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How business models change when Big Data real time analytics meet the IoT

September 2018

 

A perfect union that between Big Data real time analytics and the Internet of Things. With the IoT, in fact, sensors and objects connected continuously send feedback in the form of “raw” data: data on the environmental conditions (pressure, temperature…) in which the industrial machinery is used and data on how smart objects are used. Data on possible technical issues, failures and malfunctions… It is, therefore, of fundamental importance to get equipped with a technology for the analysis of Big Data which, thanks to the right algorithms and the computing power available in the cloud, allows us to perform real time processing and generate triggers, alarms and immediate action. Yet, not all monitored parameters must be subject to real time re-elaboration – affirms Matteo Torelli, Head of Business Development at Neodata. The strength of Neodata lies precisely in its ability of handling Big Data intelligently and effectively. Not only are we able to offer a cutting-edge technological platform, but above all, we are a partner able to offer consultations while meeting business needs and understand, for example, the economy of a broadcasting company or of a bank and that of an insurance company, what information makes sense to be treated in real time and which, instead, can be stored and used at a later date to more complex analyses. During the “Real time analytics” Workshop on September 18th, organized by the School of Management Polytechnic of Milan, in the context of the Observatory Big Data Analytics and Business Intelligence, a successful case history was presented, initiated from the collaboration between Neodata and Mediaset, with the shared participation by Matteo Torelli and Guido Confalonieri, Director of AdTech Strategies & Business Development TV of Publitalia 80 Gruppo Mediaset. The manager recounted the innovative project (worldwide, there exist 2/3 cases) obtained with the Neodata partner illustrating the benefits of addressable advertising and that of Big Data real time analytics applied to the world of smart TVs.

 


 

Big Data real time analytics offers personalized products

 

Nowadays, connected and smart TVs are an invaluable source of information on the preferences and habits of the audience. Neodata’s technology allows Mediaset to track over 2.5 million connected TVs, to timely profile the viewers while offering new and more effective advertising products. When IoT and Big Data real time analytics meet, both suppliers of products and services and buyers/users are winners. « The Internet of Things offers manufacturing companies the possibility of precisely understand how our products are utilized. This, on one side allows us to best direct the research and development activities, but on the other it also means to be able to enable new business models which aim at having demands that can converge more seamlessly. New ways of delivering offers that are more convenient both for the manufacturer and the client, developed on the basis of the continuous and in real time analysis of Big Data, that is in the thousands, and in some cases millions of data which connected devices continuously send data». In the case of the smart TV, this means that today it is possible to offer the audience advertisements that are more in line with their profiles and needs. In the future there will be more space for personalized content delivered in real time.

 


 

A more effective and efficient management of Big Data

 

A success story that created a lot of interest in the workshop’s participants. The model of the real time analysis of Big Data lends itself to be replicated (with the appropriate adjustments) as well as that of other fields. In TCOMM, for example, for real time analysis of the quality of network services. In Food & Beverage to improve the control of production systems. In insurances to personalize policies based on real time monitoring of the insured’s behavior. But also in the MD, where the instantaneous and continuous analysis of the movements at the point of sale will allow, in the very near future, to set up triggers (that is automatisms) for the automatic re-stocking and dynamic pricing. Or, lastly, in banking where experimentations are presently active on the opportunity of continuously monitoring the flow of micropayments, through their geolocation. «Technology and enabling experiences are always the same – concludes Torelli. Everything is based on the ability to acquire information from many distributed devices and understand, based on business needs, what data is useful to needed immediately to generate insight and which, instead, is more appropriate to retain, to then be submitted to a more complex analyses such as those related to forecasting activities. We, at Neodata, know how to do it the right way! ». The potential of real time analytics applied to the management of Big Data shall be presented again by Neodata in the Research Report which shall be distributed at the final meeting of the results’ presentation in the Big Data Analytics and Business Intelligence Observatory.