Analytics of Things (AoT) Market - Opportunity and Forecast, 2017-2023
Analytics of Things (AoT) derives meaning out of massive data generated by IoT devices, which is helpful for the organizations to make appropriate decisions and improve overall business operations. The types of AoT are diagnostic, descriptive, predictive, prescriptive, and automating. It is an emerging frontier in the field of analytics and faces many challenges, such as data collection during implementation of AoT. In addition, limited data is derived out of massive databases that is further analyzed for decision-making. However, the market witnesses many concerns about data privacy and security due to lack of standardized protocols. Moreover, a proper infrastructure and a skilled workforce are mandatory to overcome the challenges faced by the AoT industry. At present, the industry witness rapid growth with technological advancements and increased usage of internet, mobile, and social media.
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