In our previous volumes, we have discussed what edge computing means for the future of the technology industry. The process of data stored and analyzed at the edge of a network not only will drive autonomous vehicles, but will drive the future of business as well.
It is predicted that in the next few years, about 45 percent of all IoT data will be stored and processed at the edge of a network, with the number of devices connected to edge computing solutions increasing along with that. As business models continuously transition towards internet-dependence, edge computing can help companies analyze data faster and closer to where it is most regularly needed for daily operations.
What are the advantages of incorporating edge computing in a business model, and who could most benefit from it?
Business advantages of edge computing
Edge computing offers businesses many strategic advantages, the primary benefits being the decrease in cost and the increase in security. Edge computing provides faster data response times, which lowers the risk of lackluster business performance due to latency and increases value by reducing the back-and-forth flow of information from a centralized cloud. Edge computing provides businesses with the confidence that their sensitive information is more secure by offering the ability to process that data locally. A business can then send less sensitive data during off-peak times to the cloud for further processing. Keeping this personal information close to the source gives companies the confidence previously lacked in cloud computation.
Industries that can most benefit
Currently, edge computing may not be useful to every business. The transportation industry, for example, has much to gain by utilizing edge computing to lower IoT cost and improve overall function. Trucks and trains could improve efficiencies by making real-time re-routing a viable reality resulting in reduced delivery delays imposed by accidents that happen on the planned route.
Airplanes and ships would be able to retain and process more real-time information locally, only sending important information like a mechanical issue notice elsewhere for further processing. Edge technology would allow traffic and environmental sensors to process and deliver the most relevant information to vehicles, leading to innovative smart transit systems. While these are just a few of the benefits there are sure to be many more as implementation leads to more creative applications.
While businesses stand much to gain from utilizing edge computing, most will still rely on cloud computing in addition to processing data at the edge for operations that do not require quick data processing. In volume 1, we discussed how edge and cloud computing complement each other and this collaboration in processing methods will lead to great business growth in the long run.
For more information on how businesses may utilize edge computing, please contact our team today.