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Wearable Data Analytics Provides Companies with Actionable Information |
NEWS |
Data analytics provides companies with insight into the data that devices and sensors collect, rather than just providing a long stream of real-time raw data. This raw data is often overwhelming and does not provide a company with any actionable information. Data analytics adds value to this data by showing correlations between data points, making predictions on what will happen based on the current data, and prescribing actionable measures that allow the company to prevent, mitigate, or ensure an outcome. As the presence of wearables within the workplace continues to increase, so does the amount of data that they collect. Companies are now looking into how to get this actionable analyzed information from wearable devices, alongside the other devices and sensors that are in use.
What Insight Analytics Brings to Enterprise Wearable Data |
IMPACT |
Different types of wearable devices collect different types of data. Often this raw data is only useful to show the user current readings, but data analytics provide further information, such as how the readings have changed over time, when a dramatic difference is detected, what will happen in the future, and how to change this. There are many insights that data analytics can bring to enterprise wearables, including:
The Future of Enterprise Wearables and Data Analytics |
COMMENTARY |
Wearable devices are becoming more popular within the enterprise market due to their ability to provide workers with access to hands-free information and communication. This hands-free form factor saves time, preventing workers from needing to access a separate device, which helps to improve productivity. As the benefits behind this technology continue to become more well-known, an increasing number of companies will look to adopt wearables to aid workers and improve productivity. This will lead enterprise wearable device shipments to increase to nearly 118 million in 2022, up from 38 million in 2017.
As the number of wearable devices increases, so will the amount of data that they collect. Companies adopting the technology will look to find ways to gain further benefits from the devices and their data. As data analytics can provide more actionable information, allowing vital business decisions to be made quickly, more companies adopting the technology will consider the possibilities of adding this further layer to their solution. The companies that offer the analytical capabilities, such as Catapult Sports, Emu Analytics, Sentrian, and Vivametrica, will investigate how to improve their offerings moving forward, entering into partnerships with vendors and clients to create custom made solutions that provide clients with what they require.
Due to the potential fragmentation in this space, more data companies will offer clients the ability to combine data sets from numerous different types of technologies, devices, and sensors, to provide a complete solution. Data monetization will also become more popular, with monetary benefits including those indirectly associated with improving productivity and workflow, as well as the ability to sell data collected from devices to provide others with information into user habits.
At its core, wearable data analytics is another way of looking at wearable devices and the potential value they bring to users and implementers. The direct benefits for a consumer are well-understood, and the benefits for an enterprise worker are catching up in familiarity, but the long-term benefits of the data collected during use is less explored. With the enterprise wearable device adoption uptick ongoing, the capability and value of both direct device usage and its associated data compounds.