Technological development around the globe is moving fast and internet connection is making it possible. Currently, every gadget that can be connected to the internet can be used to store, generate, and process data thanks to the Internet of Things (IoT) technology.
Because of IoT, businesses can connect with millions of gadgets located anywhere globally and save on cost for data collection, create business opportunities, enhance productivity, and improve agility and mobility. Speed is important when gathering, storing, and processing data and in-memory computing is helping IoT technology work to the maximum.
New Data Source Avenues Created by IoT
Businesses have various reasons to use in memory computing but the main one is the need to handle large volumes of data. In the most typical scenario, the amount of data gathered when the sources are few is limited. However, when the sources increase, data volumes increase greatly, and thus the need for better storage arises.
Because of IoT, new and bigger data sources have been created due to wider connections to multiple gadgets. Some of the new data superhighways and sources created are smartphones, smart buildings, surveillance gadgets, retail operations, vehicles, and fleet equipment.
Businesses can also get data from factory equipment, medical devices, data centers, mass communication gadgets, and airspace machines such as airplanes, drones, gadgets orbiting space, and rockets.
In total, this is an enormous volume of data that can bring significant value to businesses if it’s generated, stored, and processed fast. The moment it becomes historical data, it can no longer add real-time value to businesses and hence it equates to a loss.
Providing IoT Solutions Through In-Memory Computing
Business owners and managers have a huge responsibility for improving business productivity using the available resources. One of the most precious resources is data harvested from multiple sources connected through IoT technology.
Statistics show there will be about 75 billion IoT devices that will be interconnected globally by 2025. Every single business globally will have an opportunity to tap into these gadgets using multiple means.
They might connect through social media, emails, telephone contacts, marketing websites, blogs, etc.
Daily data generated through these devices will be in petabytes every minute. IoT will have provided an important solution to businesses in terms of the need for massive data to help them improve on products and service delivery.
Unfortunately, the massive data generated through IoT will create another challenge. Businesses will need to store this data and process it fast to gain any tangible value.
Whether the data generated will be stored or not, IoT devices will continually generate more data and to the businesses, it will be like wasted opportunities.
In-memory computing will save the day by providing much-needed solutions for storage and processing.
That means, apart from connecting to millions of IoT gadgets, businesses will require another solution for bigger storage spaces and technologies with fast data processing capabilities.
In-Memory Computing – Definition and Importance
In-memory computing has been in use since the time computers were first invented. However, the technology has remained limited for many years because it could not provide permanent storage solutions.
Every time there was power loss or the computer was shut down, all data in the RAM would get lost.
Thankfully, better technology has made it possible to not only use RAM as temporary storage but also as a long-term storage solution, just like hard drives.
There is a greater advantage, though, because RAM provides fast data storage, retrieval, and processing solutions, unlike hard drives.
In-memory computing is a technology where all computer functions are run entirely in RAM. Its importance is to provide large-scale data processing capabilities in a situation where businesses are required to process complex data.
The technology is programmed to connect multiple computers which work in parallel and thus, each computer RAM processes smaller chunks of data at very high speeds.
Pairing In-Memory Computing With IoT to Make a Bigger Difference in Business Productivity
Every time a newer technology is created, it layers over its predecessor. For example, the internet was invented first and fast online mobility layered on top of it. Social media is on top of the two and IoT is so far on the topmost layer.
The rate of the invention is so fast that many businesses get overtaken before they even create seamless use of the previous technology.
To catch up, they have to leapfrog from one technology to the next. No business has reached the potential provided by all these technologies, let alone IoT.
The predecessors connected billions of devices but IoT has brought another chunk of trillions of connections.
Due to its magnitude, businesses can no longer rely on traditional technologies to store and process data. One of the best ways out is to connect in-memory computing technology with IoT to leverage on both.
The difference obtained is huge and immeasurable.
Think about it this way – IoT connects to billions of devices and thus creates trillions of connections. By connections, it means one device can generate data from multiple connections.
A single user could connect to social media, blogs, do online shopping, stream movies, watch the news, send texts, and book a flight online.
Now add the hundreds of connections per device multiplied by the billions of devices connected globally. The data is massive and beyond the capacity of traditional storage devices.
After a day, most of the data generated could go stale and not benefit the target business. There has to be a solution that provides superfast processing to keep with the data generation speed.
The way to go is in-memory computing, where businesses pair their in-memory computing platform with IoT so that every data generated per millisecond is stored and processed in real-time.
Something attractive might happen on a single social media platform and it attracts millions of users to that platform.
If a business can generate and process data fast, they can take advantage of such an opening, create an advertisement and post it. If data is processed the next day, it would be too late.
By pairing in-memory computing with IoT, businesses can make a bigger difference in business productivity. They will know where to place ads, which products to produce more, services to offer, etc.