IoT, Big data alchemy and the art of data monetisation
According to the international Forrester report, nearly 20% of all firms are now harnessing the Internet of Things (IoT), and a further 28% are planning to deploy it in the near future. Through these interconnected networks of smart devices, businesses are now gaining access to unprecedented new pools of data. In these early days of IoT, one question remains: how can these vast datasets be made to work for you and your organisation?
If you have a big dataset of geographic or road-related information, we can take clear steps to reorganise, fuse, and repackage it in the process of monetisation. In many cases, one seemingly unusable set of data can be analysed, pruned and resold in unexpected and niche ways for use in markets you may have never thought of before.
Examples of this type of data monetisation are found in allmapdata’s work with INRIX, who hold a large database of historic live traffic data for companies and authorities. By reorganising it and combining it with our own geospatial data, we created the historic road speed database INRIX UK Road Speeds.
By infusing value into the INRIX database and creating new, monetised datasets, we ultimately created a new source of income for INRIX and brought additional value to the brand. The datasets have proven to be highly valuable in the logistics, routing and scheduling industry, and are further detailed below.
The UK Road Speeds data is available at street level and provides speed and traffic volume attributes with a unique ID, linking the data to your chosen network. Choose road speeds by vehicle type (e.g. cars, vans or trucks) and by time of day such as peak or off-peak and more.