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Tech & Sourcing @ Morgan Lewis

TECHNOLOGY, OUTSOURCING, AND COMMERCIAL TRANSACTIONS
NEWS FOR LAWYERS AND SOURCING PROFESSIONALS

As the Internet of Things (IoT) continues to advance, companies are racing to identify and adapt to the changing nature of data collection and transmittal by these technologies. InformationWeek.com surveyed industry experts and insiders who described 14 ways in which the rise of the IoT will affect big data. From data collection and transmittal to storage and analysis, understanding and implementing appropriate security controls and user protections are crucial to navigating the quickly evolving IoT landscape.

With IoT technology integrated into more and more products, the article notes that “[t]he organizations embracing IoT devices see exponential increases in the amount of available data.” Current data transfer methods may not be best-suited to support the quantity of information that the growing number of IoT sensors, devices, and software will collect.

Once transmitted, the challenge will be how to effectively and efficiently store this vast quantity of information. Leaving information in the cloud may not be a viable option, both for purposes of accessibility and data protection. Storage may ultimately depend on the type of data that’s being collected—although image and video data may contain the most information, such data requires a great deal of bandwidth, often contains too much information, and augments the privacy concerns that surround this sort of data collection.

Along with these storage hurdles, businesses will need to adapt their data analytics infrastructure to keep up with the increased pressure to quickly realize value from the growing quantities of collected data. The article highlights that “Big data initiatives, including IoT endeavors, often require a hybrid approach to IT,” with the key being strong in-house capabilities that supplement third-party expertise to provide the flexibility to react quickly to new challenges.

Finally, ownership and privacy concerns will be present throughout the IoT lifecycle of all of data. From smart watches to smart grids, industry players will need to stay attune to claims of data ownership, be it from users, service providers, manufacturers, or other third parties. InformationWeek.com states, “[t]he answer may depend on the device, the information it generates, who requires the information and for what purpose, privacy and security issues, and the environment in which the device is operating.” And although companies are already navigating privacy and data protection regulations, the speed at which the industry is growing ensures that there will be increased regulation in the space.

Read the full article—14 Ways IoT Will Change Big Data and Business Forever.