According to a report by AIG, there will be 40 to 50 billion connected objects by 2020. A world where the much-lauded Internet of Things (IoT) provides a colossal amount of data is already our reality. But how do we make sense of this incoming deluge of information?
Meet the Internet-of-Things analytics platform Buddy. The Seattle-based tech firm collects, processes and delivers massive amounts of IoT data generated by any connected device at large scale--in high velocity and in real-time.
Organizations have been scratching their heads trying to unlock the hidden value of their data for some time now. This new platform claims to have delivered the first-to-market IoT data graph and could bring on a wave of data-driven services that offer tangible business benefits.
Buddy's IoT data graph enables organizations to analyze data from any IoT device in real time using a broad range of best-in-class BI (business intelligence) and M2M ( machine to machine) applications or systems.
The company insists that all Buddy requires is the addition of only three to five lines of code in any connected device. This allows the simplified process to be designed to connect any device to any backend application or system.
The IoT data graph platform is purposely designed to be operating system-agnostic and can connect any device, sensor, appliance or beacon to any of the world's most popular data mining software tools, securely and instantly.
By replacing what has traditionally been an expensive and labor intensive process, it now enables businesses to process their IoT data for faster business decision making.
Reducing the infamous IoT data connectivity friction is the first obstacle preventing organizations from unlocking their data. Buddy also aims to enable companies to gain a dynamic understanding of customers and market insights much faster.
The goal for the team at Buddy is to successfully fill the gap in today's market for a platform that allows real-time access and analysis of data generated by connected IoT devices for prediction and optimization. IoT's greatest value lies here. It will be very interesting to see if Buddy lives up to these promises.
The removal of the labor-intensive process of collecting, managing and
analyzing IoT big data is a huge step forward in efficiency. It appears that our guilty pleasure of instant gratification is making its way into boardrooms where CEO's increasingly demand fast, simple and real-time process of data.
Businesses have invested a phenomenal amount of resources into capturing data. It now feels that we are entering phase two of this digital transition, in which we need to make sense of the information and understand how it can deliver real value.
To be sure, only time will tell if Buddy has the master key to unlock this wealth of opportunities hidden in our data. But the fact we are now actively looking for solutions to this problem is certainly progress.
The startup has financial backing from Microsoft Ventures and a fund set up by singer Lady Gaga. After leaving his beloved Australia to join Microsoft in Seattle, founder and CEO David McLachlan used his 11 years of experience and knowledge with the software giant to go it alone in the cloud center of the world.
Check out my interview with Adelaide-born the Buddy founder, who discusses his journey from Australia to Microsoft to founding a U.S.-based technology company.