Geospatial IoT Insights – October 27

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The latest edition of the International Energy Agency’s Medium-Term Renewable Market Report now sees renewables growing 13% more between 2015 and 2021 than it did in last year’s forecast, due to strong policy support in key countries and sharp cost reductions. Based on the updated growth forecast, 2.5 wind turbines and 30,000 solar panels will be installed every hour around the world over the next five years. We are expecting this trend to accelerate also the renewable energy data market that is being targeted by Planet OS products. [International Energy Agency]

Energy firms face data challenges in IoT pursuits. An inability to standardize data across systems slows many companies’ progress, says David Mount, a partner with venture capital firm Kleiner Perkins Caufield & Byers. Data aggregation and standardization is where people are getting stuck right now. Organizing data is a time-consuming but necessary step that companies need to perfect before they can take on more advanced IoT projects. [The Wall Street Journal]

As they struggle to keep pace with more frequent outbreaks of severe weather, U.S. forecasters are looking for better ways of incorporating more data into storm and flood predictions. U.S. storm forecasts have been criticized for relatively low resolution compared to European models that are leveraging exascale computing, analytics and storage. In response, NOAA announced $6 million in research grants this week designed to help to field new improved forecasts models, new weather sensors and better methods of assimilating data into weather forecast models. [Datanami]

Another interesting use case for geospatial data: three pieces of external data impacting retailers’ bottom lines. Retailers are constantly looking for smart ways to gauge their performance, and understanding data is crucial to this process. Much of a retailer’s success relies on insights gained from its internal data. However, there are three key data sources most retailers didn’t even know could be affecting their bottom line: census data, geospatial data and weather data. Geospatial data allows retailers to gain a clear view of business operations in a specific locale and helping them spot opportunities to continuously improve based on each environment. Weather patterns affect retailers every day, from the manufacturer all the way down to internal operations issues. [Chain Store Age]

4 Things You Must Know about the Industrial IoT. Understanding current trends, security, and future perspectives in the Industrial IoT will benefit any sized company. Whereas the impact of certain components is shrinking, such as logistics and supplier quality, some other areas are becoming crucial for the success of a company and need more efficient analysis tools: (1) Acquire smarter talent and maintenance, (2) understand the importance of Big Data, (3) utilize service models, and (4) take care of security. [machine design]

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