Almost every organisation uses data to become smarter, faster and better. Many now recognise the value of the wealth of information IoT provides. Yet I still see this information being underused. There is an endless appetite for collecting more data, while we are not getting enough out of the data we already have. That is a missed opportunity, because making real progress means squeezing every last bit of value from your data. Examining and interpreting it in detail is the key to moving forward. In other words, get out the citrus press and give it a thorough squeeze. Only then will you get orange juice containing what really matters: those valuable data vitamins. 

‘Less is more’ is a familiar saying that also applies to IoT. An overload of machine data can lead to excessive analysis, or what is known as ‘analysis paralysis’. More data can blur your focus and distract you from your goal. It also brings substantial costs, because all that data needs to be interpreted, processed and stored. My advice is to take things step by step. Start by generating a small amount of data and build a business case as quickly as possible. Before expanding the process to add more value, analyse that relatively small dataset down to the last drop.

One example I often use is smart energy meters. Their data tells us how much electricity is being consumed. Energy suppliers can use this information to offer customers advice and tips about their consumption. But examining the data more closely could reveal which appliances are being used. A two-minute spike at 900 watts could indicate that the microwave is running, while two hours of consumption at 1,300 watts probably points to a tumble dryer. Insights like these can make advice even more personal, smarter and more efficient, without adding any measurement points.