Low-cost Data Acquisition is Critical to Digital Transformation
January 25, 2022 - The digital transformation market is growing exponentially – on track to reach $2.8 trillion USD by 20251. Machine Learning is quick on its heels, with Fortune Business Insights predicting the market to grow from $15.50 billion USD in 2021 to $152.24 billion USD in 20282. These market dynamics are generating immense demand for applicable solutions, but one element threatens to derail successful solution implementation: lack of data.
Enabling Massive Amounts of Data
The lack of data is one of the main reasons why both machine learning and digitalization projects fail. In fact, data starvation puts multimillion dollar investments into digitalization projects at risk. The availability of data is often overestimated, leading to a breakdown in planned processes that were built on estimates and predictions, rather than preliminary analysis conducted during project development. Such a situation is considered unacceptable by both investors and the market that requires wholesome datasets to support operations.
Further complicating the issue is the role hardware plays in software-related processes, as machine learning algorithms and digital transformation software need smart sensors to gain access to real-world data. The availability of this "physical world to database" interface is the key to providing constant data streams for improving machine learning efficiency.
The main challenge of the data collection is the fact that while computational efficiency has improved exponentially over the past decades, wireless transmission continues to be energy-intensive and expensive.
LoRaWAN: Closing the Cost and Connectivity Gap
Wireless communications are moving towards higher bandwidths for obvious reasons. Currently, 4G features an amazing 300 megabit per second download speed, which is already high enough to provide the necessary volumes of data transmission needed for next generation AI systems to operate. But most sensors don’t require such an enormous throughput. Billions of devices, such as water and energy meters, pallet and roll cage trackers, predictive maintenance sensors, and many other types of sensors, only need to report a very small amount of data several times a day. High throughput connectivity is also costly due to network build and maintenance expenses. The result is a gap between market needs and available connectivity technologies; a gap that is growing wider with the sunsetting of 2G and 3G networks.
Long Range Wide Area Network (LoRaWAN), the globally adopted open standard technology for enabling IoT connectivity, closes the gap by offering significantly lower device and connectivity costs. It also offers optimal data usage, sustainable battery life and indoor-outdoor coverage.
In short: LoRaWAN enables the low cost, low power transmission of massive amounts of data. The data that digital transformation and machine learning demand.
Low-cost Devices and Connectivity: A Powerful Combination
Price elasticity really does matter and can make or break an IoT use case. Pennies matter. Total cost of ownership (TCO) matters. A low-power device is a device that can effectively operate its full lifespan – typically five to ten years – by relying solely on its battery. In fact, battery-powered devices are a main contributor to the “low-cost device” part of the TCO equation: they are cheaper to install and require zero maintenance.
The other aspect of the TCO equation is low-cost connectivity. While the challenges of providing low-power and low-cost devices is solved by the technology itself, low-cost connectivity is most effectively enabled using a LoRaWAN neutral-host network, such as the one provided by Everynet. Everynet’s low-cost connectivity enables use of up to 99% of sensor data that is currently being discarded due to cost or power constraints.
Bits, Billions and Cents
Everynet aims to connect billions of sensors and enable thousands of use cases that were previously cost-prohibitive. Everynet solves the data starvation problem, enabling companies to gain access to data and insights at ultra-low cost.
Today, both digital transformation and machine learning are driven by cloud hyperscalers such Microsoft, AWS and Google. Everynet is the next low-cost connectivity hyperscaler that promises to introduce a unique and innovative approach to streamlining data availability for an infinite number of devices on a broader scale previously unseen and deemed unaffordable. Businesses, utility companies and cities alike can benefit from the solutions enabled by Everynet and its solution partners. From smart metering of all types to predictive maintenance, asset tracking and infrastructure monitoring, the applications are nearly endless. To learn more, contact Everynet at email@example.com.
Everynet is a global LoRaWAN® network operator providing carrier grade networks in Asia, EMEA and the Americas. Everynet's Neutral Host Network model enables Mobile Network Operators (MNOs), Mobile Virtual Network Operators (MVNOs) and global Managed Service Providers (MSPs) to offer ultra-low cost IoT immediately and profitability with ZERO upfront capital expenditure. Everynet makes IoT accessible across any industry to enable enterprise-grade solutions and is deployed using LoRaWAN® technology, the globally adopted open standard for IoT connectivity.