IDC predicts that by 2020, the IoT networks will consist of more than 29 billion connected devices. But nearly 90 percent of the 6,000 exabytes of data that is being generated by the CPS devices at the edges of the IoT networks is currently not being used to deliver value. Big Data technology promises to extract value from such data assets; e.g., by bringing the analytics and decision making capabilities closer to the edge. Big Data, CPS and IoT will thus have the power to enable the digital transformation of European industry, resulting in (1) significantly improving operational efficiency, (2) delivering better services for customer needs and wants, (3) facilitating new business models revolving around monetizing novel and not yet used data sources. This session will present and discuss the opportunities and challenges that lie ahead of us along this avenue. In particular, the session will use examples from key European industry sectors, such as transport and logistics, agri-food, healthcare, manufacturing, energy, finance and insurance.
Such illustrative examples will also be used to debate on the most essential areas of work that lie in the integration of different technologies (IoT and CPS, but also cloud and in some cases HPC) and the use of Big data to create additional value on top of those ones.