IoT-connected devices create huge quantities of data. As a result, the impact and benefits of IoT for businesses depend upon how they manage and use big data. As the technology is only growing in popularity and adoption, in the future, we can expect to see companies being obligated to upgrade their processes, technologies and security systems in order to position themselves to get the best out of it.

Big data and IoT are intertwined. Almost all devices that we use and surround us are connected to the cloud in some way or another, sharing every minute bit of our data. Smart farming, e-health, smart retail, smart homes, smart cities, smart environment are just a few applications of IoT in the world today.

These applications generate a lot of data that companies collect with the intention of improving their business workflows, enhancing customer experience and remain relevant given their continually increasing competition. This means that IoT has a direct impact on data, making it increase in size (hence big data), and is crucial for businesses to derive accurate insights to make informed business decisions. 

Scope of IoT
Turning sci-fi fantasy into reality, IoT has become an integral aspect of our daily lives. The numerous benefits resulting from the technology is beyond imagination. IoT is the new method of connecting machines to each other. In the future, we can expect the technology to develop to the point where automated services and systems will become the norm and take a more active role in providing comfort and ease as well. As a result, major business leaders all over the world and even startups are investing heavily in the technology for collecting vast amounts of data. Their aim is to leverage the benefits of big data provided by sensors, actuators and cameras, to gain actionable insights through big data analytics.

Impact of IoT on Bigdata
By now, businesses are well aware of how big data and IoT benefit from each other. Let’s dive a bit deeper into how IoT impacts big data:

Firstly and more importantly, IoT-connected devices create vast quantities of data that require storage space. To address this requirement, businesses are being obliged to shift towards PaaS (Platform as a Service). PaaS is a cloud-based platform that enables companies to store their endless data. There are several sub-categories within a PaaS, namely: private, public and hybrid. Depending on the nature of the collected data, businesses can select the correct type of PaaS suited for them.
Security and privacy are not new issues faced by businesses. The IoT security breaches report is sufficient to prove the risks within an IoT ecosystem. Therefore, businesses must remain up-to-date with technologies that provide high security to both; data and devices. Undoubtedly, hackers will eventually try their level best to hack the IoT devices and data. But, if the business has endeavored to create layers of security with immediate response, these threats can be easily mitigated. 
Lastly and more significantly, is analyzing the IoT data in real-time. If there is no process or system set up to carry out the proper analysis of data, the entire process of data collection and data security will be in vain. As a result, it is crucial for businesses to make use of the correct analytics tools that will enable them to gain in-depth and actionable insights from their IoT data.
From the beginning of data acquisition to data security to data analysis, IoT has a significant impact on big data. The success of any business relies on how well they harness big data generated by IoT devices using the correct analytics tools.