We’ve all heard of the phrase “data is the new oil” and for very, very good reason. Data is valuable! In fact so valuable that in 2017 the value of data became the single most valuable single resource. Every large tech company knows the value of data which is why they guard it with such vigor. Similarly, they take every advantage to both collect that data and use it in a profitable way.
Data as a resource is very different to oil. If you want oil you go out and find where some oil is. You can calculate it’s value based on how much oil there is, how hard it is to get it etc… Data, on the other hand, doesn’t get found and then sold. Data needs to be collected, analysed and then deployed.
Why isn’t everyone collecting data if it’s so valuable? It’s actually quite simple. Data, rather, quality data is very hard to gather in quantities that are worth gathering. Data is also rather expensive to gather and then analyse.
This is how TechThrive can help you. Internet of Things is a critical component in the data gathering cog. Data is an electronic commodity. IoT is a way to get digital data from the physical world.
Sensors can be installed cheaply and quickly to start gathering data from the environment around you and your business. Early adopters of this technology are already saving millions with improvements in efficiency, reduced stock losses and better managed business processes.
TechThrive is able to help businesses implement IoT sensors throughout their business as well as process the data, looking for patterns to help optimise their overall result. TechThrive generates data from the real world and saves it in a structured and manageable format.