Video: Verticals must share data to unlock true value of IoT: DNV-GL
Consumer IoT products and services tend to get all the attention in the general media – sometimes for the wrong reasons – but industrial IoT is a fast-growing opportunity in the verticals space, especially in APAC.
But it’s also fraught with challenges rooted in the complexity of IoT and big data – verticals like oil & gas, maritime, wind-farm operators, etc, have to deal with so much different data coming in, it’s difficult to make sense of the whole.
That’s where companies like DNV-GL hope to come in. Mathias Steck, executive VP and regional manager of APAC for Energy Renewables Advisory, Energy at DNV-GL, explains to Disruptive.Asia editor John Tanner how DNV-GL – whose background in verticals goes back a whopping 150 years – can take all that data onto their analytics platform and give them the big picture of what the data means and what they can do with it.
Steck also explains that while industrial IoT platforms have a lot of promise, unlocking its true potential will require figuring out how to interconnect data coming from different platforms to create something bigger. That means convincing verticals to move past their protectionist instincts and realize that there is greater value in sharing over hoarding.