Business
HOW TO ORGANIZE AND MONETIZE IOT DATA Experts estimate there will be 30 billion IoT devices by the end of 2020. And while each one of those devices will be generating data, most of that data will be collected in unusable, proprietary formats. In this episode of IoT Playbook, I interviewed Michael C Skurla, the Director of Product Strategy for BitBox USA, an IoT data analytics company. Bitbox collects data from all IoT devices on a network, loads it up to a secure cloud, aggregates and analyzes the data, then transforms it into immediately usable formats. So, if you want to learn a simple solution for monetizing IoT data, then go to podcast.iotplaybook.com, where we interview the IoT solution providers who show you their playbooks for making money with commercial IoT. What You Will Learn: How to monetize data using BitBox by leveraging the mounting number of Iot devices Why the trend is shifting from data generation to data collection and organization How Bitbox organizes data into a useable format that can be easily mined The importance of ‘middleware’ in the world of data How your organization can tap into BitBox’s innovative IoT platform IoT Device | Bridging the Gap BitBox has been around since 2015 and it focuses on a unique area of IoT. This company recognized that the changing landscape of IoT is no longer about generating data; it is about collecting data and forging it into a usable form. While BitBox may sound like a piece of hardware, it is really a platform. It is an IoT device that aggregates-in everything it possibly can. It takes all of the data, moves it to a cloud platform, then organizes it into useful information so that users can mine the data easily. Mike Skurla, the Global Director of Product Strategy for BitBox USA, joins IoT Playbook in the latest episode to explain how we can monetize data from a mounting network of IoT devices. Middleware In 2020, people show up at their offices with a preconceived notion that data and IoT devices should work better together because that is what they are used to at home. But platforms have not necessarily excelled in the commercial or industrial space, and businesses are relying on antiquated systems to gather the data they need. Mike Skurla and his team at BitBox USA have bridged this gap by acting as what Mike calls ‘middleware.’ BitBox enables us to see how one system’s data relates to another and some of the largest companies in the world have already started to recognize the need for this technology. Bitbox Playbook Mike Skurla provides us with a playbook for one of BitBox’s projects, where a restaurant chain approached his company looking to reduce its heating and cooling costs. Prior to partnering with Bitbox, they spent 6-months looking at HVAC analytics, but could not see any patterns whatsoever. Within three days of installing a BitBox at each restaurant location, the BitBox analytics engine scanned the IoT devices and discovered that the restaurants with the highest energy costs had managers who left the back door open when they went outside to smoke. That revelation immediately saved their clients 30% in energy costs. About Mike Skurla Michael C. Skurla is the Global Director of Product Strategy for BitBox USA, providers of the BitBox IoT platform for multi-site, distributed facilities’ operational intelligence, based in Nashville, Tennessee. Mike’s in-depth industry knowledge in control automation and IoT product design sets cutting-edge product strategy for the company’s award-winning IoT platform leading the expansion of BitBox beyond DCIM while earning industry accolades and awards. His IoT industry insight and thought leadership have led to speaking engagements and publications in top industry outlets such as Critical Facilities, OilMan, and LD+A., and appointment to the CABA Board of Directors. How to contact Mike Skurla: Website: bitboxusa.com Email: mike@bitboxusa.com LinkedIn: https://www.linkedin.com/in/mikeskurla/ Twitter: @bitboxusa More IoT Playbook Resources: Learn How to Get Started With This Free Online Class: www.freeiotclass.com myDevice webinar replay