Dec 10

Technology & Entrepreneurship: Why Internet Marketing Should Be Part Of Every Business?

Many entrepreneurs are still tied to the old marketing strategies, giving them a hard time establishing a known identity in the market. While traditional marketing strategies are the fundamentals of marketing, some of these do not actually worth the money and hard work anymore. There is a need to take the business into a whole new paradigm – the Internet.

People’s engagement on the Internet becomes more and more frequent. According to study, people spend over 27 hours on the Internet each week, and 20% of it is spent on social media websites. This is a good news for entrepreneurs. This means it would be much easier to connect with target customers online than it is in real world. This is where Internet Marketing comes to play.

For example, before making any future purchases, most people rely on the Internet to get as much information as necessary to make a wise decision about a certain purchase. So, the customer is basically searching for a website. Internet Marketing is just the right tool to pull out your website or website contents as a result of the search – this would be through SEO – allowing the business to be seen by millions of people. Social media is also a perfect channel for Internet Marketing. In a report by Chron, social media is the most common medium used by most people to search for a product online.

To wrap it up, Internet Marketing simply helps in increasing visibility in the market as entrepreneurs can now have a more direct way to engage with their target customers. Apart from that, Internet Marketing helps in creating, organizing, and reusing of business data to track customer-product engagements – an activity that allows every business owner to predict the future of the company, which is less achievable with traditional marketing.

Here are a few reasons why Internet Marketing is important in every business:

Increased visibility

With millions of people that surge the Internet, there is a higher probability of any enterprise to be recognized in the market much more than it would do in a brick-and-mortar.

Countless connections

In that 20% social media engagement, 14% goes to Facebook. With social media on the rise, Internet Marketing offers a whole new bait.

Competition-wise

It’s not enough to have a website published on the web. It must be coupled with great Internet Marketing strategy to keep up with many businesses that have gone online.

Internet Marketing sounds like a complex endeavor. However, with the right team, IM is acutally easy-peasy.

For more business tips, check out a report by Jobs Hire about the impact of social skills in business.

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/technology-entrepreneurship-why-internet-marketing-should-be-part-of-every-business/

Dec 09

Technology & Entrepreneurship: Why Internet Marketing Should Be …

Many entrepreneurs are still tied to the old marketing strategies, giving them a hard time establishing a known identity in the market. While traditional marketing strategies are the fundamentals of marketing, some of these do not actually worth the money and hard work anymore. There is a need to take the business into a whole new paradigm – the Internet.

People’s engagement on the Internet becomes more and more frequent. According to study, people spend over 27 hours on the Internet each week, and 20% of it is spent on social media websites. This is a good news for entrepreneurs. This means it would be much easier to connect with target customers online than it is in real world. This is where Internet Marketing comes to play.

For example, before making any future purchases, most people rely on the Internet to get as much information as necessary to make a wise decision about a certain purchase. So, the customer is basically searching for a website. Internet Marketing is just the right tool to pull out your website or website contents as a result of the search – this would be through SEO – allowing the business to be seen by millions of people. Social media is also a perfect channel for Internet Marketing. In a report by Chron, social media is the most common medium used by most people to search for a product online.

To wrap it up, Internet Marketing simply helps in increasing visibility in the market as entrepreneurs can now have a more direct way to engage with their target customers. Apart from that, Internet Marketing helps in creating, organizing, and reusing of business data to track customer-product engagements – an activity that allows every business owner to predict the future of the company, which is less achievable with traditional marketing.

Here are a few reasons why Internet Marketing is important in every business:

Increased visibility

With millions of people that surge the Internet, there is a higher probability of any enterprise to be recognized in the market much more than it would do in a brick-and-mortar.

Countless connections

In that 20% social media engagement, 14% goes to Facebook. With social media on the rise, Internet Marketing offers a whole new bait.

Competition-wise

It’s not enough to have a website published on the web. It must be coupled with great Internet Marketing strategy to keep up with many businesses that have gone online.

Internet Marketing sounds like a complex endeavor. However, with the right team, IM is acutally easy-peasy.

For more business tips, check out a report by Jobs Hire about the impact of social skills in business.

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/technology-entrepreneurship-why-internet-marketing-should-be/

Dec 08

UNH-IOL Shines Spotlight on Internet of Things Interoperability

DURHAM, N.H.–(BUSINESS WIRE)–The University
of New Hampshire InterOperability Laboratory
(UNH-IOL), an
independent provider of broad-based testing and standards conformance
services for the networking industry, today announced the launch of the Internet
of Things (IoT) IP Testing Services
.
Created to offer custom Internet Protocol (IP) test services for IoT
products specific to home environments, industrial networks, smart
cities, and connected cars, the group will help improve IoT
interoperability, reducing time-to-market and enhancing the customer
experience. The IoT IP Testing Services will also offer testing for the
IPv6 Ready IoT Logo launching in Spring 2017.

“As the world becomes increasingly connected and demand for IoT devices
grows, companies are facing the challenge of how best to ensure
interoperability, functionality, and security, while maximizing quality
of experience for customers,” said Timothy Winters, Senior Executive,
Software and IP networking, UNH-IOL. “The UNH-IOL IoT IP Testing
Services provide a competitive advantage by enabling emerging IoT
companies to validate their devices through trusted, third-party
interoperability testing.”

One of the first labs approved to issue the IPv6
Forum’s
IPv6 Ready logo, UNH-IOL’s IoT IP Testing Services deliver
access to a multimillion-dollar test bed, custom IP testing services,
and an array of networking experts with more than 60 years of combined
experience in IPv6 protocols and testing. Emerging loT companies will
gain competitive benefits from the group’s services, such as increased
confidence in interoperability between security functionality, and
accelerated market deployment cycles.

“Operators’ networks will need to evolve in order to address the coming
IoT opportunity, and consider how security will play a role in IoT
configuration agility and smart service flexibility for vertical
industries,” said Lancen LaChance, Vice President Product Management,
GlobalSign. “Ensuring IoT device security and identity is essential, as
illustrated by recent DDoS attacks. By having their devices validated
through the IoT IP Testing Services, IoT device manufacturers can be
certain their products are optimized for and compliant with operator
security requirements and changing network conditions.”

The IPv6 Forum is developing an IPv6 Ready Logo specifically for the IoT
market. The logo validates basic IPv6 functionality, addressing privacy,
and domain name system (DNS) services. This extensible service will have
the ability to address future security request for comments (RFCs) such
as data transport layer security (DTLS), Lightweight IKEv2, and simple
certificate enrollment protocol (SCEP). Beginning in spring 2017, the
IoT IP Testing Services will begin offering testing for the IPv6 Ready
Logo to companies demonstrating verified protocol implementation and
validated interoperability between IPv6 products. The IPv6 Ready Logo
serves as a marketing Logo l, giving consumers the confidence of
interoperability when purchasing new devices.

“Ensuring IoT devices operate correctly in different settings is
essential for IoT manufacturers to meet new customer demand,” said David
Blaine, Lead Software Engineer, Hayward Industries, Inc. “From TVs to
game consoles to thermostats, there is an influx of consumer-based IoT
products already reaching the marketplace. With access to extensive test
beds at the UNH-IOL, manufacturers can ensure their products function as
designed in the environments in which they will be deployed.”

For more information on the IPv6 Ready logo or the IoT IP Testing
Services, please visit http://bit.ly/IoTIPTestingServices.

For additional information, please view the UNH-IOL
IoT IP Testing Services Press Conference
.

About the UNH-IOL
Founded in 1988, the UNH-IOL provides
independent, broad-based interoperability and standards conformance
testing for data, telecommunications and storage networking products and
technologies. Combining extensive staff experience, standards-bodies
participation and a 28,000+ square foot facility, the UNH-IOL helps
companies efficiently and cost effectively deliver products to the
market.

www.iol.unh.edu
| Twitter
@UNH_IOL
| Facebook
@UNHIOL

LinkedIn
@UNH InterOperability Lab
| Instagram
@unhiol

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/unh-iol-shines-spotlight-on-internet-of-things-interoperability/

Dec 07

Can Internet Comments and Search Results Prove Trademark Infringement?

trademark-searchYou’ve selected a unique trademark, marketed and sold products under the brand, and continue to build up a base of satisfied customers. But then a new company emerges with a very similar trademark, piggybacking on your success. Even your customers are outraged and post comments about your companies’ similar trademarks. You’re delighted, but can you skip the survey and use these internet comments as evidence of confusion? This article addresses the admissibility of internet evidence and its probative value.

Evidence of Past Actual Confusion Is a Silver Bullet – Effective, but Rare

To determine if your competitor is infringing your trademark, courts evaluate whether consumers are likely to be confused about the source of the products coming from the two trademarks. Examples of actual confusion strongly suggest a future likelihood of confusion. See United States Court of Appeals for the Ninth Circuit Model Civil Jury Instructions No. 15.6. But persuasive actual confusion evidence based on internet comments or search results is uncommon. Even when admissible, internet evidence may not support relevant consumer confusion, or there may be insufficient evidence to show a customer is likely to be confused.

Internet Comments Survive the Hearsay Rule and Are Generally Admissible Evidence

It is often difficult to identify the speaker of online comments. But the statements are not hearsay if they concern the source of products rather than the speaker’s confusion, for example, “Nutella makes great coffee for Starbucks.” In this case, the statements are not offered for the truth of the matter asserted (that Nutella actually makes great coffee for Starbucks). Instead the statement is offered to show assumed association between the parties. FRE 801(c) (2); see, e.g., ABT Systems, LLC v. Emerson Electric Co., Case No. 4:11-CV-00374 AGF, 2013 WL 468501, *1 (E.D. Mo., Feb. 7, 2013) (denying motion in limine to exclude “customer product reviews appearing on the Internet” as long as “not offered for their truth of the matters asserted”). And even if the commenter expressly mentioned her confusion (“I mistakenly thought Nutella made Starbucks coffee”), the comment would be admissible under the state of mind exception to the hearsay rule. FRE 803(3). See JIPC Mgmt. v. Incredible Pizza Co., No. CV 08-04310, 2009 U.S. Dist. LEXIS 133019, *48 (C.D. Ca., July 14, 2009) (finding certain emails were admissible under the state of mind exception since the emails “reflect the correspondents’ belief that [plaintiff] operated defendants’ Tulsa restaurant”).

But Internet Comments Seldom Support Confusion Regarding Source

Instead of showing confusion about the source of a product, typos and misspellings may only show that words are “very close” or that “some people spell badly.” Pignons S.A. de Mecanique de Precision v. Polaroid Corp., 657 F.2d 482, 489 (1st Cir. 1981). Since these anonymous speakers will not be available to clarify what they were thinking while they posted their comments, courts have a difficulty attributing the speaker’s error to confusion rather than carelessness. Thus, courts have found that misspellings of a competitor product name on the internet are not evidence of “instances of actual confusion by [a company’s] customers regarding the source of its products.” Groupion, LLC. v. Groupon, Inc., 859 F.Supp.2d 1067, 1079 (E.D. Ca. 2012).

Even internet evidence that does show confusion about product source may only suggest that the internet user “appears to be someone so easily confused that even trademark law cannot protect her.” See Uber Promotions, Inc. v. Uber Technologies, Inc., 162 F. Supp. 3d 1253, 1272 (N.D. Fl. 2016). The low quantity, and quality, of internet comments can also limit their persuasiveness since not every individual’s statement will represent the broader consumer base, particularly for companies with large sales volume. See Scott Paper Co. v. Scott’s Liquid Gold, Inc., 589 F.2d 1225, 1231 (3rd Cir. 1978) (finding “nineteen misdirected letters” to be “extremely minimal evidence” given sales of 50 million). Confusion of only a few individuals may indicate that “a significant portion of the general public is not likely to be confused.” See Kendall-Jackson Winery, Ltd. v. E. J. Gallo Winery, 150 F.3d 1042, 1052 (9th Cir. 1998). Cherry-picked examples of actual confusion should not support a likelihood of confusion.

And Relevant Internet Comments Should Come From Prospective Purchasers

To assess actual confusion, “courts must focus on whether prospective purchasers — and not other industry members or general members of the public — are likely to be deceived.” Bulman v. 2BKCo, Inc., 882 F. Supp. 2d 551, 562 (S.D.N.Y. 2012). Thus, a court found a vendor solicitation email indicating confusion “not probative on the issue of actual confusion” by consumers. 27-24 Tavern Corp. v. Dutch Kills Centraal, No., 14-CV-1625, 2015 U.S. Dist. LEXIS 133648, *42 (E.D.N.Y., Sept. 14, 2015). Courts have also found internet comments irrelevant when made by persons from other countries who have no knowledge of U.S. market conditions. See Paco Sport, Ltd. v. Paco Rabanne Parfums, 86 F. Supp. 2d 305, 320 (S.D.N.Y. 2000); see also Icon Enters. Int’l v. Am. Prods. Co., No. CV 04-1240, 2004 U.S. Dist. LEXIS 31080, *110-111 (C.D. Ca., Oct., 7, 2004) (holding that internet chat room comments “by unknown and unknowable users” were irrelevant).

And even though consumer inattentiveness during purchasing decisions is relevant to the likelihood of confusion inquiry, consumer inattentiveness at other times may not suggest product source confusion. Instant Media, Inc. v. Microsoft Corporation, No. C 07-02639 SBA, 2007 WL 2318948, *14 (N.D. Ca. Aug. 13, 2007) (“Relevant confusion is that which affects purchasing decisions, not confusion generally.”). For example, evidence that a customer sent an inquiry regarding the defendant to the plaintiff and then sent a follow-up email stating “oops” “suggest[ed] carelessness as much as, if not more than, confusion.” Uber Promotions, Inc., 162 F. Supp. 3d at 1272. And, misdirected communications are not evidence that a purchasing decision is at stake or that there is “a significant risk to the sales, goodwill, or reputation of the trademark owner.” Id. (quoting Dorpan, S.L. v. Hotel Meliá, Inc., 728 F.3d 55, 63-64 (1st Cir. 2013)); see also Therma-Scan, Inc. v. Thermoscan, Inc., 295 F.3d 623, 636 (6th Cir. 2002) (holding that misdirected consumer emails were more likely to indicate that consumers “were inattentive or careless when attempting to find the e-mail address for [defendant] rather than confused about the source of the [product].”)

Search Results Likewise Show Neither Source Confusion nor Consumer Confusion

While internet comments about companies are plentiful, it is often even easier to compile search results where a search for the plaintiff’s product will also provide a consumer with access to the defendant’s product. But a search engine is not a consumer. Thus, courts have criticized these “attempts to prove actual confusion of consumers using evidence that ‘the Google search engine is now confused.’” Dahl v. Swift Distrib., Inc., No. 10-00551, 2010 U.S. Dist. LEXIS 35938, *24-25 (C.D. Ca., April 1, 2010) (finding no evidence of actual confusion and denying a temporary restraining order); see also Oculu, LLC v. Oculus VR, Inc., No. 14-0196, 2015 WL 3619204, *13 (C.D. Ca., June 8, 2015) (holding that the “propensity to auto-correct searches” “is not evidence of customer confusion”); Quia Corp. v. Mattel, Inc., No. 10-1902, 2011 U.S. Dist. LEXIS 76157, *9-10 (N.D. Ca., July 14, 2011) (“the mere fact that an Internet search engine intermingles links to two products is not evidence of consumer confusion”). A consumer who inputs search terms relating to the plaintiff may not attribute the defendant’s product to the plaintiff merely because the search returns an entry for the defendant’s product. Consumers expect a search to return unrelated products. See Multi Time Mach., Inc. v. Amazon.com, Inc., 804 F.3d 930, 932 (9th Cir. 2015)(affirming summary judgment for defendant “[b]ecause Amazon’s search results page clearly labels the name and manufacturer of each product… [so] no reasonably prudent consumer accustomed to shopping online would likely be confused as to the source of the products.”); see also Groupion, 859 F.Supp.2d 1067,?1079?(E.D. Ca. 2012) (holding that a “customer was not confused” when a Google search for the defendant returned the plaintiff’s unrelated product). But search engine results can be used to show that products occupy the same market or that a mark is descriptive. See Treemo, Inc. v. Flipboard, Inc., 53 F. Supp. 3d 1342, 1362-63 (W.D. Wa. 2014) (holding that Google search results “show[ed] that the two [products] operate within the same space”); In re Fitch IBCA Inc., 64 USPQ2d 1058, 1060 (TTAB 2002) (Board found that Google search results were some evidence that mark was descriptive); cf. In re St. Helena Hospital, 774 F. 3d 747, 754-55 (Fed. Cir. 2014) (“Advertising on the Internet is ubiquitous and proves little, if anything, about the likelihood that consumers will confuse similar marks used on such goods or services.”).

Takeaways

Internet evidence is generally admissible and most relevant when it relates to an actual customer’s own mental state of confusion. Helpful evidence will concern inattentiveness or confusion during customer purchases rather than other dealings with the company such as sending emails to the right address. And the evidence should be from relevant purchasers rather than vendors or third-party businesses. Given these tight parameters for internet comments and search results, they are not plaintiff’s golden goose. Instead, a plaintiff will still need to assess confusion based on factors like how similar the goods, trademarks, marketing, and consumers are, and whether the consumers are careful or the defendant intended an association with the plaintiff’s brand. An expert survey can also clarify that the evidence of customer perception comes from actual consumers and that it affects purchasing decisions. But even where internet evidence can help, it likely will not be strong evidence of a likelihood of confusion.

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/can-internet-comments-and-search-results-prove-trademark-infringement/

Dec 06

Crackdown on financial spread betting proposed by FCA

Trader watching monitorImage copyright
AFP

New rules to help protect investors using financial spread betting – in which 82% have lost money – have been proposed by the financial watchdog.

The Financial Conduct Authority wants to tackle the “contract for difference” (CFD) market, which includes financial spread betting.

It fears that retail customers are using products they do not understand.

The CFD market offers the opportunity to speculate on a shift in the market without owning the underlying asset.

The FCA is proposing measures to limit the risks of CFD products and ensure that customers are better informed.

“We have serious concerns that an increasing number of retail clients are trading in CFD products without an adequate understanding of the risks involved, and as a result can incur rapid, large and unexpected losses,” said Christopher Woolard, the FCA’s executive director of strategy and competition.


Analysis

Image copyright
AFP/Getty Images

Image caption

Plus 500 are one of Atletico Madrid’s sponsors

Simon Gompertz, BBC personal finance correspondent

Some 125,000 small investors are active in betting on movements in shares and currencies rather than buying the underlying investment.

Spread betting firms are relentless in recruiting them, by blazoning their brands on football shirts, on public transport and in free newspapers.

The internet has made dealing and advertising much easier. The companies pay to feature prominently on internet search engines and advertise on social media.

A handful of players dominate in the UK, but 96 are authorised and another 130 promote their online trading from elsewhere in Europe, mostly from Cyprus.

Losses can be instantaneous, with little chance of recovery, because they allow people to take big risks with small stakes.

It means that a small movement in the price of shares can result in the security deposit an investor has put up – the margin – being wiped out.


These complex investments are often sold to ordinary investors online. The potential losses or gains can be much larger than from traditional trading as an investor can hold a trading position representing a much higher value than the size of the stake invested.

The FCA’s analysis found that 82% of clients lost money on such products. The average among clients checked by the watchdog was a loss of £2,200 a year.

Its plans include:

  • Standardised risk warnings given to customers
  • Proportion of winners and losers on products published by providers
  • Capping the proportion of “borrowed” funds that can be used for trading by inexperienced retail clients
  • Preventing providers from using any form of trading or account opening bonuses or benefits to promote CFD products

Consultation on the plans is open until March, with a further statement expected from the FCA in the spring.

Immediate impact

Shares in firms offering these services were hit hard following the announcement.

CMC Markets and IG Group were the biggest fallers on the FTSE 250, both down about 30% in morning trading.

Plus 500, which also saw its share price fall, said the FCA’s plans would have “a material, operational and financial impact on the UK regulated subsidiary”. This represents about 20% of its global business.

IG Group said that it recognised there were “shortcomings in the approach to the marketing of CFDs” by certain firms, often operating from outside the UK.

“Certain of the FCA proposals could enhance client outcomes,” it added. “However, the FCA’s proposals do not appear to directly apply to firms operating from outside the UK offering CFDs and binaries to clients in the UK on a cross-border services passport from another EU member state.

“IG will carefully consider the implications of the FCA consultation paper.”

CMC said it had consistently focused on higher-value experienced premium clients who understood the markets and products they were trading.

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/crackdown-on-financial-spread-betting-proposed-by-fca/

Dec 05

Industrial Analytics Based On Internet Of Things Will Revolutionize Manufacturing

Defining Industrial Analytics

Industrial Analytics (IA) describes the collection, analysis and usage of data generated in industrial operations and throughout the entire product lifecycle, applicable to any company that is manufacturing and selling physical products. It involves traditional methods of data capture and statistical modeling. However, most of its future value will be enabled by advancements in connectivity (IoT) and improved methods for analyzing and interpreting data (Machine Learning).

A fascinating report on how Industrial Analytics is maturing based on advances in the areas of IoT, machine learning, and big data analytics was published this week.  You can download the Industrial Analytics Report 2016/17 report here (58 pp., PDF, free, opt-in). This study was initiated and governed by the Digital Analytics Association e.V. Germany (DAAG), which runs a professional working group on the topic of Industrial Analytics. Research firm IoT Analytics GmbH was selected to conduct the study. Interviews with 151 analytics professionals and decision-makers in industrial companies were completed as part of the study. Hewlett-Packard Enterprise, data science service companies Comma Soft and Kiana Systems sponsored the research. All research and analysis related steps required for the study including interviewing respondents, data gathering, data analysis and interpretation, were conducted by IoT Analytics GmbH. Please see page 52 of the study for the methodology.

Key Insights Gained:

  • Increased revenue (33.1%), increased customer satisfaction (22.1%) and increased product quality (11%) are the top three benefits of Industrial Analytics. The majority of industrial organizations see Industrial Analytics as a catalyst for future revenue growth, not primarily as a means of cost reduction. Upgrading existing products, changing the business model of existing products, and creating new business models are three typical approaches companies are taking to generate revenue from Industrial Analytics.

  • Predictive and prescriptive maintenance of machines (79%) is the most important application of Industrial Analytics in the next 1 – 3 years. Customer/marketing-related analytics (77%) and analysis of product usage in the field (76%) are the second- and third-most important. The following graphic provides an overview of the 13 most important applications of Industrial Analytics.

  • 68% of decision-makers have a company-wide data analytics strategy, 46% have a dedicated organizational unit and only 30% have completed actual projects. The study found that out of the remaining 70% of industrial organizations, the majority of firms have ongoing projects in the prototyping phase.

  • Business Intelligence (BI) tools, Predictive Analytics tools and Advanced Analytics Platforms will be pivotal to enabling industrial data analysis in the next five years. Business Intelligence Tools such as SAP Business Objects will increase in importance to industrial manufacturing leaders from 39% to 77% in the next five years. Predictive Analytics tools such as HPE Haven Predictive Analytics will increase from 32% to 69%. The role of spreadsheets used for industrial data analytics is expected to decline (i.e., 27% think it is important in 5 years vs. 54% today).

  • The Industrial Analytics technology stack is designed to scale based on legacy system, industrial automation, MES and SCADA systems integration combined with sensor-based data. IoT Analytics GmbH defines the technology stack based on four components inclouding data sources, necessary infrastructure, analytics tools, and applications. The following graphic illustrates the technology stack.

  • Industrial Internet of Things (IIoT) and Industry 4.0 will enable an era of shop-floor smart sensors that can make autonomous decisions and trade-offs regarding manufacturing execution. IoT Analytics GmbH predicts this will lead to smart processes and smart products that communicate within production environments and learn from their decisions, improving performance over time. The study suggests that Manufacturing Execution System (MES) agents will be vertically integrated into higher level enterprise planning and product change management processes so that these organizations can synchronously orchestrate the flow of data, rather than go through each layer individually.

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/industrial-analytics-based-on-internet-of-things-will-revolutionize-manufacturing/

Dec 04

Industrial Analytics Based On Internet Of Things Will Revolutionize …

Defining Industrial Analytics

Industrial Analytics (IA) describes the collection, analysis and usage of data generated in industrial operations and throughout the entire product lifecycle, applicable to any company that is manufacturing and selling physical products. It involves traditional methods of data capture and statistical modeling. However, most of its future value will be enabled by advancements in connectivity (IoT) and improved methods for analyzing and interpreting data (Machine Learning).

A fascinating report on how Industrial Analytics is maturing based on advances in the areas of IoT, machine learning, and big data analytics was published this week.  You can download the Industrial Analytics Report 2016/17 report here (58 pp., PDF, free, opt-in). This study was initiated and governed by the Digital Analytics Association e.V. Germany (DAAG), which runs a professional working group on the topic of Industrial Analytics. Research firm IoT Analytics GmbH was selected to conduct the study. Interviews with 151 analytics professionals and decision-makers in industrial companies were completed as part of the study. Hewlett-Packard Enterprise, data science service companies Comma Soft and Kiana Systems sponsored the research. All research and analysis related steps required for the study including interviewing respondents, data gathering, data analysis and interpretation, were conducted by IoT Analytics GmbH. Please see page 52 of the study for the methodology.

Key Insights Gained:

  • Increased revenue (33.1%), increased customer satisfaction (22.1%) and increased product quality (11%) are the top three benefits of Industrial Analytics. The majority of industrial organizations see Industrial Analytics as a catalyst for future revenue growth, not primarily as a means of cost reduction. Upgrading existing products, changing the business model of existing products, and creating new business models are three typical approaches companies are taking to generate revenue from Industrial Analytics.

  • Predictive and prescriptive maintenance of machines (79%) is the most important application of Industrial Analytics in the next 1 – 3 years. Customer/marketing-related analytics (77%) and analysis of product usage in the field (76%) are the second- and third-most important. The following graphic provides an overview of the 13 most important applications of Industrial Analytics.

  • 68% of decision-makers have a company-wide data analytics strategy, 46% have a dedicated organizational unit and only 30% have completed actual projects. The study found that out of the remaining 70% of industrial organizations, the majority of firms have ongoing projects in the prototyping phase.

  • Business Intelligence (BI) tools, Predictive Analytics tools and Advanced Analytics Platforms will be pivotal to enabling industrial data analysis in the next five years. Business Intelligence Tools such as SAP Business Objects will increase in importance to industrial manufacturing leaders from 39% to 77% in the next five years. Predictive Analytics tools such as HPE Haven Predictive Analytics will increase from 32% to 69%. The role of spreadsheets used for industrial data analytics is expected to decline (i.e., 27% think it is important in 5 years vs. 54% today).

  • The Industrial Analytics technology stack is designed to scale based on legacy system, industrial automation, MES and SCADA systems integration combined with sensor-based data. IoT Analytics GmbH defines the technology stack based on four components inclouding data sources, necessary infrastructure, analytics tools, and applications. The following graphic illustrates the technology stack.

  • Industrial Internet of Things (IIoT) and Industry 4.0 will enable an era of shop-floor smart sensors that can make autonomous decisions and trade-offs regarding manufacturing execution. IoT Analytics GmbH predicts this will lead to smart processes and smart products that communicate within production environments and learn from their decisions, improving performance over time. The study suggests that Manufacturing Execution System (MES) agents will be vertically integrated into higher level enterprise planning and product change management processes so that these organizations can synchronously orchestrate the flow of data, rather than go through each layer individually.

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/industrial-analytics-based-on-internet-of-things-will-revolutionize/

Dec 03

Boston Police Plan to Monitor Internet for Threats Draws Criticism

BOSTON—The Boston Police Department is taking heat from civil liberty groups for plans to spend up to $1.4 million on new software that scours social media and the internet for potential threats.

The attack Monday on the Ohio State University campus is just the latest illustration of why local law enforcement authorities need every tool they can muster to stop terrorism and other violence before it starts, according to Boston Police…

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/boston-police-plan-to-monitor-internet-for-threats-draws-criticism/

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