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IoT Data Visualization for Corporate Finance Business Intelligence

IoT Data Visualization
The evolution of internet-based market models has changed the way businesses operate. Present-day businesses know that data visualization in business intelligence is integral to competitive success. Therefore, businesses are now expanding their data and intelligence retrieval capacities. As a result, IoT (Internet of Things) data visualization is gaining popularity among industrialists and researchers across various disciplines.

In corporate finance, IoT-based efficient data visualization analyses data from multiple sources with the help of corporate analytics management tools and manages data quality for business intelligence to reduce the risk of leaks.


Impact of IoT Data Visualization on Corporate Finance BI

Data is everywhere— right from a customer's first visit to your company’s website until he signs out, all the behavioral patterns and data are tracked. All this data becomes useless unless it is utilized for a particular purpose.

Analyzing this data to predict future trends is one of the significant benefits of smart data visualization tools and technologies. It helps to slice and dice the data gained from different sources of different complexity levels to the minute granular level. Business intelligence utilizes these insights and the existing database to run risk analysis.

It gives an overview of your financial performance and the risks and exposures it faces. And if you switch the KPIs at the center of any dashboard, your entire team can instantly access the most important and relevant data.

IoT data visualization can measure big data on customers more efficiently, allowing organizations to add value to their customers. Customized tools will analyze your customers’ data and produce reports according to specific customer needs to help you get a deeper insight. Corporations can also utilize this data to better understand their competitors’ benchmarks.


Customizable IoT Data to Store Millions of Data Points in One Place

IoT collects millions of data from various complex sources. The data visualization dashboard contains multiple widgets that convert this data into various forms, such as line graphs, geographical maps, bar charts, pie charts, gauges, heat maps, etc.

This information, transmitted into multiple visualizations, helps organizations to unlock every piece of data into a valuable asset.


The Benefits of Using IoT Data Visualization

Businesses can collect, analyze and monitor a variety of data using IoT, such as internet usage data, video surveillance data, mobile app usage, and social media. It helps businesses to design products and provide personalized value-added services to drive better consumer engagement. Here are some key benefits IoT data visualization offers:
  • Unlock multiple insights across various verticals
  • Addressing important financial concerns proactively
  • Combination of multiple data sources into a single insightful dashboard
  • Multi-layered visual data.
  • Combines new data with the existing data to analyze new business opportunities.
  • Better performance on IoT data flow.
  • Analyze multiple data correlations in real-time
  • Improved Collaboration
  • Well-coordinated and efficient performance.
  • Cost reduction
  • Accurate data interpretation
  • Mitigate risk factor
  • Better decision making


Conclusion

Hands down, IoT data visualization intelligence in a company’s business operations will lead to better decision-making. But, before you choose an IoT data visualization tool for your business, you should know what kind of data you need to analyze and if you need any additional historical data. Because IoT services offer data visualization tools and techniques to analyze and monitor the data accordingly to predict future trends. So, it’s important to identify the goals before selecting a tool for your organization.

Spotlight

Eridanis

Eridanis is a consulting firm in innovation specialized in the Internet of Things (IoT), providing to customers an expertise of IoT markets and technologies.

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At the same time, Tuya has integrated Aurora Serverless, which includes seconds-level elastic expansion and contraction, allowing Tuya to handle extremely heavy business traffic smoothly. Tuya's customers are located throughout more than 200 nations and regions, and they deal with widespread access to IoT data. Different countries and regions have different regulations on data compliance, such as GDPR and local PII. Tuya needs to adhere to each region's data security compliance regulations. As Tuya's primary business data storage provider, Amazon Aurora was among the first in the public cloud sector to enable physical encryption for database products, which significantly decreased the cost of Tuya's security compliance transformation and gave Tuya excellent basic security guarantees. In addition, Tuya is continuously testing out additional new innovation unique to Aurora, such as Enhanced Binlog, zero-ETL, and Limitless Database. Aurora's ongoing investment in innovative technologies provides more opportunities for Tuya to expand its business. Additionally, based on Tuya's comprehensive IoT developer platform architecture, both parties have collaborated to enhance Tuya IoT applications performance indicators like stability, low latency, scalability, and security in the real-world application of databases, revealing more potential and possibilities and enabling the IoT. Tuya and AWS: Continuously promoting the evolution of cloud experience Data-driven approaches will usher in a new era of innovation in tandem with the swift advancement of data applications. At this year's re:Invent conference, Peter DeSantis, Senior Vice President of AWS, reviewed the relational database's development history in great detail. In 2014, AWS created Aurora based on log architecture. In 2018, the release of Aurora Serverless allowed for seamless scaling of database resources through virtualization technology. This year, AWS announced the launch of the Amazon Aurora Limitless Database, which automatically scales to millions of write transactions per second well beyond current limits of a single PostgreSQL instance. It is apparent from Amazon Aurora's development history that AWS has always been dedicated to innovation. Customers and partners from a range of industries actively utilizes AWS to enable rapid innovation in a variety of ways, while also working together to enhance the cloud experience. Similar to how Tuya and AWS work together, Tuya's effective and user-friendly IoT developer platform and rich and varied IoT solutions have built a significant lighthouse, embracing the Amazon Aurora's innovation and accelerated the process of building a more secure and reliable IoT database use case. Amazon Aurora VP Yan Leshinsky said, "Amazon Aurora is the fastest growing service in the history of AWS and is trusted by hundreds of thousands of customers. We innovate by working backwards from customers' needs, and we appreciate the feedback that Tuya has shared. We remain committed in developing new Aurora features and capabilities so all customers can accelerate their applications' capabilities and business growth by using Aurora." "Tuya has always committed to strengthening advanced and valuable innovations, while offering open and neutral ecosystem assistance for global partners. We provide our developers with enhanced operational and maintenance control, adaptable data storage options, superior product experience, and a global business layout by utilizing the Amazon Aurora database. We will continue to work with AWS to benefit the world in the future in areas including technology, ecosystems, and cloud computing, helping customers achieve commercial success." said Eva Na, Vice President of Marketing and Strategic Cooperation, and CMO of Tuya Smart. Enhancing the partnership with AWS, Tuya delivered IoT best practice using Amazon Aurora database, giving the industry's growth additional impetus. Tuya will maintain its open and neutral stance going forward, collaborating with cloud service providers like AWS to offer global developers a more secure, reliable, and productive cloud environment, thereby advancing the innovation and development of the entire industry.

Read More

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Read More

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AppViewX Digital Trust Platform Named IoT Security Product of the Year

AppViewX | January 12, 2024

AppViewX, the leader in automated machine identity management (MIM) and application infrastructure security, today announced the AppViewX Digital Trust Platform has been named IoT Security Product of the Year in the 8th annual IoT Breakthrough awards program, which showcases technologies and companies that drive innovation and exemplify the best in IoT technology solutions across the globe. IoT Breakthrough is a leading market intelligence organization that recognizes the top companies, technologies and products in the global IoT market. The mission of the IoT Breakthrough Awards program is to recognize the innovators, leaders and visionaries from around the globe in a range of IoT categories, including Industrial and Enterprise IoT, Smart City technology, Connected Home and Home Automation, Connected Car, and many more. This year's program attracted nominations from companies all over the world. “Unmanaged machine identities for IoT devices can create critical security vulnerabilities, but for most organizations discovering, maintaining visibility into and controlling them has become manually unfeasible,” said Gregory Webb, CEO of AppViewX. “The AppViewX Digital Trust Platform automates IoT identity management at scale across the largest, most complex and distributed customer environments, allowing customers to achieve significantly stronger security posture and meet compliance requirements.” All IoT Breakthrough Award nominations were evaluated by an independent panel of experts within the IoT industry, with the winning products and companies selected based on a variety of criteria, including most innovative and technologically advanced products and services. About AppViewX Digital Trust Platform Out of the box, AppViewX provides instant value to customers by discovering all certificates across complex enterprise environments, building and maintaining inventories, provisioning both private and public trust certificates from any CA, alerting to expiring certificates and fully automating renewals and revocation to eliminate outages and security weaknesses across machines, applications, services, and security infrastructure. About AppViewX AppViewX is trusted by the world’s leading organizations to reduce risk, ensure compliance, and increase visibility through automated machine identity management and application infrastructure security and orchestration. The AppViewX platform provides complete certificate lifecycle management and PKI-as-a-Service using streamlined workflows to prevent outages, reduce security incidents and enable crypto-agility. Fortune 1000 companies, including six of the top ten global commercial banks, five of the top ten global media companies, and five of the top ten managed healthcare providers rely on AppViewX to automate NetOps, SecOps, and DevOps. AppViewX is headquartered in New York with offices in the U.K., Australia and three development centers of excellence in India. For more information, visit https://www.appviewx.com and follow us on LinkedIn and Twitter.

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