming. Success in efforts to combat money laundering, terrorism or other criminal behavior also depends on reducing information latency through the application of new techniques.

        As with any innovation, embracing IoT may require substantial changes to any organization. These are among the challenges business leaders face as they consider adopting this evolving technology:

        • They find it difficult to evaluate the business value of enabling real-time sensing of data and event streams using radio frequency identification (RFID) tags, agents and other systems embedded not only in physical locations like warehouses but also in business processes, networks, mobile devices, data appliances and other technologies.
        • They lack an IT architecture that can support and integrate these systems as the volume and frequency of information increase.
        • They are uncertain how to set reasonable business and IT expectations, priorities and implementation plans for important technologies that may conflict or overlap. These can include BI, event processing, business process management, rules management, network upgrades and new or modified applications and databases.
        • They don’t understand how to create a personalized user experience that enables nontechnical employees in different roles to monitor data or event streams, identify significant changes, quickly understand the correlation between events, and determine the right decisions or actions to take.

        This research will continue our investigation of how organizations are dealing with these challenges and increasing their responsiveness to events by rebalancing the roles of networks, applications and databases to reduce latency; it also will explore ways in which they are using sensor data and alerts to anticipate problematic events. We will benchmark the performance of organizations’ implementations, including IoT, event stream processing, event and activity monitoring, alerting, event modeling and workflow, and process and rules management.

        Click here to participate in this research, and here to learn more about Ventana Research’s methodology and large body of business research. Ventana Research also has conducted research in related areas including Data Preparation, Machine Learning, Data and Analytics in the Cloud, Next-Generation Predictive Analytics and Big Data Analytics and Integration.

        Regards,
        David Menninger
        SVP & Research Director

        Authors:

        David Menninger
        Executive Director, Technology Research

        David Menninger leads technology software research and advisory for Ventana Research, now part of ISG. Building on over three decades of enterprise software leadership experience, he guides the team responsible for a wide range of technology-focused data and analytics topics, including AI for IT and AI-infused software.

        JOIN OUR COMMUNITY

        Analyst Perspective Policy

        • Ventana Research’s Analyst Perspectives are fact-based analysis and guidance on business, industry and technology vendor trends. Each Analyst Perspective presents the view of the analyst who is an established subject matter expert on new developments, business and technology trends, findings from our research, or best practice insights.

          Each is prepared and reviewed in accordance with Ventana Research’s strict standards for accuracy and objectivity and reviewed to ensure it delivers reliable and actionable insights. It is reviewed and edited by research management and is approved by the Chief Research Officer; no individual or organization outside of Ventana Research reviews any Analyst Perspective before it is published. If you have any issue with an Analyst Perspective, please email them to ChiefResearchOfficer@ventanaresearch.com

        View Policy

        Subscribe to Email Updates

        Posts by Month

        see all

        Posts by Topic

        see all


        Analyst Perspectives Archive

        See All