The technology ecosystem grew immensely in 2017 and we’re expecting even bigger things in 2018. Based on the predictions below we have a few ideas on what the next year has in store for the Internet of Things, Location and Big Data.
Here’s a roundup of 2018 predictions
Forrester Research predicts that IoT will become the backbone of future customer value. The IoT infrastructure will shift to the edge and to specialized IoT platforms, developers will have a significant impact on platforms and initiatives, and security will remain a key concern.
Forrester also predicts that marketers will fully wake up to the IoT opportunity, while wearables remain a niche industry.
Kipp Jones, Chief Technology Evangelist at Skyhook, predicts vertical analytics and machine learning using a combination of sensor, location and time data will become more prominent. One example is truck maintenance based on routes driven. Another example is risk assessment based on time/location.
Gartner forecasts that IoT will soon be in everything. For example, by 2020 IoT technology will be in 95% of new product designs for electronics.
Kipp Jones predicts that Bluetooth/BLE becomes ubiquitous for location and proximity in 2018. He also forecasts that location-based AR/VR will become increasingly popular.
Tableau predicts that the location of things will drive IoT innovation. One positive trend they are seeing “is the usage and benefits of leveraging location-based data with IoT devices. This subcategory, termed “location of things,” provides IoT devices with sensing and communicates their geographic position. By knowing where an IoT device is located, it allows us to add context, better understand what is happening and what we predict will happen in a specific location”.
Brian Ross, President of retail analytics firm Precima, predicts that retailers will invest more in capturing localized data. For example, Target plans to complete building 32 locations before the end of 2017, many of which will be small formats that could collect hyper-local data to be used for better-tailored assortments.
Forrester forecasts the insights-as-a-service market will double as insight subscriptions gain traction.
Tableau predicts the rise of the Chief Data Officer. They believe “data and analytics are becoming core to every organization. As organizations evolve, they’re prioritizing a new level of strategic focus and accountability regarding their analytics”.
IDC forecasts that by 2020, 90% of large enterprises will generate revenue from data-as-a-service. Enterprises' ability to create, derive, and manage high-value data for their own use – and gain financial leverage by packaging some of that data for the marketplace – will quickly become an important metric in enterprise valuations.
Kirk Borne predicts that that we will see much more focus on the ROI of Big Data and Machine Learning projects in 2018. “The marketing hype on these topics has been intense for a few years, and I believe that the data community (and its observers) have developed ‘hype fatigue’,” says Kirk.
The Bottom Line
We have a lot to expect in 2018 when it comes to technology. We’ll see the Internet of Things be more prominent than ever before, Big Data become imperative to every business and location intelligence become crucial for companies to progress and have a competitive advantage.